ISLAMABAD : The Pakistan government is set to hold its inaugural minerals summit in the country on August 1, aiming to explore and unlock the significant potential of the minerals industry, as reported by state TV on Sunday.
Pakistan, a South Asian country, boasts vast reserves of both metallic and non-metallic minerals, including gold, copper, iron, chromite, barites, gypsum, and rock salt. Alongside the flourishing oil and gas exploration sector, Pakistan has witnessed remarkable growth in the precious gemstone and marble industries in recent years. The country’s geostrategic location offers substantial opportunities for related industries in the global market.
The “first-ever” Pakistan Minerals Summit is expected to attract stakeholders from various sectors to delve into the immense potential of the minerals industry. The event aims to explore avenues for further growth and investment in the sector, propelling economic development in the country.
This move comes in the backdrop of Pakistan’s establishment of the Special Investment Facilitation Council (SIFC) to address the nation’s economic challenges and attract international attention to business opportunities in agriculture, mining, information technology, and defense production in Pakistan. The council has already approved nearly two dozen projects worth billions of dollars, including the construction of the Diamer-Bhasha dam and mining operations at Reko Diq in Balochistan’s Chagai district.
In another strategic effort to boost foreign and domestic investments, the government recently approved the Pakistan Investment Policy (PIP) 2023. The policy, developed in consultation with the World Bank and the International Finance Corporation, aims to attract up to $25 billion in investment over the next few years, according to officials.
The combination of initiatives demonstrates Pakistan’s commitment to fostering economic growth, attracting investments, and leveraging its abundant mineral resources to bolster various industries in the country.
