Karachi, The Pasban Democratic Party (PDP) has voiced strong concerns over the government’s handling of Pakistan Steel Mills (PSM), criticizing the lack of action towards operating or privatizing the facility. Altaf Shakur, the chairman of the PDP, highlighted the inefficiency of politicians and bureaucrats in managing the country’s industries and accused the government of planning to sell PSM’s valuable land for personal gain. The PDP advocates for the rehabilitation and restart of the steel mills with international cooperation from countries like Iran, China, or Russia, emphasizing the critical need for steel in Pakistan’s various sectors.

According to Pasban Democratic Party, Shakur expressed disappointment over the government’s reluctance to bring the Pak-Iran project to fruition despite significant investment. He urged for a collaborative decision-making process to ensure that PSM’s land is utilized exclusively for genuine industrial purposes, proposing that the land be leased to the purchasing company with strict conditions to prevent its use for non-industrial activities. Shakur also raised concerns about potential covert acquisitions by foreign industrialists, urging the Prime Minister, Chief Minister of Sindh, and Chief of Army Staff to protect the land from the real estate mafia and other corrupt entities.

The PDP chairman pointed out that Iran has recently shown interest in reviving PSM, following earlier expressions of interest from Russia and China. However, Shakur accused the current rulers of seeking to benefit financially by selling off the land to real estate tycoons. He lamented the decline of PSM, once a profitable entity, due to corrupt practices such as deliberate over-recruitment, drawing parallels with the mismanagement of Pakistan International Airlines (PIA). Shakur called for severe legal and constitutional punishment for those responsible for PSM’s downfall and emphasized the importance of reviving the steel mills for the local economy by providing quality steel at reasonable prices. Rumors of plans to develop a special export industrial zone or a technology park on the PSM land were also mentioned, with a warning about the potential giveaway to Middle Eastern investors. Shakur stressed that the land belongs to the people of Pakistan and Sindh and must be safeguarded against exploitation.