Latest news with #PMIF25
Express Tribune
25-06-2025
- Business
- Express Tribune
Pakistan offers US mining ventures
Pakistan has invited US companies to explore the potential of public-private partnerships and joint ventures in the mining sector, which is enriched with vast mineral resources. "With one of the world's largest undeveloped copper and gold deposits at Reko Diq and a strong commitment to economic reforms, this is the right time for US investors to explore and engage," US Charge d'Affaires Natalie Baker stated while addressing a webinar. The government of Pakistan, in collaboration with the US embassy, hosted a high-level webinar titled "Opportunities in Pakistan's Mining Sector – Unlocking Mineral Potential," aimed at promoting investment opportunities and inviting American companies to pump capital into the mineral and mining sector. The virtual event was hosted together by Federal Minister for Energy (Petroleum Division) Ali Pervaiz Malik and US Charge d'Affaires Natalie Baker at the Oil and Gas Development Company Limited (OGDCL) head office in Islamabad. The webinar brought together senior officials from Pakistan's Ministry of Energy, leading Pakistani mineral and energy companies, representatives of the Special Investment Facilitation Council (SIFC) and top US diplomats and energy sector stakeholders. Petroleum Secretary Momin Agha, OGDCL Managing Director Ahmed Hayat Lak, MDs of Government Holdings Private Limited, Mari Energies, Pakistan Mineral Development Corporation (PMDC), DG mines and senior representatives from Ark Metals, BMEC, BMRL and Pakistan Petroleum, along with the US embassy's economic counsellor and energy officer, participated in the event. Various American business representatives took part in the conference virtually. In his remarks, Energy Minister Ali Pervaiz Malik highlighted the vast potential of Pakistan's mining sector. "Pakistan is richly endowed with mineral resources, including gold, copper, coal, rare earth elements and other critical minerals essential for renewable energy transition," he said. The minister noted the international significance of Reko Diq copper and gold project and pointed to recent discoveries in Balochistan's Chaghi district and Khyber-Pakhtunkhwa's Waziristan region. He emphasised Pakistan's role in global transition towards clean energy, citing the country's abundant reserves of critical minerals as a foundation for its green transition. "Renewable energy development is central to our climate goals and economic future. We are facilitating this shift by supporting the mining of essential minerals and improving ease of doing business," he stated. The energy minister acknowledged the success of the Pakistan Minerals Investment Forum 2025 (PMIF25), held earlier this year, which attracted over 5,000 participants and brought global attention to the country's mineral wealth. "PMIF25 marked a turning point, showcasing Pakistan as a serious player in the global minerals economy," he said and invited US companies to explore the potential of public-private partnerships and joint ventures. Ali Pervaiz Malik stressed that Prime Minister Shehbaz Sharif and army chief Asim Munir were personally leading the development of the mining sector. He underscored that the government of Pakistan and the SIFC were fully committed to providing all kinds of facilitation to international companies to build partnerships aimed at unlocking the vast mineral reserves. The US charge d'affaires reaffirmed the longstanding economic partnership between the United States and Pakistan. "Pakistan offers immense opportunities in the mineral sector," the envoy said. Baker commended Pakistan's recent policy efforts to unlock the mining sector's potential and underlined the US embassy's commitment to supporting American businesses looking to invest in Pakistan. "We are here to facilitate connections and create win-win partnerships. US investors have long contributed to Pakistan's development and we see great promise in this sector," she added. Participants were briefed on ongoing regulatory reforms, including the development of the National Minerals Harmonisation Framework aimed at streamlining investment procedures and aligning federal and provincial regulations. The digitalisation of geological data and upgrading of the Geological Survey of Pakistan were also underway to improve transparency and data access for investors. The Pakistani side also hosted a Q&A session with American investors to clear ambiguities or address queries. In her closing remarks, Baker reiterated the US government's commitment to supporting Pakistan's economic development and deepening bilateral economic ties. "We believe in Pakistan's potential and we see a shared opportunity in its journey towards inclusive, sustainable growth," she concluded.
