Karachi, Altaf Shakoor, the Chairman of the Pasban Democratic Party (PDP), emphasized the critical importance of reviving the Pakistan Steel Mills (PSM) for economic enhancement in Karachi on Sunday. He criticized the Sindh provincial government and the central authorities for their lack of interest in this vital industrial revival, suggesting that external partnerships could foster significant economic benefits.

According to Pasban Democratic Party, Shakoor outlined potential international collaborations with Iran, Russia, and China, who have shown interest in revitalizing the PSM, contrasting these opportunities with alleged local plans to convert the mill’s valuable land for real estate development, which he argued could involve corrupt transactions. Shakoor highlighted the global profitability of the steel industry and reminisced about the PSM’s past successes before accusing political mismanagement for its decline. He paralleled this situation with similar issues at Pakistan International Airlines (PIA), advocating for accountability and action against the corruption that undermined these entities.

Further, Shakoor addressed rumors regarding the conversion of PSM land into an export industrial zone or technology park, voicing concerns over potential misappropriation by real estate and political interests. He called for a focus on industrial use, particularly advocating for a PSM revival with international support to provide essential steel resources domestically. Shakoor’s demands extended to the Prime Minister, the Sindh Chief Minister, and the Chief of Army Staff, urging them to prevent the alleged appropriation of PSM land by real estate interests and to seek justice for corrupt practices that have jeopardized the project.