PM Shehbaz opens doors to investment in Pakistan’s trillion-dollar natural resources

• Prime Minister Shehbaz Sharif urges foreign investors and entrepreneurs to invest in Pakistan’s mineral exploration sector.
• He urged mineral companies to establish vocational centers to train Pakistani youth.
• Sharif reassured that the vast, arid areas would soon transform into industrial hubs.

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday urged foreign investors and entrepreneurs to take advantage of Pakistan’s investment-friendly policies by investing in the country’s mineral exploration sector. He encouraged them to bring their capital, technology, research, and expertise to help unlock the sector’s vast potential.

Addressing Pakistan’s Minerals Investment Forum at the Jinnah Convention Center, Prime Minister Shehbaz Sharif said that Allah Almighty had blessed Pakistan with vast natural resources, stretching from the rugged mountains of Balochistan to the snow-covered peaks of Khyber Pakhtunkhwa, and the pristine heights of Gilgit Baltistan and Azad Jammu and Kashmir.

He stated that the valleys of Sindh and the plains of Punjab also held immense natural resources worth trillions of dollars.

“If we can 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.

The prime minister said that by properly tapping into the country’s natural resources, Pakistan could free itself from the burden of loans, debts, and costly foreign borrowing. He urged foreign investors to turn existing opportunities into reality through strong, debt-free partnerships that would lead to mutually beneficial, win-win outcomes.

The Special Investment Facilitation Council (SIFC) hosted the event, which drew more than 300 delegates from around the world. Governors, chief ministers, Chief of Army Staff General Syed Asim Munir, ministers, parliamentarians, diplomats, and representatives of various local and international companies attended the forum.

The prime minister described the existing potential in the minerals sector as beneficial for all. He said Pakistan was blessed with fertile land and, above all, a courageous people who were ready to face any challenge, adding that “they can turn sand into gold.”

He expressed confidence that by uniting their efforts and focusing on clear goals, they could achieve significant benefits. He assured full support from the federal government, provincial administrations, institutions, and the Pakistan Army in this endeavor. The prime minister also welcomed companies from Europe, the US, China, Saudi Arabia, the UAE, Turkiye, and other countries to invest in Pakistan’s minerals sector.

He informed the audience that provincial governments were actively working to create a conducive environment for foreign investors. He highlighted that Sindh held the largest coal deposits, which could supply cement plants and other industrial units, helping Pakistan save valuable foreign reserves spent on coal imports. He added that Punjab had discovered iron ore deposits in Chiniot, while Khyber Pakhtunkhwa, Azad Jammu and Kashmir, and Gilgit Baltistan also possessed enormous potential in the minerals sector.

The prime minister said that, in the past, the government had allowed foreign companies to export raw materials from Pakistan. However, under the current policy, the government would no longer permit the export of raw materials.

He emphasized that, as part of their core policy, the government encouraged foreign investors to establish downstream industries to process raw materials into finished products before exporting them, creating a win-win situation for all.

He stated that, from Pakistan’s national perspective, it was his government’s duty to work on this matter. He declared that this policy would now be a fundamental principle of international partnerships. The prime minister also pointed out that exporting raw materials incurred higher freight costs compared to exporting finished goods.

He further observed that investors would bring their technology over time and train Pakistan’s youth. He emphasized that, through joint partnerships, foreign investors would equip the local youth with modern skills, enabling them to become entrepreneurs themselves.

Welcoming mineral companies from KSA, UAE, Qatar, Kuwait, the USA, China, and Britain, the prime minister urged them to establish vocational centers to train Pakistani youth. He emphasized that this was an important area for consideration and added that this comprehensive policy would yield tremendous dividends for all.

He further stated that the vast, arid areas in various parts of the country would soon transform into industrial hubs. He reassured that the federal and provincial governments, along with himself as the country’s chief executive, the dynamic army chief, and international partners, would work together to turn Pakistan into a developed and prosperous nation.

The prime minister expressed his gratitude and appreciation to Minister of Energy Ali Pervaiz Malik, his team, and all relevant departments, as well as the Army Chief and his colleagues, for their valuable support. He also thanked the international partners for arranging and participating in the successful event. He stated that the event was not only successful but also highly productive, gaining the confidence of entrepreneurs present from across Pakistan and around the world.

The prime minister appreciated Mark Bristow, President and CEO of Barrick Gold, for his commitment to the Reko Diq project and expressed his admiration for his acumen and steadfastness. He highlighted that, under Bristow’s leadership, the project, which had been stalled for the past 20 years, had made significant progress, serving as a valuable lesson for others.

The prime minister, the chief of army staff, and the chief ministers witnessed the signing of various MoUs and agreements in the minerals sector.