Trillions of dollar mineral wealth can free Pakistan from IMF dependence: PM Shehbaz

Prime Minister Shehbaz Sharif said on Tuesday that if Pakistan managed to harvest its “trillions of dollars” worth mineral reserves, it could allow the country to say farewell to global financial institutions like the International Monetary Fund (IMF).

Addressing the opening of the two-day Pakistan Minerals Investment Forum at Jinnah Convention Center in Islamabad today, the PM invited the local and foreign investors to invest in the infinite natural resources of Pakistan.

Highlighting the potential of mineral resources in different areas of the country, the premier stated that Pakistan will not allow raw material to be shipped out of the country.

The PM emphasized the importance of export of finished and semi-finished products, saying it will be a win win situation.

“Any agreement should also entail that technology will be transferred to Pakistan over a period of time,” he said.

Pakistan’s resource corridor poised to reshape global supply chain

Meanwhile, Deputy Prime Minister Ishaq Dar said on Tuesday that with vast resources of rare earth elements, industrial minerals, non-metallics and gem stones, Pakistan’s resource corridor is poised to reshape global supply chains and attract foreign direct investment.

Addressing the opening of forum, the minister said Pakistan is strategically positioned to emerge as a global mining powerhouse, underpinned by its unparalleled geological wealth.

“Pakistan is home to monumental reserves like Reko Diq,” the deputy PM said, adding that the country also hosts vast resources of rare earth elements, industrial minerals, non-metallics and gem stones including globally sought after peridote and emerald.

“With this vast untapped mineral potential, Pakistan’s resource corridor is poised to reshape global supply chains and attract foreign direct investment,” the minister said.

He added that the government has prioritized the strategic development of the mining sector through progressive policy reforms and investor centric initiatives, laying the foundation for a robust eco-system that delivers value for all stakeholders, as per Radio Pakistan.

On Monday, Minister for Petroleum Ali Pervaiz Malik announced that the forum is aimed at highlighting the investment potential in Pakistan’s mineral resource and around 300 participates from different countries including Turkiye, China, Azerbaijan, Saudi Arabia, the US, Denmark, Finland, Kenya and the UK is expected at the forum.

Pervaiz said that MoUs and agreements including skill development in the mining sector will also be signed during the investment forum.

The forum will feature important sessions on investment opportunities in major mineral projects, including the Reko Diq mine, and discussions on the government’s policies aimed at boosting the mineral sector.