Russian President Vladimir is expected to visit Pakistan next year to inaugurate South-North LNG pipeline project. It has been widely reported that Russia has agreed to make a $2 billion investment in the pipeline project. In return, there will be no bidding for the project. The Russia-Pakistan deal is said to be an effort towards improving Islamabad's investment prospects. No doubt, higher investment inflows are what Pakistan needs at this point in time.
As pointed out Business Recorder op-ed writer AB Shahid in of his articles last month "the only way out is higher investment inflow, but in that context too priorities are guided by self-interest; latest example thereof is that, instead of seeking technological and funding support from Russia for modernising the Russian-built PSM (highest loss-making state enterprise), Pakistan signed a deal with Russia for laying a pipeline for LNG - the government's favourite sector." The government is, therefore, required to seek technological assistance from Russia to help revive a dysfunctional Pakistan Steel before its sell-off.