In partnership with
Profit
PAKISTAN MINERALS INVESTMENT FORUM OPENS WITH CALL TO UNLOCK UNTAPPED RESOURCE WEALTH Wednesday, 9 April, 2025 I 10 Shawwal, 1446
g
‘TRILLIONS OF DOLLARS’ MINERAL DEPOSITS CAN ENABLE PAKISTAN SAY GOODBYE TO INSTITUTIONS LIKE IMF: PM SHEHBAZ
P
ISLAMABAD
STAFF REPORT
RIME Minister Shehbaz Sharif on Tuesday said that if Pakistan managed to harvest its “trillions of dollars” mineral reserves, it could say goodbye to global financial institutions like the International Monetary Fund (IMF). “We have to make sure that whatever permissions to potential investors in future … we will not allow raw materials to be shipped out of Pakistan”, PM Shehbaz Sharif declared while addressing the Pakistan Minerals Investment Forum 2025 (PMIF25). The Pakistan Minerals Investment Forum 2025 opened on Tuesday at the Jinnah Convention Center in Islamabad, marking a major effort by the government to attract foreign direct investment (FDI) into the country’s mineral and mining sector. The two-day forum was inaugurated by Deputy Prime Minister Ishaq Dar, who in his opening address said Pakistan is strategically positioned to emerge as a global mining powerhouse, backed by its “unparalleled geological wealth.” The country plans to unveil a unified
g
Rs 20.00 | Vol XV No 272 I 8 Pages I Lahore Edition
GOVT PRIORITIZED STRATEGIC DEVELOPMENT OF MINING SECTOR THROUGH POLICY REFORMS, INVESTOR-CENTRIC INITIATIVES: DAR
framework to promote mining and mineral investment opportunities across four provinces, Azad Kashmir and GilgitBaltistan at the high-level event which will be attended by around 300 foreign delegates. The PMIF25 will serve as a premier platform for global stakeholders to explore
investment opportunities in Pakistan’s emerging minerals sector and unlock the country’s vast mineral potential. He added, “From today onwards, there has to be an integrated policy where you [investors] mine raw material, have downstream industry, convert them into finished
PROFIT
ensure a robust security framework, (and) proactive measures to protect the interests and trust of partners and investors. You can count on Pakistan as a reliable partner.” The conference takes place amid rising unrest in the mineral-rich southwestern province of Balochistan, where insurgent activities have intensified. This includes a recent incident where insurgents hijacked a train carrying over 400 passengers, including soldiers, in the volatile region. Balochistan, which borders Iran and Afghanistan, hosts the majority of Pakistan’s mineral reserves, including the Reko Diq project, one of the world’s largest undeveloped copper and gold deposits.
Pakistan’s army to safeguard $6tr resources for investors: COAS STAFF REPORT
Pakistan’s army chief, General Asim Munir, assured investors and partners of robust security measures to safeguard their interests during a minerals conference on Tuesday. The conference, hosted by Pakistan, aims to attract global investment in the country’s vast natural reserves, estimated to be worth $6 trillion. Delegates from the United States, China, Saudi Arabia, and companies including Barrick Gold and Woods Mackenzie are attending the two-day event. General Munir emphasized the country’s commitment to protecting foreign investments, stating, “Pakistan’s army will
CONTINUED ON PAGE 03
goods and then export it out.” “Such agreements will entail that investors will bring technology and transfer it to Pakistan over a period of time,” he said. He continued, “This will be the cardinal principle of our partnership. In the future,
you [investors] are most welcome to these mines all over Pakistan but there has to be a partnership which brings benefits to both partners.” Speaking about the country’s natural resources, he said, “This is not a secret. In the public domain, these deposits are valued trillions of dollars.
ISLAMABAD
successful organization of this forum. Eric Meyer hoped that this forum will further strengthen the relationship between the United States and Pakistan. Eric Meyer expressed hope that this forum will provide equal opportunities for investors. He further said President Donald Trump has also highlighted the importance of minerals and mineral resources several times. “I commend Pakistan for convening the Minerals Investment Forum here in Islamabad and for taking steps to ensure a level playing field for investors. Critical minerals are the raw materials for our most important technologies, and President Trump has underscored the importance of securing America’s minerals future”, Meyar stated in his message.
US lauds Pakistan for successfully hosting Minerals Investment Forum 2025 STAFF REPORT
Eric Meyer, the top official for South Central Asia Affairs at the US Department of State, on Tuesday lauded Pakistan for successfully hosting Pakistan Minerals Investment Forum 2025 in Islamabad. The inaugural session of the two-day Pakistan Minerals Investment Forum 2025 was held on Tuesday. The foreign economic experts and delegates participated in the opening ceremony. In message, the senior US State Department official, Eric Meyer, who attended the opening ceremony, said; “I am enjoying the hospitality of Pakistan.” He commended Pakistani authorities for the
Sanaullah urges Imran Khan Gandapur rebuts ‘propaganda’ over to engage in political talks proposed amends to
so far resisted any attempts to meet with the opposition. “Ultimately, everything will be resolved at the negotiation table,” he continued.
