In partnership with
RUSSIA-PAKISTAN IN TALKS ABOUT POTENTIAL OIL AGREEMENT: AURANGZEB
Profit
Wednesday, 17 December, 2025 | 25 Jamadiul Sani, 1447
g
FINANCE MINISTER AURANGZEB SAYS PAKISTAN, RUSSIA EXPLORING CONSTRUCTION OF ANOTHER STEEL PLANT
g
Rs 20.00 | Vol XVI No 162 | 8 Pages | Karachi Edition
RUSSIA ALSO DISCUSSES UPGRADING A REFINERY IN PAKISTAN WITH HELP FROM RUSSIAN COMPANIES
pakistan, Russia sign second protocol to revive pakistan Steel Mills PROFIT
Monitoring Desk
R
PROFIT
Monitoring Desk
USSIA and Pakistan are in talks on a potential oil-sector agreement, Pakistan’s Finance Minister Muhammad Aurangzeb told Russia’s RIA news agency in remarks published on Tuesday. “All of these areas are Russia’s strengths. And we would be very happy if Russia agreed on an agreement in this sector with Pakistan,” Aurangzeb told RIA in an interview when asked about wider cooperation in exploration, production and refining between the two countries. “At present, the issue is being discussed by the energy ministries of both sides.” According to Reuters, Russia also discussed upgrading a refinery in Pakistan with Russian companies involved, Russian Energy Minister Sergei Tsivilev had said in November. Pakistan has stepped up engagement with Russia in recent years as Moscow
sought new energy markets after Western sanctions over Ukraine, and Islamabad looked to lower import costs. Pakistan began buying Russian crude in 2023. The development of a refinery in Pakistan and broader energy sector cooperation are also key focuses of the bilateral talks. Aurangzeb also said Russia and Pakistan are looking into building another steel plant in Pakistan, RIA reported. Pakistan is adamant on intensifying its energy and minerals collaboration with Russia, including exploring joint ventures in exploration, production, and refining, following recent discussions at the 14th St. Petersburg International Gas Forum (SPIGF) 2025. Finance Minister Muhammad Aurangzeb highlighted these initiatives in his interview. At the SPIGF, held from October 710, Federal Minister for Petroleum Ali Pervez Malik represented Pakistan, outlining the country’s energy reforms and investor-friendly policies. Malik emphasized Pakistan’s efforts to diversify its energy
IHC dismisses two objections raised by Justice Tariq Jahangiri in ongoing degree case ISLAMABAD
staff CorresponDent
The Islamabad High Court (IHC) Tuesday dismissed two objections raised by Justice Tariq Jahangiri in the ongoing degree case. A four-page written order issued by a division bench headed by Chief Justice Sarfraz Dogar rejected Justice Jahangiri’s objection regarding the formation of a twomember bench instead of a single-judge bench. IHC stated that serious allegations had been made against a sitting judge concerning degree authenticity. Considering the sensitivity of the matter, the formation of a two-member bench fell within the administrative powers of the Chief Justice, the order added. The court emphasized that forming a special bench is not unprecedented, and Justice Jahangiri’s claim of bias against the Chief Justice lacks any legal justification. Appeals by Justice Jahangiri and other judges regarding transfers of the Chief Justice had previously been dismissed by the Federal Shariat Court.
Pakistan and Russia have signed the second protocol under the Pakistan-Russia Inter-Government Commission (IGC) to advance the revival of Pakistan Steel Mills (PSM) and agreed to prepare a bankable Engineering, Procurement, and Construction (EPC) framework to take the process forward, Business Recorder reported, citing official sources. The decision was taken during the 10th meeting of the IGC held in late November 2025, attended by senior officials from the Ministry of Industries and Production and representatives of the Russian government. The meeting agreed on preparing a bankable feasibility study for the revival of the loss-making steel mill. The government has decided not to operate PSM and will proceed with its privatisation. Local and international steel companies will be facilitated to acquire the mill, and an expression of interest is expected to be issued in the coming weeks once the feasibility work is completed. At Pakistan’s request, Russia has presented two technical options for reviving the mill. The first is based on a blast furnace model with an estimated
sector and attract international investments to ensure long-term sustainability. The SPIGF event, attended by over 30,000 participants from 50 countries,
cost of $1.91 billion, while the second proposes construction of a new facility using Electric Arc Furnace (EAF) technology at a cost of about $1.05 billion. Pakistan has estimated iron ore reserves of around 1.887 billion tonnes, yet continues to import nearly $6 billion worth of iron, steel, and scrap annually. Officials said domestic steel production remains below demand, with the supply gap estimated at 3.1 million tonnes last year. The Ministry of Industries and Production is also working with the Ministry of Maritime Affairs on a separate plan to revive PSM through a maritime-industrial partnership centred at Port Qasim. Under the plan, the facility would be converted into a ship recycling and repair complex with a floating dock capable of handling Aframax-class vessels. Steel recovered from dismantled ships would either be supplied to PSM or processed at a nearby facility into industrial-grade steel. Officials said the project could reduce steel imports by up to 20 percent, potentially saving more than $13 billion over the next decade. According to a World Bank report, Pakistan currently imports around $6 billion worth of steel annually, with demand projected to grow by nearly 6 percent per year through 2035.
focused on natural gas development, exploration technologies, and sustainable energy systems.
