Latest news with #Pakistan-RussiaInter-GovernmentalCommission
Express Tribune
19-06-2025
- Business
- Express Tribune
Govt pursues Russian investment in mining
Pakistan has already chalked out a $1.9 billion funding plan to execute the Reko Diq copper and gold mining project. Total project funding has been estimated at $4.297 billion. Photo: File Listen to article Federal Minister for Energy Ali Pervaiz Malik is leading Pakistan's delegation to the St Petersburg International Economic Forum (SPIEF) 2025 from June 1821, 2025. According to an official statement issued Thursday, Malik held key meetings on the sidelines of the forum, including one with his Russian counterpart, Sergei Tsivilev, who also chairs the Pakistan-Russia Inter-Governmental Commission (IGC). Both sides discussed avenues for cooperation in energy, connectivity, trade, investment, banking, insurance, mining, and people-to-people exchanges. Russia expressed strong interest in expanding bilateral cooperation and welcomed the upcoming 10th session of the IGC, scheduled for the second quarter of 2025 in Islamabad. Malik also met with Alexey Shemetov, First Deputy Director of Rosatom Minerals, and invited the corporation to invest in Pakistan's mining sector, particularly in technology transfer and sharing expertise on enhancing safety and efficiency. Shemetov agreed to explore investment opportunities and submit proposals for collaboration in Pakistan's mining sector. In a high-level panel discussion titled 'The Responsibility of World Leaders for Mineral Reserves and Production for the Sustainable Development of Global Economy,' Malik presented Pakistan's recent reforms in the mining sector at the SPIEF 2025. He highlighted the newly launched Mining Framework Policy and the completion of the Reko Diq Mine feasibility study as major steps toward creating an investor-friendly environment for sustainable mineral development. He underscored the successful Pakistan Minerals Investment Forum, held in Islamabad in April 2025, as a turning point for the sector. "Under the leadership of Prime Minister Muhammad Shehbaz Sharif, Pakistan has undertaken comprehensive reforms to become a top destination for mining investment," said Malik. "Our new policy offers unparalleled opportunities in copper, gold, and critical minerals, while ensuring environmental stewardship and community benefits." He added that Pakistan has harmonised its legal framework with international standards through consultations with global legal firms. These reforms, he said, would unlock vast mineral resources through responsible development. Pakistan's mineral wealth, he added, is not limited to copper or gold but there are vast reserves of lithium and other rare earth elements. The minister noted that these initiatives were successfully unveiled at the Pakistan Minerals Investment Forum 2025, which saw strong participation from global mining leaders. He extended a formal invitation to international investors to participate in the next edition of Pakistan's Mineral Investment Forum. Multiple international mining companies expressed keen interest in participating in Pakistan's minerals forum. The positive engagement reflects growing confidence in Pakistan's reformed mining landscape.
Business Recorder
05-06-2025
- Business
- Business Recorder
Pakistan, Russia take holistic stock of bilateral ties
ISLAMABAD: The Special Assistant to the Prime Minister (SAPM), Syed Tariq Fatemi, undertook a visit to the Russian Federation from June 02-04, 2025. After meeting with the Russian Foreign Minister, the SAPM called on Sergey Tsivilev, Minister of Energy of the Russian Federation and Co-Chair of the Pakistan-Russia Inter-Governmental Commission (IGC). Both sides took a holistic stock of bilateral relations, identifying key areas of trade, energy, connectivity, new Steel Mills, cybersecurity, etc for future cooperation. The SAPM emphasised on the prospects of further development of energy cooperation between Pakistan and Russia. In addition, he briefed Tsivilev on the recent developments in South Asia, while lauding Russia's role in de-escalating tensions. Tsivilev expressed satisfaction on the outcomes of the ninth Pakistan-Russia Inter-Governmental Commission (IGC) held in Moscow in 2024 and hoped for productive next IGC in Pakistan this year, adding that Pakistan has the potential to become a 'transit hub'. Later, the SAPM called on Yury Ushakov, Senior Aide to the President on Foreign Policy Issues. During the meeting, the SAPM briefed him on the recent escalation in the South Asia and outlined Pakistan's position vis-à-vis India's aggressive actions, especially unilaterally holding the Indus Waters Treaty (IWT) in abeyance. Besides these meetings, the SAPM gave two interviews to the leading Russian TV networks, expressing his candid views on the increasingly positive trends in Pakistan-Russia relations and recent escalation between Pakistan and India. He also had an extensive exchange of views with a group of academics and journalists from prominent print and electronic media. Furthermore, the SAPM was hosted by Valdai Discussion Club, a prestigious think-tank in Moscow, for a talk on 4th June, on the recent developments in South Asia and Pakistan-Russia relations. Overall, the visit of the SAPM was highly successful, with several important official engagements and candid exchanges with parliamentarians, a think tank, several academics and journalists. It paved the way to explicitly share Pakistan's perspective on the recent situation and other important issues, such as IWT to the Russian side. There was widespread appreciation for the manner in which Pakistan was enhancing its relations with Russia, in important areas of trade, investment, energy and connectivity routes. Copyright Business Recorder, 2025
