SyedShayan.com

Islamabad (Re News Pakistan)
Pakistan has launched a major reform drive in the mining sector, aiming to bring the country’s vast mineral resources into the mainstream economy. Officials say the new policy direction is designed to create an investor friendly environment where both local and foreign companies can operate safely and efficiently, even in remote and challenging regions.

Speaking at a session of the Pakistan Business Forum, Petroleum Minister Ali Pervaiz Malik explained that one of the most persistent obstacles to investment is the constitutional arrangement that places mineral ownership under provincial authority. As a result, each province has its own laws and licensing systems, forcing companies to navigate complex and often conflicting regulatory paths. He said the government is now working on a unified national framework that will bring all rules, procedures and safety standards under a single structure.

The minister added that environmental, social and governance standards, along with safety requirements, are being aligned with international norms so that Pakistan’s mining sector can compete globally. He described the Reko Diq project as the model for this new approach, noting that it has entered the construction phase after achieving the largest private sector financial closing in the country’s history.

Dr Hamid Ashraf, Adviser to the Geological Survey of Pakistan, said the sector has long suffered from legal fragmentation, with six separate mining policies, eight Acts and thirty six sets of rules operating at the same time. He stressed that Pakistan now needs to benchmark its regulatory and fiscal systems against leading mining jurisdictions including British Columbia, Western Australia, Indonesia, Kazakhstan, Chile and South Africa.

Zarrar Jamali, Country Manager of the Reko Diq Mining Company, said that feasibility studies, environmental and social assessments and baseline surveys have all been completed, and that construction work is proceeding steadily.

Dr Zeelaf Munir, Chairperson of the Pakistan Business Council, said Pakistan’s economic future depends on reforms, strong partnerships and sustained investment. She emphasised that progress is only possible when the government, investors and the business community work together.

According to officials, these new measures aim to transform Pakistan’s mineral wealth into long term economic stability, industrial growth and wider investment opportunities.