• Premier claims country’s mineral wealth has potential to deliver shared prosperity
• Dar says resource corridor primed to reshape global supply chains, attract investment
• COAS pledges full security support, proactive measures to protect investor interests
• Under new policy, govt won’t allow raw material export; investors must build local downstream industries
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday invited foreign investors and entrepreneurs to explore Pakistan’s mineral sector, offering investment-friendly policies, technology partnerships and research collaboration and stressing that the country’s mineral wealth has the potential to deliver shared prosperity.
Meanwhile, Chief of Army Staff (COAS) Gen Asim Munir said Pakistan would provide robust security to protect the interests of investors and partners amid heightened unrest in the mineral-rich Balochistan.
Addressing the Pakistan Minerals Investment Forum 2025 at the Jinnah Convention Centre, Islamabad, the premier said the country is blessed with immense natural wealth — from the rugged terrain of Balochistan to the snow-covered peaks of Khyber Pakhtunkhwa and the pristine landscapes of Gilgit-Baltistan (GB) and Azad Jammu and Kashmir (AJK).
He said the valleys of Sindh and plains of Punjab also possessed immense natural resources worth trillions of dollars.
“If we are able to harvest these great assets, I can say without any contradiction that Pakistan will say goodbye to the IMF programmes,” he said, acknowledging that the global financial institution had been a great source of support for the country for decades.
PM Shehbaz urged foreign investors to seize current opportunities without the burden of borrowing and instead form strong, mutually beneficial partnerships with Pakistan, leading to a win-win situation for all.
More than 300 delegates, including governors, chief ministers, the Army chief, federal ministers, diplomats and corporate leaders attended the event, held under the Special Investment Facilitation Council (SIFC).
Terming the existing potential in the minerals sector beneficial for all, the prime minister said that Pakistan was blessed with fertile land and its brave people were ready to accept all challenges.
He expressed confidence that if they put their acts together and are geared towards the set goals, they could get beneficial dividends. He assured complete support from the federal government, provinces, institutions and the Army in this regard.
He highlighted the mineral potential across all provinces — from Punjab’s Chiniot iron ore reserves to Sindh’s vast coal deposits and the untapped resources of KP, AJK and GB.
The prime minister said the government would no longer allow the export of raw materials. “Instead, investors must establish downstream industries to process minerals locally and export finished products. This policy is now a cardinal principle for international partnerships,” he declared.
The prime minister also welcomed all the companies from Europe, the United States, China, Saudi Arabia, UAE, Turkiye, etc, to invest in the country’s minerals sector. He encouraged them to invest in vocational training centres for Pakistani youth, enabling them to develop modern skills and become future entrepreneurs.
He informed the participants that provincial governments had been working to provide a conducive environment to foreign investors.
PM Shehbaz specifically lauded Mark Bristow, the CEO of Barrick Gold, for his commitment to the Reko Diq project.
“Under his leadership, a decades-old stalled project is now progressing and should serve as an example to others,” the premier said.
Global supply chains
Deputy Prime Minister and Foreign Minister Ishaq Dar said Pakistan is strategically poised to become a global mining hub.
In his opening remarks at the event, he said the country holds vast untapped reserves of rare earth elements, industrial minerals and gemstones, anchored in the Tethyan Metallogenic Belt — home to Reko Diq, one of the world’s largest copper-gold deposits.
“As an advocate of economic diplomacy, I consider it a crucial tool in our shared mission to transform Pakistan’s trade and investment landscape not only broadly but also specifically within the minerals sector,” he remarked.
“Strong remittance inflows and increasing FDI are providing much-needed foreign exchange, boosting domestic consumption, investments and overall economic growth,” Mr Dar said.
“These achievements, coupled with improved credit ratings from Fitch and Moody’s, underscore our commitment to economic stability and fiscal discipline.”
He said the government had prioritised the strategic development of the minerals sector through progressive policy reforms and investor-centric initiatives.
By aligning its regulatory frameworks with competitive fiscal terms, Pakistan was positioning itself as a dynamic hub for sustainable, high-yield ventures in resource exploration, extraction, refining, logistics and infrastructure, Mr Dar added.
“To truly unlock the true potential of this sector, we need more than just capital… Investment in the mineral sector represents not only financial opportunity but a vital step towards securing a sustainable and technologically advanced future for generations to come,” he said.
He said the forum provided a unique platform for stakeholders, friendly countries and partners to converge, explore new prospects and build mutually beneficial partnerships.
“This forum is anchored in the three pillars — potential, people and policy — a vision the government of Pakistan is implementing to drive shared prosperity and sustainable growth… Let us fully appreciate the tremendous value of this sector and the responsibility that comes with it. Let us invest with purpose, with foresight, and with the collective well-being of the people of Pakistan in mind,” he added.
‘Leading mineral economy’
Addressing the forum, COAS Gen Asim Munir said Pakistan was poised to emerge as a leader in the global mineral economy. “I firmly believe that Pakistan is ready to take a leading role in the international mineral economy,” he said.
Welcoming international institutions, he invited global stakeholders to bring their expertise to Pakistan, explore investment opportunities, and partner with us to develop the vast potential of our mineral resources.
He said there was a dire need for engineers, geologists, operators, and skilled miners to explore Pakistan’s mineral wealth. “That is why we are also sending students abroad for training to support the development of this sector,” he said.
Gen Munir said that currently as many as 27 Pakistani students belonging to Balochistan were receiving training in mineral exploration in Zambia and Argentina.
The COAS said economic security has now emerged as a vital component of national security.
He assured that the Pak Army would ensure a robust security framework and proactive measures to protect the interests and confidence of partners and investors.
The development of both upstream and downstream mineral industries in Pakistan will be ensured, he said.
Gen Munir stressed the importance of investing in refining and value addition in order to reduce costs and diversify markets in Pakistan. “With vast mineral reserves beneath our soil, skills in our hands and a transparent mineral policy in place, there is no room for despair or inaction,” he insisted.
Acknowledging the contribution of the tribal elders of Balochistan, Gen Munir praised their role in promoting mining activities and fostering development and progress in the province. “Through collective efforts, Pakistan’s mineral sector can become a driver of regional development, prosperity and sustainability for the common good,” he said.
Published in Dawn, April 9th, 2025
