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Tuesday, May 21, 2024

Russia’s investment can revive Pakistan Steel Mills: FM

FM Shah Mehmood Qureshi states in a video that Russian investment can help in the revival of Pakistan Steel Mills. The visit of the Russian foreign minister to Pakistan after nine years reflected a “new and positive dimension” of bilateral relations.

Foreign Minister Shah Mehmood Qureshi on Tuesday said Pakistan would welcome it if Russia made an investment for the revival of Pakistan Steels Mills (PSM) or other projects.

The Pakistan Steel Mills was set up with the technical and financial help of Russia and now its role in the revival of the entity could open up several opportunities to strengthen bilateral cooperation, Qureshi said in a video statement regarding the visit of the Russian Foreign Minister Sergey Lavrov.

Read more: Pakistan Pays Russia $93.5 Million Settling Decades Old Dispute

The PSM was closed in 2015 due to heavy financial losses.

The foreign minister said the visit of a Russian foreign minister to Pakistan after nine years reflected a “new and positive dimension” of bilateral relations.

He said the talks would focus on strengthening economic, trade, and defense ties.

Read more: Pakistan and Russia: New military alliance?

Qureshi said Pakistan and Russia were ready to cooperate with each other as their bilateral relations improved with time.

He said Russia was an important country in the region and expressed confidence that the talks would yield good results in fortifying bilateral ties.

Read more: New endgame for Pakistan as Russia’s FM to visit after 10 years

Russia and Pakistan working together

He said both countries wanted to carry out work on the North-South gas pipeline project.

He recalled that during the flour crisis in Pakistan, Russia ensured the supply of wheat so as to help stabilize the price of the commodity. The Federal government approved the purchase of 180,000 tons of wheat from the Russian government at a price of $279 per ton.

Qureshi said Pakistan and Russia were working together in the Afghan peace process. The Russian foreign minister could persuade India to play a positive role in bringing peace to Afghanistan.

Read more: Will stabilising Afghanistan promise regional influence to both Russia and China?

He said the Russian foreign minister would meet Prime Minister Imran Khan and army chief General Qamar Javed Bajwa would also participate in delegation-level talks at the Ministry of Foreign Affairs.

Courtesy: APP with additional input by GVS