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Uncertainty continues regarding the future of Pakistan Steel Mills

In recent times, there has been talk of reviving Pakistan's leading steel producer, PSM, which is believed to make a significant contribution to the economy. However, it is noted that the Sindh provincial government is indifferent to this matter.

Uncertainty continues regarding the future of Pakistan Steel Mills

Iran's desire to revive PSM, along with previous interest from Russia and China, is well known. However, local authorities are accused of seeking to sell off PSM's valuable land to real estate mafias in exchange for hefty commissions and bribes.

The global steel production sector is highly profitable, but it is claimed that a corrupt political government deliberately destroyed PSM through excessive recruitments. The same situation is said to apply to Pakistan International Airlines (PIA), with no action taken against these mega-corrupt politicians.

Rumors circulate about the establishment of a special export industrial zone or technology park on PSM land. However, some claim that this land has been allocated to a private steel factory from the Middle East.

Given Pakistan's need for steel in various sectors, there is a belief that PSM should be revived with the help of Iran, China, or Russia. The future of PSM is critical for the Pakistani economy. Various parties propose different plans and views regarding the land and future of PSM, increasing uncertainty.

Reviving PSM could make a significant contribution to the economy by meeting the country's steel needs and creating new job opportunities. The interest of countries like Iran, China, and Russia in reviving PSM indicates the possibility of concrete steps being taken in this regard.

However, the risk of PSM's land falling into the hands of real estate mafias casts a shadow over this hope. The indifference of the Sindh provincial government and the corruption scandals involving local officials are worrying for the future of PSM.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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