ISLAMABAD: Minister for Petroleum Ali Pervaiz Malik announced on Thursday that the government is working to streamline conditions for companies operating the Reko Diq and Saindak mining projects, enabling them to function more effectively in remote and infrastructure-deficient regions.
Speaking at a Pakistan Business Forum (PBF) session titled “Unlocking Pakistan’s Untapped Mining Resources for National Wealth,” the minister said a key challenge is that mineral resources fall under provincial jurisdiction. This has resulted in multiple and often conflicting sets of laws, rules, and licensing frameworks that investors must navigate across provinces.
Mr Malik said the federal government has been pushing to harmonise the regulatory environment by:
- Standardising ESG and safety protocols,
- Encouraging provinces to adopt a unified framework while retaining ownership,
- Establishing a consistent fiscal regime aligned with sector-specific risks, and
- Making the mining sector attractive for capital inflows.
He expressed hope that once fully operational, Reko Diq would become a benchmark project for Pakistan’s mining industry. He highlighted that despite long delays and legal disputes, Pakistan has now achieved its largest private-sector financial close of $3.5 billion.
The minister also clarified that the frequently cited $7 trillion mineral potential is purely an estimate derived from geological assessments. “It is just potential — not a measured or proven resource,” he emphasised.
Dr Hamid Ashraf, Adviser at the Geological Survey of Pakistan, said Pakistan’s fiscal and regulatory regime must be aligned with global mining leaders such as British Columbia, Western Australia, Indonesia, Kazakhstan, Chile, and South Africa. He noted that the country previously operated under six different mining policies, eight Acts, and 36 sets of rules, making it extremely difficult for any investor to operate effectively.
He added that Reko Diq is progressing well and is expected to serve as a “torchbearer” for the sector. Pakistan also holds significant mineral deposits in Saindak, Duddar, Chiniot, Kohistan, and Nagarparkar.
Reko Diq Mining Company (RDMC) Country Manager Zarrar Jamali told the forum that the project is currently in the construction phase, with feasibility studies, ESIA, and baseline assessments completed.
In closing remarks, Pakistan Business Council (PBC) Chairperson Dr Zeelaf Munir said Pakistan’s economic trajectory relies on “resilience, reform, and responsible partnership,” stressing that progress requires collective commitment from all stakeholders.
Story by Amin Ahmed
