Islamabad: The government of Pakistan is taking steps to establish an enabling ecosystem for mining companies to operate efficiently in challenging terrains with minimal infrastructure, Petroleum Minister Ali Pervaiz Malik said on Thursday.
Speaking at the Pakistan Business Forum (PBF) session on ‘Unlocking Pakistan’s Untapped Mining Resources for National Wealth’, Mr Malik highlighted that one of the main obstacles for investors was that mineral resources are a provincial subject under the Constitution. This has historically forced companies to navigate multiple sets of legislation, rules, and licensing requirements across provinces, complicating investment and operations.
To address these challenges, the government has been working to harmonise the regulatory framework, standardise ESG and safety standards, and encourage provinces to adopt a unified system while retaining ownership of their resources. A consistent fiscal regime is also being developed to account for sector-specific risks, and efforts are underway to create an environment conducive to capital inflows.
Mr Malik said that Reko Diq, currently under construction, would set a benchmark for mining operations in Pakistan. He noted that after years of litigation, the project achieved the largest private-sector financial close in the country’s history, amounting to USD 3.5 billion.
Referring to the estimated $7 trillion mineral potential, the minister cautioned that these figures are based on geologists’ estimates and are not yet proven resource estimates.
Adviser to the Geological Survey of Pakistan, Dr Hamid Ashraf, emphasised the need to benchmark Pakistan’s fiscal regime against leading global mining jurisdictions such as British Columbia, Western Australia, Indonesia, Kazakhstan, Chile, and South Africa. He noted that Pakistan previously operated under six mining policies, eight Acts, and 36 rules and regulations, a system that made investment challenging.
Reko Diq Mining Company (RDMC) Country Manager Zarrar Jamali said the company has completed feasibility studies, environmental and social impact assessments, and baseline studies, and is progressing steadily through the construction phase.
In her remarks, Pakistan Business Council Chairperson Dr Zeelaf Munir stressed that Pakistan’s economic future depends on resilience, reform, and responsible partnerships, and that progress requires collaboration among all stakeholders in the business ecosystem.
The government’s initiatives aim to make Pakistan’s mining sector more attractive for both local and foreign investors, unlock the country’s mineral wealth, and support long-term economic growth.
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