Minerals & mining sector: US, Pakistan discuss avenues of cooperation

ISLAMABAD: Robert Louis Strayer II, President of the Critical Minerals Forum (USA), accompanied by Natalie Baker, Chargé d’Affaires of the United States, called on Federal Minister for Finance & Revenue Muhammad Aurangzeb at the Ministry of Finance on Friday.

Senior officials from the Ministry of Finance and relevant departments also attended the meeting.

During the meeting, both sides discussed avenues of cooperation in the minerals and mining sector, strengthening supply-chain security, and encouraging responsible and sustainable investment in Pakistan’s critical minerals landscape.

Pakistan, US sign $500mn MoU to boost cooperation in critical minerals

Finance Minister welcomed the delegation and underscored Pakistan’s steady economic trajectory, noting improvements across macroeconomic fundamentals and governance reforms. “Our priority is fundamental fiscal hygiene-building the discipline where capital flows in, remains invested, and is secured through sound policies,” the minister stated. “This foundation is now translating into improved sentiment and positive signals from international rating agencies.”

The Finance Minister highlighted that Pakistan has embarked on deep-rooted structural reforms, including power sector restructuring, tax administration reforms, broadening of the tax base, and a roadmap for fiscal sustainability. He noted that the government is separating tax policy and administration functions by establishing a dedicated Tax Policy Unit within the Ministry of Finance to ensure improved governance and efficiency.

On privatisation and SOE reforms, the Finance Minister shared that 24 state-owned enterprises have been referred to the Privatisation Commission as part of the government’s commitment to improve service delivery and enhance fiscal discipline.

Copyright Business Recorder, 2025