Islamabad: A high-level committee led by Minister for Planning Development and Special Initiatives Ahsan Iqbal, has tasked the Ministry of Industries and Production (MoI&P) with preparing a feasibility study and business plan to attract investors for a new steel mill in collaboration with Russia, as reported on August 2.
As per sources informed that these instructions were issued during the committee’s fourth meeting, which is crafting a comprehensive agenda for an upcoming high-level visit to Moscow by Pakistani officials.
Minister Ahsan Iqbal underscored the need to identify potential projects and proposals for collaboration 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, emphasizing the importance of their participation for effective decision-making.
During the meeting, various trade and business collaboration modules with Russia were discussed, leading to several key decisions:
All remaining ministries and divisions are to submit their strategy papers and roadmaps without delay.
The Pakistani Embassy in Russia will prepare a document pinpointing 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.
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.