Business Recorder
23-04-2025
- Politics
- Business Recorder
Congressman reaffirms call for IK release
ISLAMABAD: US Representative Jack Bergman on Wednesday called for the immediate release of jailed ex-prime minister Imran Khan, following a recent diplomatic trip to Islamabad as part of a congressional delegation. Bergman, a Republican, made the statement shortly after reaching the United States after attending the Pakistan Mineral Investment Forum 25 (PMIF25) alongside Democratic Representatives Thomas Suozzi and Jonathan Jackson. During the visit, the delegation held meetings with Prime Minister Shehbaz Sharif and Chief of Army Staff (COAS) Gen Syed Asim Munir Shah, focusing on investment, regional stability and defence cooperation. While the group did not publicly address political issues during the stay in Pakistan, Bergman issued a statement on social media following his return to the US, urging Khan's release. 'After my Pakistan visit, engaging with leaders and communities there and in the US, I reaffirm my call for Imran Khan's release,' he posted on X. He added that US-Pakistan relations should be grounded in 'democratic values and human rights.' Copyright Business Recorder, 2025
Express Tribune
23-04-2025
- Politics
- Express Tribune
US Congressman renews call for Imran Khan's release after Pakistan visit
US Congressman Jack Bergman can be seen in this image shared on January 8, 2025. — Facebook/Rep. Jack Bergman Listen to article US Congressman Jack Bergman has reaffirmed his call for the release of former Pakistani Prime Minister Imran Khan, stating that democratic values and human rights are essential to a strong US-Pakistan partnership. Bergman, who recently led a bipartisan congressional delegation to Pakistan, made the comments in a statement posted on social media platform X. He described his engagements with leaders and communities in both countries as constructive and urged collaboration for 'freedom and stability.' 'A strong US-Pakistan partnership thrives on shared values — democracy, human rights, & economic prosperity,' Bergman wrote. The Michigan Republican visited Islamabad to attend the Pakistan Mineral Investment Forum 25 (PMIF25) alongside fellow Congressmen Thomas Souzzi and Jonathan Jackson. The lawmakers held meetings with Chief of Army Staff General Asim Munir, Interior Minister Mohsin Naqvi, and other senior officials. According to Pakistan's military media wing, the Inter Services Public Relations (ISPR), talks with the army chief focused on regional security, defence ties, and counterterrorism efforts. Both sides emphasised the need for sustained engagement and signed memoranda to expand cooperation in digital training and IT. In his meeting with the US delegation, Minister Naqvi reiterated Pakistan's frontline role in the global fight against terrorism, calling for increased international recognition and intelligence-sharing. Bergman's remarks add to growing congressional pressure in Washington for Khan's release. In February, Congressmen Joe Wilson and August Pfluger urged Secretary of State Marco Rubio to push for the release of the Pakistan Tehreek-e-Insaf (PTI) founder. They characterised Khan's case as politically motivated and compared it to that of former President Donald Trump's January 6 2021 insurrection. More than 60 members of Congress have previously raised concerns about political repression in Pakistan, including electoral misconduct and the detention of opposition figures. Bergman's comments reflect bipartisan concern in Washington over democratic backsliding in a key US ally, as Islamabad continues to face scrutiny over its treatment of political dissent.
Express Tribune
20-04-2025
- Business
- Express Tribune
Minerals: a strategic tug of war
Listen to article Pakistan's mineral sector has become a growing focal point for the United States, especially following the recent global event, the Pakistan Minerals Investment Forum (PMIF25), held in Islamabad. The forum, attended by key stakeholders from both the public and private sectors, highlighted the vast opportunities presented by Pakistan's untapped mineral resources. With significant reserves of copper, gold, rare earth minerals, and more, Pakistan is positioning itself as a promising investment destination for global players – particularly the United States. The forum underscored the increasing interest in Pakistan's mineral sector, driven by the global demand for critical resources used in high-tech industries. Notably, rare earth minerals are in high demand for electronics, renewable energy technologies, and electric vehicles. The US has recognised Pakistan's potential as a key supplier of these minerals, which are vital to its industrial ecosystem. As the global race to secure stable supply chains intensifies, Pakistan's vast reserves offer a unique opportunity for the US to diversify its mineral sources and reduce dependency on other countries, especially China. Beyond rare minerals, Pakistan's deposits of copper and gold are equally valuable. These resources are essential for industries ranging from construction to electronics and are expected to remain in high demand. The US's growing interest in these minerals is rooted in its need to secure access to materials critical for long-term industrial resilience. With rising global consumption, US companies are keen to invest in Pakistan's mining industry, which offers long-term economic potential. At the forum, it became clear that US engagement in Pakistan's mining sector is not limited to resource extraction. There is a strong emphasis on technology transfer and capacity building. American companies bring with them advanced mining technologies and sustainable practices that could modernise Pakistan's mining operations. By introducing efficient and environmentally friendly methods, the US can help Pakistan enhance its mineral output while reducing the environmental footprint. Sustainability was a key theme at the forum, especially as concerns about climate change and environmental degradation grow. With their expertise in clean technologies, US firms are in a position to help Pakistan transition to more sustainable mining practices. These could include minimising waste, lowering emissions, and implementing advanced recovery techniques that reduce ecological