?? Major Update from our neighborhood: Pakistan Steel Mills Closure and Future Plans

The Pakistani government has decided to close Pakistan Steel Mills (PSM), with plans to transfer PSM's land to the Sindh province government for general industrial use. Excitingly, a new steel plant will be established on PSM's lands in collaboration with Sindh's government.

Despite ceasing operations in 2015, PSM has been maintaining its infrastructure with minimal natural gas supply due to unpaid bills. Earlier privatization efforts in FY 2022-23 attracted offers between $1-1.5 billion from investor consortiums in China and Russia.

This move aims to revitalize the steel industry and drive industrial growth in Sindh.

#SteelIndustry #PakistanSteelMills #IndustrialGrowth #Privatization #SindhGovernment #InfrastructureDevelopment