By Admin 
Pakistan: The friendship between India and Russia is quite old, but in the meantime, this friend of India is getting closer to its biggest enemy Pakistan. Pakistan and Russia have recently signed a deal to resume Pakistan Steel Mills (PSM) in Moscow.
Final deal in Moscow
According to a report by news agency PTI, the agreement between the two countries was reached in the Pakistan Embassy in Moscow. It is just a matter of concern that friendship between the two is not starting from here. Significantly, Pakistan’s close China was also in the race to resume PSM, but now the matter with Russia is confirmed. This steel mill was built with the help of the Soviet Union. The purpose of this deal is to start steel production again in PSM and gradually increase its scope.
Fall started in 2008
The special assistant of Pakistan’s Prime Minister, Aaron Akhtar Khan, who is currently on a visit to Russia, said, “The revival of PSM with Russia’s cooperation shows our shared history and our commitment to a strong industrial future.” Pakistan Steel Mills was constructed in 1971 with the help of the former Soviet Union and remains a permanent symbol of Pakistan-Russia relations. In 2008, the company continued to surround economic troubles. Between 2008-09, it lost 16.9 billion Pakistani rupees, which increased to 118.7 billion in the next five years.
There was a competition in China and Russia
The governments of Pakistan People’s Party (PPP) and Pakistan Muslim League-Nawaz (PML-N), who were in power from 2008 to 2018, failed to run it properly. Later, Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) government launched an initiative to revive it, causing a competition between China and Russia to get a contract. Initially, the PTI government was in favor of China and had also started talks with a Chinese company, but could not become a matter.
Also read:
The company’s big announcement, 250 percent dividend will be received on every stock; Record date is also close