KARACHI: The federal and Sindh governments on Monday decided to revive the Pakistan Steel Mills (PSM) on 700 acres of land with collective efforts.
Sindh Chief Minister Syed Murad Ali Shah and Federal Minister for Industries and Production Rana Tanveer agreed to establish an industrial park on 3200 acres of land and revitalize the Steel Mills on 700 acres.
The decision was made during a meeting between the two leaders in Karachi. The proposed industrial park will be established on the additional land of the Pakistan Steel Mills. While the 700 acres earmarked for the Steel Mills
CM Syed Murad Ali Shah asked the federal government to provide assitance in the revival of the Steel Mills.
“The Federal Ministry of Industries should write a letter regarding the decision to establish an Industrial Park. As soon as the letter is received, steps will be taken to transfer the land,” said the Chief Minister Sindh.
Federal Minister Rana Tanveer stated that the federal government wants to establish the industrial park as soon as possible, and Prime Minister Shehbaz Sharif has directed that the work on the park should begin immediately.
Earlier in April 2024, the Federal Ministry of Industry and Production had constituted an eight-member committee to revive the Pakistan Steel Mills.
The committee headed by the Federal Secretary of Industry and Production include the Additional Secretary of Industry and Production, Senior Member of the Board of Revenue Sindh, Joint Secretary of Finance, CEO of PIDC, and representatives of the Worker Union of Steel Mills and two independent board members of the steel mills, including the Director Technical and Corporate Secretary.
The committee had been tasked to review the plan to shut down the steel mills and auction off its plants and machinery.
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