Pakistan is opening its doors to international competition in the mining sector by offering multibillion-dollar contracts to global companies, including the United States, China, and Russia. The government has implemented an “open-handed policy” to provide equal opportunities to these countries to participate in Pakistan’s growing mining industry.
According to a news report, Petroleum Minister Ali Pervaiz Malik emphasised that Pakistan is engaging with all three countries, despite their historical geopolitical rivalries. Recently, the Ministry of Petroleum held a webinar with US officials and companies to explore potential joint ventures in mining.
Minister Malik highlighted the ongoing Rekodiq gold and mining project, which is expected to attract investment from a variety of countries, including the US, China, and Russia. He noted that Rekodiq could serve as a model for future mining ventures in Pakistan, driving investment and economic growth.
Malik clarified that no country would face discrimination when bidding for mining projects, and he mentioned that he had also invited Russian companies to participate. He stressed that the government is committed to creating a level playing field for all international investors.
The petroleum minister also addressed concerns about the second LNG contract signed by the previous government with Qatar, which has led to challenges in the country’s gas sector. He attributed the ongoing gas curtailment and circular debt problems to this deal, suggesting that revising the contract when it expires in 2026 could offer a way forward.
The government is also seeking to stabilize the energy sector by focusing on balancing LNG supply and demand, with the power sector bearing the brunt of the country’s gas shortfall.
Additionally, Minister Malik stressed the need for a unified energy ministry and emphasized the importance of maintaining a stable regulatory environment to attract investment into Pakistan’s energy and mining sectors.