Sanaullah, who currently advises the prime minister, further noted that the establishment would not oppose such political talks, indicating that the opportunity for reconciliation remains open. “If PTI agrees to sit at the table, the establishment will not object,” he said. In a further development, Sanaullah revealed that several Pakistanis returning from abroad have recently been noted, suggesting they might have met with the PTI leader while he remains incarcerated. “It’s possible they were made to meet with the PTI founder in jail,” he added.
ers and workers. Speaking informally to the media outside jail after appearance at the Anti-Terrorism Court (ATC), Qureshi made an emotional appeal, calling for harmony within party ranks. “I appeal to the leadership of our party who are outside those in jail are looking at you,” he said. “My sincere request is to maintain harmony, behave respectfully, and stop criticizing each other. The hearts of the leadership and workers in jail are burning. My job is not to start a fire, but to extinguish it.” Identifying himself as “prisoner number 805” a number he said was given to him by PTI founder Imran Khan. Qureshi emphasized that he had no involvement in the events that led to his arrest. “I was not present in any conspiracy, sabotage, or incident. The allegations against me are baseless,” he said. “I have been granted bail in 14 cases in
Rawalpindi, five in Multan, and eight out of 14 in Lahore. Only six cases are pending now.” Bail granted in three cases Meanwhile, a Multan court granted bail to Qureshi in three cases related to the May 9 arson and vandalism incidents. The cases, registered at the Cantt Police Station, were heard by Additional District and Sessions Judge Saira Noreen. Qureshi attended the court hearing via WhatsApp video call from jail, while his counsel Advocate Zameer Hussain Sandhal presented arguments on his behalf. Following the hearing, the court approved bail in all three cases and directed Qureshi to submit surety bonds worth Rs100,000 each. The development marks another legal victory for the embattled PTI leader, as he continues to face multiple charges stemming from the post-May 9 unrest across various cities.
ISLAMABAD
STAFF REPORT
PTI seeks more time from ECP for argument in intra-party poll case ISLAMABAD
STAFF REPORT
Pakistan Tehreek-e-Insaf (PTI) chairman Barrister Gohar on Tuesday sought more time for arguments from the Election commission of Pakistan (ECP) in the intra-party election case. A five-member bench, headed by Chief Election Commissioner (CEC) Sikandar Sultan Raja, resumed hearing of the long-standing case. Both Barrister Gohar and petitioner Akbar S Babar appeared before the bench. When asked by the CEC why arguments were not being presented as scheduled, Barrister Gohar responded that he had submitted details of the Lahore High Court’s (LHC) directives and requested more time to prepare his arguments, citing the absence of key documents. CEC Raja reminded him that while the High Court had restricted the ECP from issuing a verdict, it had not barred the proceedings itself. He warned Barrister Gohar to come fully prepared for the next hearing. Later, the ECP adjourned the hearing until April 22, 2025. Notably, the intra-party election case has been pending since March 2024 and has seen eight hearings so far. Speaking to the media after the hearing, Barrister Gohar said the intra-party election matter was also being heard in the LHC. He confirmed that the ECP had asked for court case details, which were submitted. He reiterated PTI’s commitment to see the matter resolved and mentioned that audio and video evidence had been provided to the Election Commission. Barrister Gohar also highlighted that PTI had submitted a request to regain access to party data, which was taken by the FIA. Separately, the ECP also heard the intra-party election case of Balochistan National Party (Mengal), but no representative from the party appeared. The hearing was adjourned to April 29.
Pakistan Muslim League-Nawaz (PML-N) leader Rana Sanaullah emphasized that political negotiations are the only way to resolve the country’s ongoing crisis, expressing disappointment over Imran Khan’s refusal to engage with opposition parties. Sanaullah highlighted that the situation could only improve through dialogue. “The solution can only come through political discussions,” he stated, adding that the founder of Pakistan Tehreek-e-Insaf (PTI) has
Qureshi urges unity in party, meaningful action for release of jailed workers LAHORE
STAFF REPORT
Pakistan Tehreek-e-Insaf (PTI) Vice Chairman Shah Mehmood Qureshi on Tuesday urged the party leadership to demonstrate unity and take meaningful action for the release of incarcerated lead-
Mines and Minerals Act PESHAWAR
AZIZ BUNERI
Chief Minister Khyber Pakhtunkhwa, Ali Amin Khan Gandapur, on Tuesday strongly rebutted the “rumors and misconceptions” regarding the proposed amendments to the Mines and Minerals Act, terming them as baseless propaganda. In a video statement, the Chief Minister clarified that no provincial authority/power is being handed over to any entity through these amendments. “The powers of the province cannot and will not be surrendered,” he asserted, adding that such claims are false, fabricated, and appear to be motivated by personal vendettas. CM Gandapur stated that his government is introducing reforms in the minerals sector, and unfortunately, vested interest are attempting to misrepresent these reforms for their own benefit. The KP CM highlighted that through improved policies and reforms, his administration has significantly increased provincial revenues from the minerals sector. “For the first time in 76 years, we successfully auctioned four placer gold mining sites through a transparent process, generating Rs5 billion for the province,” he said. “Previous governments failed to curb the illegal mining that persisted at these sites for decades.” He said that the revenue earned from these four sites alone surpassed the total annual earnings of the Minerals Department in past years. CM Gandapur emphasized that his government is committed to boosting the province’s financial self-sufficiency through continued reforms and tougher regulations against illegal mining activities. Under the proposed legal framework, equipment used in illegal mining operations will be confiscated by the government. Additionally, the Chief Minister stated that special attention was being focused on value addition of the province’s valuable minerals, adding that exporting raw minerals neither benefits industry or creates jobs, nor does it increase revenue. To encourage local investment and value addition, the provincial government plans to extend lease periods for investors who set up value addition facilities within the province. Conversely, leaseholders who delay the start of mining operations after acquiring leases will face shortened deadlines, discouraging speculative holding of mineral rights that results in provincial losses.