UNDOUBTEDLY, Pakistan ranks among the countries blessed by nature with a wealth of natural resources.
Many nations around the globe have become quite wealthy by successfully exploring and capitalizing on their natural resources.
Unfortunately, Pakistan has not been able to fully tap into these resources, which could have made it an economically strong and self-reliant country.
Prime Minister Muhammad Shehbaz Sharif, during his frequent visits to various countries, has been promoting the mining sector, among others, as a potential area for foreign investment.
It is worth mentioning that several foreign countries have shown keen interest in investing in Pakistan’s mining sector, alongside other industries.
Apparently in pursuance of the keen interest shown by the leadership of the friendly countries for their possible investment in the mining sector along with other sectors in Pakistan and subsequently express directions issued by the PM to all public sector organizations, main oil and gas exploration body the Oil and Gas Development Company Limited (OGDCL) seemingly has moved very fast and come up with a quite appreciable plans of hosting perhaps for the first time ever the Pakistan Minerals Investment Forum 2025, an international conference, which was scheduled to be held at the Convention Centre in Islamabad on April 8 and 9,2025.
According to the organizers, the important international event aims hopefully and expectedly to attract foreign investment and thus promote the country’s mining sector, which was greatly desired and wanted.
Furthermore, according to the organizers, the high-profile summit will undoubtedly feature Prime Minister Shehbaz Sharif, Army Chief General Syed Asim Munir and a large number of top officials from both national and international companies.
The organizers expect that during the two-day deliberations, several Memoranda of Understanding (MoUs) will be signed between Pakistani and international companies, signalling a major step forward in unlocking the country’s much-desired mineral potential as soon as possible.
Clearly, the forum organized by OGDCL will serve as a platform for prospective global investors, policymakers and industry leaders to explore investment opportunities, technological advancements and policy reforms aimed at reviving Pakistan’s mining sector, which has long been neglected.
At the Pakistan Mineral Investment Forum, the federal government plans to launch the National Minerals Harmonization Framework 2025.
This will be such a major policy document which will be unveiled for the first time ever.
The framework so being announced quite understandably has been designed to streamline all regulations relating to mining throughout the country and aims to foster an investment-friendly environment for prospective local and international investors.
According to the information available from the concerned quarters, an important feature of the upcoming framework was going to be offering of taxes-related incentives for minerals exploration projects, streamlining the licensing procedure and a defined disputes amicably resolution mechanism, backed by the Special Investment Facilitation Council (SIFC) there by hopefully making Pakistan a preferred destination for mining investment globally.
Spread over approximately 600000 square kilometres, Pakistan’s mineral-rich landscape boasts as many as 92 known minerals out of which only 52 were being exploited at small and large scales so far.
The country produces an estimated 68.52 million metric tons of minerals annually supporting 5000 operational mines and 50 thousand small and medium enterprises and providing employment opportunities to around three lakh workers.
Pakistan’s mineral reserves include the world’s second largest salt mines at Khewra and the fifth -largest copper and gold deposits, along with substantial coal, bauxite, gypsum and gemstone deposits.
These mostly untapped reserves present lucrative export opportunities and could help in driving the economic growth upward if all goes well.
The Reko Diq copper and gold reserves were one of the world’s largest untapped reserves.
All the entities forming Pakistan were rich in the mineral resources but Balochistan and Khyber Pakhtunkhwa provinces were the richest as far as the natural resources were concerned though mostly remain untapped even after 77 years so far.
Cutting the long bitter story, this scribe can cite numerous instances where development projects, including those for tapping natural resources, failed to meet objectives due to a lack of resources and changing government priorities.
One such case was the Saindak Copper Gold project in Chaghai, Balochistan, launched in the late 1960s with a 19-year completion timeline.
However, it only opened in 1995 due to the federal government’s failure to provide the necessary resources.
A Chinese company later took over the project for its commercial operations.
With hope, the first-ever Pakistan Minerals Investment Forum 2025, held in Islamabad on April 8-9, and the unveiling of the National Minerals Harmonization Framework 2025 by the federal government may lead to progress in unlocking the country’s mineral wealth.
—The writer is Lahore-based freelance journalist, columnist and retired Deputy Controller (News), Radio Pakistan, Islamabad. (zahidriffat@gmail.com)
