How are Pakistan and China relations. The whole world is aware of this. But now a country has emerged to help Pakistan, whose relations are also very good with India. This is the same country, whose weapons have caused havoc in Pakistan. But now this country is going to help Pakistan. The matter of India’s evergreen friend Russia is talking here. This step of Russia can be a matter of concern for India. Actually, the government of Pakistan to bring its industry back on track with the help of Russia Is trying Russia has signed an important economic agreement with Pakistan amidst the ongoing tension between India and Pakistan. A modern steel plant will be built in Karachi under this billion dollar deal. The agreement aims to revive the Soviet -built Pakistan Steel Mills (PSM), which has been closed since 2015. The estimated cost of the deal is $ 2.6 billion (about Rs 22,000 crore), which can play an important role in strengthening Pakistan’s economy.
What is the agreement?
The agreement between Russia and Pakistan has been made to restart the steel plant in Karachi. The plant was established in the 1970s with the help of the Soviet Union. It remained operational until 1992, but was discontinued in 2015 due to economic and technical reasons. Under the new agreement, Russia will provide the most advanced technology machines for advanced steel manufacturing technology, which is expected to reduce Pakistan’s dependence on steel imports by 30%. The objective of this project is to reduce Pakistan’s 11.2 million metric tonnes of steel consumption deficit. In March 2025, imported scrap and semi-taiyar products cost $ 324 million. This project will not only reduce import bills but will also increase local employment opportunities.
What will be the benefit of Pakistan?
This deal will strengthen Pakistan’s economy. A 30% decrease in steel imports will reduce pressure on foreign exchange reserves, which is currently facing economic crisis. The revival of the steel plant will create thousands of direct and indirect employment opportunities. This will promote economic activities in Karachi and surrounding areas. By using Russia’s advanced steel manufacturing technology, Pakistan’s steel industry will become modern and competitive. This will improve the quality and efficiency of local production. Increase in self-sufficiency is important for long-term economic stability due to low dependence on imported scrap and semi-taiyar products.
Is it a matter of concern for India?
The agreement has been between India-Pakistan tension, causing concerns about this deal in India. The tension between India and Pakistan is at a peak after the terrorist attack in Pahalgam in Jammu and Kashmir on 22 April. 26 people were killed in this attack. In response, India launched airstrikes on terrorist bases in Pakistan under Operation Sindoor. Russia has always considered India as its strategic partner, but this time its response has been balanced and neutral. Russian President Vladimir Putin condemned the attack, but called both India and Pakistan to reduce tension and also offer arbitrations. This stance was unexpected for India, as Russia had openly supported India on the Kashmir issue earlier.
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