PM pitches mineral wealth to fuel economic boom

• Eyes sixth-largest economy before 2050 • Seeks partnerships beyond raw extraction • CDF Munir vows full mining se

ISLAMABAD:

Prime Minister Shehbaz Sharif on Friday called for Pakistan's mineral resources to be developed alongside environmental protection, stressing that mining projects must follow international standards and use modern technology to safeguard water resources and workers' health and safety.

Addressing the Pakistan Minerals Investment Forum 2026 in Islamabad, he said responsible mining and environmental conservation must go hand in hand, adding that the government would ensure mineral development did not come at the expense of the environment.

The prime minister said investors were expected to adopt environmentally responsible practices and use state-of-the-art technology to minimise the impact of mining activities.

He also stressed that mineral investments should deliver tangible benefits to communities near mining sites through employment, local businesses, schools, healthcare facilities and clean drinking water.

The government would work with provincial administrations and investors to ensure local populations became the primary beneficiaries of mineral development.

Shehbaz urged foreign investors to mine, process and manufacture minerals in Pakistan rather than export them in raw form, saying the country needed to develop its entire mineral value chain to generate greater economic opportunities.

He said Pakistan wanted to establish downstream industries, including refineries, smelters and cable and conductor factories, to ensure its mineral wealth generated greater economic value.

"My humble and sound advice to you would be: mine in Pakistan, process in Pakistan, manufacture in Pakistan and then export to the rest of the world," he said, describing the approach as the government's philosophy and mission.

Recalling his address at the previous edition of the forum, the prime minister said he had committed to ending the practice of exporting the country's precious minerals in raw form.

"I am happy to renew my commitment. Insha'Allah, the day is not far away when this will come to a grinding halt, and these treasured minerals will be fully utilised by Pakistan's downstream industry," he said.

Welcoming international delegates, Shehbaz said Pakistan wanted investment partnerships extending beyond extraction to processing and manufacturing.

He described such arrangements as the foundation of fair and equitable partnerships that would create value for Pakistan while offering significant opportunities to investors.

"I have always maintained that my investor is my master, and rightfully so," he said, adding that investors expected a level playing field, transparent rules, swift decision-making, consistency in policies and strong institutions.

Outlining the government's efforts to meet these expectations, he said it was simplifying procedures, eliminating red tape, reducing unnecessary delays and ensuring transparency in the award of licences and contracts.

He added that the National Mineral Data Cell and digitisation of geological records would enable investors to assess underground mineral resources before committing their funds.

The prime minister assured investors that federal and provincial governments would work together to facilitate their projects, saying the presence of chief ministers and federal representatives at the forum reflected a unified approach.

"We will work for your interest as one team and, Insha'Allah, provide you with all necessary support and assistance to promote your business in Pakistan," he said.

Shehbaz said protecting investors' personnel, assets and supply routes was the government's fundamental responsibility. "Your safety is our safety, and your protection is our protection. We are sailing in the same boat," he said.

He also offered to personally intervene if bureaucratic delays or cumbersome procedures held up investment projects. "If any file gets stuck due to bureaucratic delays or cumbersome procedures, bring it straight to me. I will personally ensure that it moves with lightning speed. This is my personal guarantee to all of you," he said.

Highlighting Pakistan's young population as another national asset, Shehbaz urged investors to establish skills training centres and vocational institutes, facilitate technology transfers and promote local suppliers.

"Our real wealth is not only in our mountains; it is also in our young people," he said, describing the country's youth as educated, resilient and capable of turning natural resources into national progress and prosperity.

The prime minister also stressed the importance of cooperation with local communities and reliable infrastructure, including electricity, water, roads, railways and communications, to ensure the success of mineral investments.

The prime minister highlighted the Reko Diq project on the Tethyan Copper Belt, describing it as one of the world's largest untapped copper and gold deposits.

He said production was expected to begin in 2028, adding that a project which had remained stalled for two decades was now moving towards operational execution.

Shehbaz thanked Barrick for maintaining its confidence in Pakistan and acknowledged its chairman, John Thornton, for sharing Goldman Sachs' assessment that Pakistan could become the world's sixth-largest economy by 2075.

Expressing confidence that the target could be achieved earlier, he said, "Instead of 2075, Insha'Allah, it will be earlier than 2050."

Acknowledging the challenges ahead, he stressed the importance of perseverance. "At the most critical point, you must rest a bit but never quit. That is our philosophy, and that will make Pakistan a great country among nations," he said.

CDF

Chief of Defence Forces and Chief of Army Staff Field Marshal Asim Munir pledged to ensure security across Pakistan's mining sector as part of efforts to attract long-term mineral investment and make the country a competitive destination for international investors.

The field marshal said every possible measure was being taken to ensure the security of the entire mining sector. He assured that mines, miners, investments, industries, projects and people associated with the sector would be provided protection.

CDF Munir said Pakistan aimed to become a competitive destination for long-term mineral investment, stressing the importance of creating a secure environment for mining activities and related industries.

He said unlocking Pakistan's mineral wealth was a collective national objective and emphasised that the country needed to move beyond exporting raw materials.

The army chief said the objective was to develop the entire mineral value chain, including refining and manufacturing, to generate greater economic benefits. He added that Pakistan wanted to establish long-term partnerships that would create sustainable economic value for the country and its international partners.

Field Marshal Munir also stressed that mineral development must benefit local communities, particularly those living in mineral-rich areas. He said people in these regions should see tangible improvements in their lives as a result of mining activities.

Highlighting the country's human potential, the field marshal said Pakistanis were hardworking, courageous and determined, with the ability to turn their aspirations into reality. He said the country's natural resources provided opportunities, while its people possessed the strength and determination required to achieve results.

The army chief called for a shift from potential to production, promises to implementation, and raw material exports to value-added economic growth. He concluded his address with the slogan, "Pakistan Hamesha Zindabad."