Where on the one hand, the government of India is busy in proving Pakistan to prove the terrorists in the whole world. On the other hand, the country’s closest friend country has made a historic deal with Pakistan. Pakistan’s economy is expected to get a lot of boost from this deal. The government of Pakistan was engaged for a long time for this deal. By the way, the kind of deal has been done by the friend of India. China also wanted to do the same deal. But Pakistan thought it right to catch India’s friend, leaving its help. Now the biggest question is that which friend of India is the deal with Pakistan? Also, which deal is this deal by which Pakistan’s economy can get boost? Let us also tell you…
India’s friend’s deal with Pakistan
Russia, one of the supreme friends of India, has signed an agreement for revival and modernization of the Pakistan Steel Mills Project. According to media reports, this will begin a new chapter of cooperation between the two countries. China was also in the race to get the contract for Pakistan Steel Mills (PSM) project, which was originally formed with Soviet help. According to a report by the Government News Agency Associated Press of Pakistan (APP), the agreement to revive the PSM in Karachi was signed at the Pakistani Embassy in Moscow on Friday.
Soviet Union helped in 1971
The APP said that the purpose of this project is to restore and expand steel production, which will write a new chapter in bilateral cooperation. According to the statement issued by the Press Information Department, PSM was originally built in 1971 with the help of the former Soviet Union and it remains a permanent symbol of Pakistan-Russia relations. The steel mill incurred a loss of 16.9 billion Pakistani rupees in 2008-09, which increased to 118.7 billion Pakistani rupees in five years.
Imran Khan started the initiative
The governments of Pakistan People’s Party (PPP) and Pakistan Muslim League-Nawaz (PML-N), who were in power from 2008 to 2018, could not run this industrial sector efficiently. Later, Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) government started the initiative to revive it, which led to the competition between China and Russia to get the contract. Now after many years, Russia left China behind and won this project.