Pakistan approves industrial estate on steel mills land, $10 million upgrade for state TV English channel

A man walks past machines at the hot strip mill department of the Pakistan Steel Mills (PSM) on the outskirts of Karachi, Pakistan, on February 8, 2016. (REUTERS/File)
Short Url
Updated 14 August 2025
Follow

Pakistan approves industrial estate on steel mills land, $10 million upgrade for state TV English channel

  • Pakistan Steel Mills, once country’s biggest industrial complex, is dormant since 2015, governments have long debated how to repurpose its land
  • ECC also approved funds for climate diplomacy at COP-30 in Brazil, grant to upgrade PTV’s English news channel to enhance global outreach

KARACHI: Pakistan’s top economic decision-making body has approved plans to build an industrial estate on the land of the country’s largest state-owned steel producer, part of a package of measures aimed at boosting exports, investment and climate diplomacy, the finance division said this week. 

Pakistan Steel Mills (PSM), located in Karachi, was once the country’s biggest industrial complex but has been largely dormant since 2015 due to financial losses and mismanagement. Successive governments have sought to privatize or repurpose its land and assets.

The Economic Coordination Committee (ECC), which oversees key economic policy, said turning the site into an industrial estate would generate jobs and attract investment.

“The ECC approved the development of an Industrial Estate on the land of Pakistan Steel Mills (PSM) in Karachi, aimed at boosting industrial activity, generating employment opportunities, and attracting investment,” the Finance Division said in a statement after a meeting chaired by Finance Minister Muhammad Aurangzeb on Wednesday evening. 

The ECC also approved measures to support Pakistan’s leather industry, including scrapping the requirement for health quarantine certificates on imports and exports to “enhance its competitiveness in international markets.”

Another major decision was the allocation of a technical supplementary grant of 2.8 billion rupees ($10 million) for the state-run Pakistan Television Corporation to upgrade its English-language news channel. The committee said the goal was to “improve broadcast quality and expand outreach to global audiences,” while urging the channel to develop a business plan to reduce reliance on federal subsidies.

In addition, a separate grant was approved for the Ministry of Climate Change to strengthen its participation at the upcoming COP-30 climate summit in Brazil, reflecting Pakistan’s push to maintain visibility in global climate talks after championing the “Loss and Damage” agenda in 2022.

The Finance Division said the ECC chair concluded the meeting by stressing “the importance of timely and effective implementation of these decisions to ensure their intended economic and social benefits.”


Pakistan’s JF-17 fighter jet draws ‘strong interest’ at Riyadh defense exhibition

Updated 13 sec ago
Follow

Pakistan’s JF-17 fighter jet draws ‘strong interest’ at Riyadh defense exhibition

  • Jets showcased as Pakistan seeks to expand defense exports
  • Interest in JF-17 has heightened after May 2025 conflict with India 

ISLAMABAD: Pakistan’s JF-17 Thunder fighter jet has drawn “strong interest” at the World Defense Exhibition in Riyadh, Pakistan’s state broadcaster said on Sunday, as Islamabad promotes the aircraft to international buyers at one of the region’s largest defense industry events.

The exhibition brings together defense officials, manufacturers and military delegations from dozens of countries, offering a platform for arms exporters to showcase equipment and pursue new contracts amid heightened global and regional security concerns.

Saudi Arabia has sought to position Riyadh as a regional hub for defense and aerospace exhibitions, using such events to foster partnerships and attract international manufacturers as part of broader diversification efforts. 

Last year Islamabad signed a mutual defense pact with Riyadh and is reportedly discussing another defense agreement involving Saudi Arabia and Turkiye, although details have not been made public.

“At the World Defense Exhibition in Riyadh, the Pakistan Air Force’s JF-17 Thunder has attracted strong interest from visitors and defense experts, standing out among fighter jets displayed by the US, Saudi Arabia and other countries,” state broadcaster Pakistan Television reported.

Islamabad is attending the exhibition in the backdrop of talks with at least 13 countries, six to eight of which are in an advanced stage, for deals involving JF-17 jets made jointly with China as well as training aircraft, drones, and weapons systems, according to recent media reports. 

Interest in the JF-17 jets has been bolstered by its operational visibility following the Pakistan-India military confrontation in May 2025, which Pakistani officials and defense analysts have cited as reinforcing the aircraft’s combat credibility.

Islamabad has increasingly positioned the JF-17 as a cost-effective multirole combat aircraft for countries seeking alternatives to high-end Western fighter jets. The aircraft is already in service with several foreign air forces and remains central to Islamabad’s defense export strategy.

Countries engaged in talks include Sudan, Saudi Arabia, Indonesia, Morocco, Ethiopia, and Nigeria as well as the government in eastern Libya led by Khalifa Haftar. Discussions on JF-17s and other weapons with Bangladesh and Iraq have been publicly acknowledged by Pakistan’s military, although more details have not been made public.

Almost all the potential buyers are Muslim-majority nations, like Pakistan. Many are from the predominantly Muslim Middle East, where Pakistan has historically been a security provider.