Billions in Mineral Wealth Could Liberate Pakistan from IMF Dependence - PM Shehbaz

 

A two-day forum is designed to attract foreign investments and create enduring alliances by showcasing the vast mineral riches of Pakistan.

Prime Minister Shehbaz Sharif has extended a call to both domestic and international investors to capitalize on Pakistan’s extensive mineral assets, which are valued in the trillions of dollars.

Addressing the Pakistan Minerals Investment Forum 2025 (PMIF25) in Islamabad on Tuesday, the Prime Minister shared a hopeful outlook, asserting that tapping into these resources could free Pakistan from its reliance on global financial entities such as the International Monetary Fund (IMF).

In his remarks, PM Shehbaz Sharif emphasized the necessity of processing and exporting refined and semi-refined mineral commodities rather than merely exporting raw materials abroad.

He further proposed that investment agreements should incorporate technology transfer, ensuring that Pakistan benefits from sustainable growth in the sector over time.

The Prime Minister also urged investors to consider forging joint ventures aimed at establishing vocational training hubs across the country, a strategic move that would equip Pakistan’s youth with essential modern skills and contribute significantly to its industrial advancement.

Assuring the audience of comprehensive governmental backing, PM Sharif affirmed that both federal and provincial authorities, alongside other institutional bodies, are committed to positioning Pakistan as a global leader in mineral resource management.

The forum, which spans two days, seeks to attract significant foreign direct investment and foster long-term international partnerships, showcasing Pakistan’s untapped mineral potential.

The event drew over 2,000 participants, including 300 foreign delegates from countries such as the United States, China, Saudi Arabia, the United Kingdom, Finland, Denmark, and Kenya.

In his opening speech, Deputy Prime Minister Ishaq Dar remarked that Pakistan is poised to emerge as a dominant force in the global mining arena, highlighting its rich geological landscape and largely untapped mineral wealth.

He pointed out that Pakistan is home to monumental deposits such as Reko Diq, as well as vast reserves of rare earth elements, industrial minerals, and precious gemstones, including peridot and emerald, that are coveted worldwide.

At the forum, Dar unveiled the National Minerals Harmonisation Framework 2025—a comprehensive reform initiative crafted to draw in investors and simplify policies in a sector currently contributing a modest 3.2% to the national GDP.

“The mineral industry holds the potential to transform our economy, revolutionize supply chains, and elevate our export profile,” Dar remarked. “We are laying the foundation for a robust ecosystem, bringing together local and international stakeholders.”

The event, which received joint support from federal and provincial governments, also saw the participation of Prime Minister Shehbaz Sharif and Chief of Army Staff General Asim Munir, underscoring the strong institutional backing for the proposed reforms.

The United States was represented at the forum by Eric Meyer, Senior Bureau Official at the Bureau of South and Central Asian Affairs, while Saudi Arabia’s Vice Minister for Minerals expressed a keen interest in exploring potential strategic partnerships.

During a panel discussion, Minister for Commerce Jam Kamal highlighted that Pakistan’s mineral wealth has the capacity to draw global and regional attention, provided that security and regulatory concerns are adequately addressed.

“Balochistan is poised to take the lead in this transformation,” he stated. “Our resource base is substantial, and we are ready to provide the necessary support to facilitate investment.”

Kamal underscored that investment in the minerals sector requires long-term commitment, urging foreign companies to consider joint ventures and public-private collaborations that extend beyond mere extraction.