Lawmaker Claims Pakistan Steel Mills Was Quietly Offered to Russia
Fresh controversy has emerged around Pakistan Steel Mills after a lawmaker alleged that the state-owned industrial giant was quietly offered to Russia for sale nearly six months ago.
The claim surfaced during a meeting of the National Assembly Standing Committee on Industries and Production, where members expressed serious concern over reported large-scale theft and administrative lapses at the facility.
The session was chaired by Syed Hafeezuddin, with a subcommittee report presented by committee member Naz Baloch. The report painted a troubling picture of operational decline and governance failures within the organization.
Naz Baloch alleged that theft was occurring on a significant scale inside Pakistan Steel Mills. She further claimed that the mill had been informally offered to Russia, raising questions about transparency and due process in any potential privatization efforts.
According to the lawmaker, the situation at the steel complex has worsened considerably in recent months. She indicated that instead of stabilizing operations, administrative weaknesses and mismanagement have deepened the crisis.
Committee members voiced strong reservations over the reported developments. They directed the Chief Executive Officer of Pakistan Steel Mills to appear before the committee and provide a detailed explanation regarding the alleged theft, administrative shortcomings, and the reported offer to Russia.
Pakistan Steel Mills has long been considered a strategic national asset. Once a cornerstone of the country’s industrial base, the entity has faced years of financial losses, production shutdowns, and restructuring attempts.
The latest allegations add a new layer of complexity to the ongoing debate surrounding the future of the mill. Lawmakers emphasized the need for accountability and transparent decision-making, particularly if discussions regarding foreign interest or privatization are taking place.
The committee is expected to review further evidence and seek clarification from relevant officials in upcoming sessions. Any formal move involving a foreign government or entity would likely require cabinet-level approval and parliamentary oversight.
As scrutiny intensifies, the future of Pakistan Steel Mills remains uncertain. The coming weeks may prove critical in determining whether the facility undergoes restructuring, privatization, or another form of revival strategy.