damage while maximising economic returns. However, while the strategic and economic advantages of US involvement are apparent, it is crucial not to overlook the role of traditional local miners. Pakistan's mining industry has long depended on artisanal miners who have been instrumental in resource extraction. Without their inclusion in broader economic opportunities, these miners risk displacement as large-scale, tech-driven operations take over. The government must ensure that any foreign partnership includes provisions for local miner involvement. While some foreign firms may resist such conditions, including local workers can help foster skills development, create jobs, and preserve the social fabric of mining communities. This inclusion is also vital to ensuring broader economic benefits across the country. Training and empowering traditional miners could create thousands of jobs, strengthen local economies, and reduce poverty. Moreover, community engagement is essential to securing buy-in for large-scale mining projects, mitigating the risk of social unrest, and promoting shared prosperity. Additionally, if the US is seeking a sovereign-level agreement for mineral access, it indicates a desire for a direct, exclusive arrangement with the Pakistani government. From Islamabad's perspective, this places the country in a delicate geopolitical position. Saudi Arabia, for instance, has already shown serious investment interest. Given the historical and strategic relationship between our two countries, any side-lining of Riyadh could send an unintended diplomatic signal. Saudi Arabia has consistently provided financial support, and alienating such a longstanding partner would be short-sighted. Then there's China – Pakistan's all-weather friend, an important investor and partner through the China-Pakistan Economic Corridor. Any perceived shift towards Washington, especially in mineral-rich areas where Chinese interests are already active, could cause discomfort in Beijing. The overlap of strategic and commercial interests requires a nuanced approach. For Pakistan, the smart play is to keep all doors open. Investment is essential, but not at the cost of alienating traditional allies or undermining long-term strategic relationships. Balance is everything. The forum also called attention to the need for regulatory reform and infrastructure development. While Pakistan's mineral wealth is undeniable, a lack of modern infrastructure, energy supply, and clear regulations continues to deter investors. These challenges must be addressed to unlock the mining sector's full potential. The US, with its expertise in infrastructure development, could play a meaningful role in helping Pakistan modernise its regulatory framework and physical logistics. Security remains another key concern, especially across mineral-rich provinces like Balochistan. For any investment to succeed, the government must guarantee safety, equitable resource sharing, and transparency. A stable environment is crucial to attracting and retaining both foreign and local investors. Finally, a word of caution: the US has a complicated legacy in mineral-rich regions. History offers examples from Africa to Afghanistan, where foreign interest in natural resources led to conflict, instability, and weakened state control. The term "conflict minerals" did not emerge in a vacuum. For Pakistan, this is a lesson worth remembering. Granting any single power too much control or exclusive access risks compromising national sovereignty and increasing foreign interference. Pakistan must craft a mineral policy that promotes strategic autonomy, not dependency. As global demand for minerals like rare earths, copper, and gold continues to surge, Pakistan's untapped resources represent a major economic opportunity. If managed wisely – through inclusive partnerships, strategic diplomacy, and sustainable development – this sector could power a new phase of national growth. For the US, securing access to these materials strengthens its supply chain. THE WRITER IS A STAFF CORRESPONDENT
Express Tribune
09-04-2025
- Business
- Express Tribune
Tapping treasure troves
Listen to article Pakistan in pursuit of tapping its treasure troves beneath the surface took a leap forward by holding a two-day international moot. The Pakistan Minerals Investment Forum 2025 (PMIF25), held in Islamabad, attracted a sizeable gathering of foreign investors and official delegates, intended at unlocking the estimated trillions of dollars of untapped reserves. Given that Pakistan is on the map of precious minerals, especially its southwestern province of Balochistan, the new geo-economic craving and connectivity has opened new vistas of collaboration. Thus, a renewed push to introduce the geography and salient features of metals that await to see the light of the day across the length and breadth of Pakistan is a step in the right direction, especially at a time when global economic interdependence is on the rise in the wake of trade and tariff revulsions. The Prime Minister and the Army Chief push the envelope further by throwing open the vast potential with an official nod. This time around, Pakistan has come up with a roadmap to walk the talk by underscoring the need to process and export mineral products, rather than shipping raw materials abroad. This policy is two-pronged intended at not only sharing the bounties of minerals with the world at large for a right price tag, but also enabling the local industry to attract technical knowhow aimed at capacity building. If harnessed properly, it has the potential to pull the economy out of the abyss of degeneration and poverty, helping it out of the debt trap. That necessitates not only some critical thinking but also a foolproof plan to add value to extraction, and its subsequent compartmentalisation for earning due recognition on the international index. Saindak, Reko Diq and other gold pots have been in news more for litigations and controversies, and this is where pooling of synergies in the legal and commercial contexts is desired in all sincerity. Last but not least, a successful epilogue can only be written if the locals inhabiting these strategic lands are on board, and international investors are convinced that tranquility and consensus is assured.
