ISLAMABAD: Ahead of the Pakistan Minerals Investment Forum 2025 (PMIF25), Minister for Petroleum Ali Pervaiz Malik and Oil and Gas Development Company Limited (OGDCL) Managing Director (MD) Ahmed Hayat Lak on Monday outlined key initiatives and reforms aimed at unlocking Pakistan’s vast mineral potential.
On Monday, while addressing a press conference, their remarks focused on the government’s efforts to streamline the sector, attract global investment, and enhance cooperation with international stakeholders.
The two-day Pakistan Minerals Investment Forum 2025 (PMIF25) is set to begin today (Tuesday) in Islamabad and will conclude on April 9, 2025.
Addressing the press conference, Minister Malik focused on the challenges and opportunities facing Pakistan’s mining sector, revealing that while mining currently contributes less than 8% to the country’s GDP, the potential for growth is enormous.
“The sector’s contribution to Pakistan’s GDP is currently underrepresented, but the untapped potential is vast,” said Malik.
He further emphasized that efforts are underway to corporatize the mining sector, which he believes will help unlock the full potential of the industry.
The Minister also addressed the complexities faced by international investors in navigating Pakistan’s mining policies, which currently include six separate policies, eight acts, and 36 versions of rules.
“Minerals are a provincial matter, and international stakeholders often struggle to identify the right contact point due to the fragmented policy structure,” Malik explained.
He reassured that efforts are being made to implement a unified framework for the sector, which is already at various stages of approval. Some provinces have approved the framework at the cabinet level, and others have passed related legislation.
The new framework, which draws inspiration from global best practices such as those in Indonesia and Australia, is designed to streamline policies and create a more cohesive approach to mining in Pakistan.
The finalized framework, which was drafted with the support of the global law firm White & Case and reviewed by Wood Mackenzie for uniform fiscal incentives, will be officially unveiled at the forum.
This marks a significant step toward ensuring that Pakistan’s mining sector is competitive on the global stage and offers consistent incentives to investors across all provinces.
Malik also highlighted Pakistan’s ongoing efforts to encourage exploration in the sector. “We are auctioning nearby blocks and revitalizing the Geological Survey of Pakistan to promote further exploration,” he said.
These efforts, combined with international partnerships for offshore and onshore exploration, are aimed at enhancing Pakistan’s appeal as a mining investment destination.
OGDCL MD Ahmed Hayat Lak also shared insights into the state of the sector, particularly regarding Pakistan’s involvement in key mining projects. He mentioned that OGDCL, alongside other national companies such as PPL and GHPL, is fully committed to the Reko Diq project, a cornerstone of Pakistan’s mining future.
“This project highlights Pakistan’s mineral potential and underscores our commitment to making the Pakistan Minerals Investment Forum an annual event,” Lak stated.
It is pertinent to mention that the two-day forum will foster deeper engagement with international investors and set the stage for future mining collaborations.
