Undoubtedly Pakistan ranks among the countries which have been blessed by Nature with a wide variety of natural resources. Many countries around the globe have become quite rich by successfully exploring and capitalizing their natural resources.
Unfortunately, Pakistan has not been able to tap and explore the natural resources fully which otherwise would have made it economically a strong country, self-reliant in all respects.
Hopefully something good will come out for unlocking the mineral wealth of the country when the Pakistan Minerals Investment Forum 2025, the first ever of its kind, is held in Islamabad on April 8 and 9, and the federal government also unveils the first -ever National Minerals Harmonization Framework
Prime Minister Muhammad Shehbaz Sharif, while visiting a number of countries quite frequently, has now been offering the mining sector among others for possible investment by these countries. It is worth mentioning here that a number of foreign countries have been showing their keen interest in the mining sector, along with other sectors, for possible investment in Pakistan.
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 exploring body the Oil and Gas Development Company Limited seemingly has moved very fast and come up with quite appreciable plans of hosting perhaps for the first time ever the Pakistan Minerals Investment Forum 2025,an international conference, which is scheduled to be held at the Convention Centre in Islamabad on April 8 and 9. 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, the high profile summit, according to the organizers OGDCL, will surely and certainly feature PM Shehbaz Sharif, Army Chief Gen Syed Asim Munir, and a pretty large number of top officials from the national and international companies.
The organisers expected that during the two days deliberations several Memorandum of Understanding (MoUs) will be signed between the Pakistani and international companies thereby signalling a major step forward towards unlocking the country’s much desired mineral potential as early as possible.Quite obviously, the Forum so being organized by OGDCL will serve as a platform for prospective global investors, policymakers, and industry leaders to explore the investment opportunities, technological advancements, and policy reforms in the so far ignored mining sector of Pakistan in a positive way.
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 as will be unveiled on this occasion. 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 is going to be offering of tax-related incentives for mineral exploration projects, streamlining the licencing procedure, and a defined mechanism for amicable dispute resolution, backed by the Special Investment Facilitation Council (SIFC) there by hopefully making Pakistan a preferred destination for mining investment globally .
Spread over approximately 600,000 sq km,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 50,000 small and medium enterprises and providing employment opportunities to around 300,000 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 Riko Diq copper and gold reserves was one of the world’s largest untapped reserves. All the entities forming Pakistan are rich in the mineral resources but Balochistan and Khyber Pakhtunkhwa provinces are the richest as far as the natural resources are concerned, though they mostly remain untapped even after 77 years of independence.
Cutting the long bitter story short, this scribe can cite thousands of instances where developments, including those for tapping the natural resources, were started but somehow failed to fully realise the objectives due to lack of resources, or fast changing priorities of the governments in power.
One such instance was the Saindak Copper Gold project in Saindak Town in Chagai district of Balochistan which was launched way back in the late 1960s for completion in 19 years. But it was opened only in 1995 when the then federal government failed to provide the required resources for its commercial operations. A Chinese company had then come forward and took over the project for its commercial operations.
Hopefully, something good will come out for unlocking the mineral wealth of the country when the Pakistan Minerals Investment Forum 2025, the first ever of its kind, is held in Islamabad on April 8 and 9, and the federal government also unveils the first -ever National Minerals Harmonization Framework.
