- 2,000 people are likely to attend the event
- Number of agreements, MoUs also expected.
- PMIF25 to become annual event: OGDCL MD
ISLAMABAD: In an effort to exhibit the nation’s enormous mineral potential, Federal Minister for Petroleum and Natural Resources Ali Pervaiz Malik has announced that the two-day Pakistan Mineral Investment Forum 25 (PMIF25) will begin today (Tuesday).
During the event from April 8 to 9, the government would present Pakistan’s mineral-rich terrain, which covers around 600,000 square kilometres, The News reported.
While flanked by Oil & Gas Development Company Limited (OGDCL) Managing Director Ahmed Hayat Lak, the federal minister said that a unified mining regulatory framework would be introduced, providing incentives for value addition to draw in both domestic and foreign investors.
An estimated 2,000 people are likely to attend the event, including 300 representatives from overseas. Representatives of Azerbaijan, Saudi Arabia, China, the US State Department, US Exim Bank, the Asian Development Bank (ADB), and CEOs of mining companies from Denmark, Kenya, Finland, and the UK are among the participants. It is expected that a number of agreements and memorandums of understanding (MoUs) would be inked at the forum.
The minister stressed the importance of responsible mining, ensuring environmental protection and the health and safety of local communities and workers. He noted that the mineral sector is a provincial subject, leading to investor confusion due to varying policies. Currently, there are six provincial mineral policies, eight Acts, and 36 different rules governing the sector.
The OGDCL MD stated that PMIF25 would become an annual event, with plans to enhance its scope each year.
A key highlight of the forum would be the official launch of the National Minerals Harmonisation Framework 2025 by the federal government, aimed at attracting investment in the mineral sector.
Prime Minister Shehbaz Sharif would deliver the policy speech on the opening day, while Chief of Army Staff General Asim Munir would also address the forum. Key speakers include Finance Minister Muhammad Aurangzeb, Deputy Prime Minister Ishaq Dar, Minister for Energy Ali Pervaiz Malik, and Commerce Minister Jam Kamal Khan.
The United States would be represented by Eric Meyer, Senior Bureau Official for the Bureau of South and Central Asian Affairs, to advance US interests in the mineral sector. Foreign investors and experts are arriving in Islamabad to attend the event, including ADB Deputy Director General Catherine Marsh and a delegation from China’s Xi’an Geological Survey Centre.
Despite its vast potential, the mineral sector currently contributes only 3.2% to Pakistan’s GDP, with exports accounting for a mere 0.1% of the global total. However, with increased exploration, foreign investment and infrastructural development, the industry is poised for significant growth.
