Islamabad: A high-level committee, chaired by Minister for Planning Development and Special Initiatives Ahsan Iqbal, has directed the Ministry of Industries and Production (MoI&P) to prepare a feasibility study and business plan to attract investors for a new steel mill in collaboration with Russia.
According to sources, these directives were given during the committee’s fourth meeting, which aims to formulate a comprehensive agenda for an upcoming high-level visit to Moscow by Pakistani officials.
Minister Ahsan Iqbal highlighted the importance of identifying potential projects and collaboration proposals with Russia, whether on a government-to-government (G2G) or business-to-business (B2B) basis. He also expressed disappointment over the absence of secretaries from various ministries and divisions, highlighting the necessity of their participation for effective decision-making.
During the meeting, several trade and business collaboration modules with Russia were discussed, resulting in key decisions:
- All remaining ministries and divisions must submit their strategy papers and roadmaps without delay.
- The Pakistani Embassy in Russia will prepare a document identifying sectors and areas suitable for G2G and B2B collaborations, including any required technical assistance from Russia.
- The Ministry of Commerce will conduct a detailed analysis of potential sectors for boosting exports to Russia.
- In collaboration with the Board of Investment (BoI), the Ministry of Commerce will compile a list of leading business entities involved in trade with Russia to facilitate a meeting.
- The Ministry of Industries and Production will share the feasibility study and business plan to attract investors for the new steel mill project in collaboration with Russia.
- The Ministry of Communication and Railways will re-submit the regional connectivity proposal and develop a comprehensive master plan for the CPEC route to establish it as a connectivity hub for Europe, Central Asia, and the Middle East.
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Committee members have been encouraged to attend meetings personally to ensure timely and effective decision-making. Additionally, the Board of Investment has been included as a committee member to support these initiatives.
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