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Russian diplomat says PSM restoration negotiations will take place next week.

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On Monday, Russian Ambassador Albert Khorev announced that next week, negotiations will take place between Moscow and Pakistan to restore the Pakistan Steel Mills (PSM).

He told this to Sindh Chief Minister Syed Murad Ali Shah during a meeting at Karachi’s Chief Minister House.

Pakistan wishes to improve its ties with Russia in the areas of health, education, and culture, the chief minister of Sindh stated at the meeting.

Speaking at the event, the Russian Ambassador stated that next week, specialists from Pakistan and Russia will talk about the restoration of the Steel Mill online. Following the online debate, the Russian delegation will visit the Steel Mill.

According to the Sindh chief minister, installing a new steel mill plant would be preferable since it would stabilize the economy and create jobs.

The state-owned company Pakistan Steel Mills (PSM), which has been suffering significant losses for years, was shut down by the federal government on July 3.

According to a statement from the Secretary of Industry and Production, the Sindh government has been offered the opportunity to acquire 700 acres of the PSM’s 19,000 acres of land and build its own steel plant there.

According to the secretary, they discovered that the Pakistan Steel Mills had no buyer last year. He went on to say, “The land will be used for industrial purposes, aside from 700 acres.”

According to Chief Financial Officer (CFO) Arif Sheikh, PSM’s financial losses and subpar performance have led the federal government to decide to shut it down.

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Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Speaking to a press conference, Marriyum Aurangzeb says the PML-N government has restored the trust of investors.

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According to Marriyum Aurangzeb, senior Punjab minister, the PML-N government has won back the trust of investors by making strides in a number of areas, including agriculture.

Marriyum Aurangzeb, speaking at a press conference in Lahore, emphasized the Punjab government’s initiatives to bring about major changes in the province, particularly in Lahore.

Marriyum Aurangzeb stated that in order to guarantee sustainable growth, the master plan for Lahore has been completed, and plans of a similar nature are being worked on for other districts.

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