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Pakistan to decide on Karachi steel mill future in 2022 — Minister

Pakistan needs about 10 mln tonnes of steel per year, while the Karachi Steel Mills capacity was 1 mln tonnes annually

YEKATERINBURG, November 25. /TASS/. The government of Pakistan will decide on the future of the Karachi Steel Mills built with assistance of the USSR in 2022, Federal Minister for Economic Affairs Omar Ayub Khan told TASS on Thursday.

"The plant used technologies of the 60-the 70s of the last century. It was closed a few years back. The Pakistani government is discussing how to further develop this plant. Various options are being considered, including investments in equipment modernization," the official said.

Pakistan needs about 10 mln tonnes of steel per year, while the Karachi Steel Mills capacity was 1 mln tonnes annually, the Minister said. "Our country is now importing steel. It is important for Pakistan, as a large country, to produce steel itself, but if the plant is restored, it will close only 10% of the demand," Omar Ayub Khan noted.

The decision on the plant’s future will be made in 2022, he added.

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