Continued on page 03
All abducted bus passengers recovered after joint operation near Ghotki: DIG GHOTKI
staff CorresponDent
All 20 passengers abducted by dacoits from a bus near Ubauro in Sindh’s Ghotki district have been recovered unharmed, Sukkur Range Deputy Inspector General of Police (DIG) Captain (retired) Faisal Abdullah Chachar said on Tuesday. The abduction took place on Monday night when around 25 armed dacoits attacked a passenger bus in the Sadiqabad area, injuring the driver and kidnapping several passengers. DIG Chachar told the media that he reached Ghotki and personally led a large joint operation involving police contingents from Ghotki, Sukkur, Khairpur and Kashmore, along with personnel from the Rangers. The operation was carried out under his command alongside senior officers, including Ghotki SSP Muhammad Anwar Khetran, Sukkur SSP Azhar Khan Mughal and Khairpur SSP Samiullah Soomro. “We rescued all the hostages unharmed after engaging the dacoits in a gunfight,” the DIG said, adding that police had swiftly blocked all routes leading to the Katcha area, preventing the attackers from taking the hostages deeper into the riverine belt. The recovered passengers later informed police that two dacoits were injured during the operation. Meanwhile, a police constable sustained injuries to his hand during the exchange of fire and was shifted to Rahim Yar Khan Hospital for treatment. A police spokesperson said a search operation against the dacoits was still under way. The Rahim Yar Khan district police officer clarified that the passengers were not abducted from his jurisdiction but from a section of a link road passing through Guddu in Sindh. “Sindh police have recovered all the hostages from the armed dacoits,” he said. Earlier, Mirpur Mathelo Deputy Superintendent of Police Abdul Qadir Soomro told media that 14 passengers had initially been recovered. He added that one hostage later died of a heart attack in a sugarcane field, while two others were shifted to hospital for medical treatment. The deceased’s body was moved to Ubauro Hospital. An earlier statement by DIG Chachar had said that 10 kidnapped passengers were rescued during an initial overnight operation. The attack According to videos circulated on social media after 9:30pm on Monday, a passenger said a Sadabahar Company coach had departed for Quetta from Sadiqabad at around 8pm. Near the Murid Shaikh area close to the M-5 Motorway, the bus turned towards Guddu at the Punjab-Sindh border.
Lawmakers hail security forces’ sacrifices on apS anniversary RAWALPINDI
staff report
On the 11th anniversary of the Army Public School tragedy, parliamentarians paid tribute to Pakistan’s armed forces and law enforcement agencies, saying their sacrifices were central to defeating terrorism, restoring stability and safeguarding national security. Federal Minister for Railways Muhammad Hanif Abbasi said the December 16 attack united the nation with a shared resolve against extremism. He said Pakistan’s armed forces played a decisive role in dismantling terrorist networks and improving the country’s security landscape. The sacrifices of the martyrs, he added, remain a reminder of the need for steadfast resistance against terrorism. Parliamentary Secretary for Information and Broadcasting Danyal Chaudhry said the APS attack was not merely an assault on a school but a direct strike against humanity, peace and education. He praised the swift and courageous response of the armed forces, saying their professionalism and commitment earned
them national and international recognition in preserving peace. MNA Malik Abrar Ahmad said the blood of the martyrs strengthened the country’s defence and reinforced national unity. He said the armed forces made an indelible contribution to the fight against terrorism, adding that December 16 symbolises collective patience, sacrifice and resolve. Engineer Qamar-ul-Islam Raja, MNA, said the martyrdom of innocent children plunged the entire nation into grief. He noted that despite immense challenges, the Pakistan Army and security institutions continued to uphold peace and stability across the country. MPAs Malik Iftikhar Ahmad and Malik Mansoor Afsar highlighted the unity displayed by the armed forces, law enforcement agencies and the public during the war on terror. They said the consistent support of security forces was essential in eliminating terrorism and protecting the country from internal and external threats. Chaudhry Naeem Ijaz, MPA, said December 16 proved that the nation could not be divided by violence. He said
on apS attack anniversary, pM vows to continue relentless operation against terrorism ISLAMABAD
staff report
Prime Minister Shehbaz Sharif on Tuesday paying tribute to the martyrs of the Army Public School Peshawar tragedy, reiterated his government’s resolve to maintain an uncompromising zero-tolerance stance on terrorism and continue relentless and full force antiterror operations till the elimination of the scourge in toto. The prime minister, in his message on the APS attack anniversary, said that the great sacrifices rendered for Pakistan’s bright future would never go in vain as the state, security institutions, and the people stood united and determined to eliminate terrorism and extremism.
the armed forces defeated terrorists through determination and sacrifice,
“Today, we pay tribute to the martyrs of the Army Public School Peshawar tragedy, who sacrificed their precious lives for the future of our beloved homeland. This heart-wrenching incident was a great ordeal for the entire nation, which deeply saddened us but failed to break our resolve,” he remarked. He said that the sacrifices of the innocent children, teachers, and staff of APS would always remain etched in the national conscience and only the elimination of terrorism from the country would be the meaningful justice for this heinous tragedy. The prime minister said that the entire nation shared the grief of the martyrs' bereaved families, and saluted their patience and resilience.
adding that the struggle would continue until terrorism is fully eradicated.