KARACHI: The technical and economic feasibility report on the proposed Karachi Steel Mill being prepared by Soviet experts will be ready by August, Soviet Ambassador M.V. Degtyar said here yesterday [July 6]. The Soviet Envoy said that after the preparation of the report, Soviet and Pakistani experts would meet in either country to finalise their recommendations. Mr Degtyar returned here on Sunday from Moscow where he had gone in connection with President Yahya Khan’s recent State visit to the Soviet Union.

Ambassador Degtyar hoped that the feasibility report would be “favourable and positive to Pakistan”. The Soviet Union, it may be recalled, has agreed to provide the “necessary credit” for the financing of the one million-ton capacity steel mill to be built near Karachi. Pakistan has estimated the cost of the steel mill project at 200 million dollars. The Soviet Ambassador said that during President Yahya’s visit it was agreed that appropriate Soviet organisation will thoroughly study a list of further projects which the Soviet Union would finance during the Fourth Five-Year Plan. He described President Yahya’s visit as “very interesting, useful and friendly”. Mr Degtyar said the Soviet leaders received President Yahya very warmly and cordially and discussed with him all problems — international as well as bilateral. — Agency

Published in Dawn, July 7th, 2020