Planning Minister Ahsan Iqbal has highlighted the enormous economic potential of Pakistan’s mineral resources, claiming the country could be sitting on mineral wealth worth more than $7 trillion.
Speaking at the Asia Society Policy Institute, Iqbal pointed to the country’s largely untapped natural resources as an opportunity for future economic growth.
However, turning underground resources into economic value requires major investment, advanced technology and long term planning.
Developing large mineral deposits is not an overnight process. Mining projects require billions of dollars in investment, specialised technology, infrastructure and years of development before they can reach full production.
According to Iqbal, political uncertainty has made international mining companies hesitant to commit significant resources to Pakistan.
He said greater economic and political stability could change that situation by creating an environment where global investors feel more confident about long term projects.
Pakistan could potentially benefit from greater involvement by international companies with expertise in mining, technology, financing and resource development.
Iqbal highlighted the possibility of attracting investors, including US companies, through strategic partnerships and financing opportunities.
If developed responsibly, the mining sector could contribute to economic activity, investment and employment while helping Pakistan make better use of its natural resources.
The challenge, however, is building the infrastructure and policy environment needed to support major projects.
During his remarks, Iqbal also drew attention to another major challenge facing Pakistan: water security.
He referred to concerns following India’s suspension of the Indus Waters Treaty and highlighted the need to strengthen Pakistan’s ability to manage and store water.
The country is working on major reservoirs including the Diamer Bhasha Dam and Mohmand Dam, which are intended to improve water storage and strengthen long term water security.
Planning Minister Ahsan Iqbal has highlighted the enormous economic potential of Pakistan’s mineral resources, claiming the country could be sitting on mineral wealth worth more than $7 trillion.
Planning Minister Ahsan Iqbal has highlighted the enormous economic potential of Pakistan’s mineral resources, claiming the country could be sitting on mineral wealth worth more than $7 trillion.
Speaking at the Asia Society Policy Institute, Iqbal pointed to the country’s largely untapped natural resources as an opportunity for future economic growth.
However, turning underground resources into economic value requires major investment, advanced technology and long term planning.
Developing large mineral deposits is not an overnight process. Mining projects require billions of dollars in investment, specialised technology, infrastructure and years of development before they can reach full production.
According to Iqbal, political uncertainty has made international mining companies hesitant to commit significant resources to Pakistan.
He said greater economic and political stability could change that situation by creating an environment where global investors feel more confident about long term projects.
Pakistan could potentially benefit from greater involvement by international companies with expertise in mining, technology, financing and resource development.
Iqbal highlighted the possibility of attracting investors, including US companies, through strategic partnerships and financing opportunities.
If developed responsibly, the mining sector could contribute to economic activity, investment and employment while helping Pakistan make better use of its natural resources.
The challenge, however, is building the infrastructure and policy environment needed to support major projects.
During his remarks, Iqbal also drew attention to another major challenge facing Pakistan: water security.
He referred to concerns following India’s suspension of the Indus Waters Treaty and highlighted the need to strengthen Pakistan’s ability to manage and store water.
The country is working on major reservoirs including the Diamer Bhasha Dam and Mohmand Dam, which are intended to improve water storage and strengthen long term water security.
