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KARACHI: Pasban Democratic Party (PDP) Chairman Altaf Shakoor here Sunday said that the best option is to revive the Pakistan Steel Mills (PSM); otherwise, its vast land should be used to establish proposed industrial park.

He said that it is learnt that the federal government is seeking the cooperation of Sindh government to set up an industrial park on 1500 acres of the PSM under the China-Pakistan Economic Corridor (CPEC). This idea was originally conceived by Pakistan Muslim League-Nawaz (PML-N) government in 2017. It was approved by the Central Development Working Party (CDWP) in 2021.

The PSM is spread out over an area of 18,660 acres, including 10,390 acres for the main plant, 8070 acres for the township and 200 acres for the 110 MG water reservoir.

Economic policies should revolve around job creation: PDP

Steel industry is amongst the most profitable industries in the world. The PSM was also a highly profitable mill, but a mafia in guise of political leaders doomed it as per the plan of their anti-Pakistan masters to harm the Pakistani economy. Sadly, they became successful and the PSM was damaged and finally closed down.

He said despite its closure the government still pays salaries of its employees, which means continuously bleeding the national economy. He said the systematic doom of the Pakistan Steel Mills is a textbook example of how the economic hit men of anti-Pakistan forces work in this country in the guise of political leaders and political parties. However, our ‘establishment’ still relies on these hidden foreign agents.

He said that we should now be able to recognize our friends and foes and unveil the faces of the economic hit men operating in Pakistan.

Altaf Shakoor welcomed the idea of setting up an industrial park on the land of the PSM. He said that some local and international real estate tycoons want to get the land of the PSM for the peanuts to make profits of trillions of rupees.

He said the PSM is a national asset and it should be saved from the privatization mafia. He said the PSM could be revived with the help of Russia that is reportedly still interested to help setup a modern steel mill on the site of the PSM.

Copyright Business Recorder, 2024

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KU Jan 01, 2024 09:17am
Perhaps he knows that the PSM board had leased out it's land many years ago and over 50 industrial units are already established and operating. If the true meaning of an eyewash is to be understood, just open the book of corruption written by our politicians & Co.
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Qaisar Saleem Jan 01, 2024 10:47am
The direction set in this article is immaculate and is a perfect solution to correct the unfortunate wrong done in the past. The revival of steel mills by technical assistance of Russia is the most appropriate option
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