Islamabad: Federal Planning Minister Ahsan Iqbal has said that Pakistan’s mineral sector cannot undergo meaningful transformation without the involvement of strategic partners, stressing the need for foreign investment, modern technology, and long-term planning to unlock the country’s vast mineral potential.
Addressing a conference on mineral development, the minister said Pakistan possesses significant untapped mineral resources but lacks the technical expertise, financial capacity, and infrastructure required to fully exploit them. He noted that collaboration with experienced international partners was essential to ensure sustainable and efficient development of the sector.
Ahsan Iqbal emphasised that the government was working on policy reforms aimed at making the mineral sector more attractive to investors. These reforms, he said, would focus on transparency, regulatory stability, and value addition, rather than the export of raw materials. He added that Pakistan must move beyond primary extraction and invest in downstream industries to maximise economic benefits.
The planning minister said that developing the mineral sector could play a key role in strengthening the national economy, creating employment opportunities, and increasing export earnings. However, he cautioned that without strategic partnerships and modern mining practices, the sector would continue to underperform despite its potential.
He also highlighted the importance of environmental safeguards and community development, stating that mineral extraction must be carried out responsibly to protect local populations and natural resources. According to the minister, sustainable mining practices would be a core component of future development strategies.
The remarks come as the government seeks to diversify the economy and reduce reliance on traditional sectors. Officials believe that a revitalised mineral sector, supported by credible international partners, could contribute significantly to long-term economic growth.
This story has been reported by PakTribune. All rights reserved.