Pakistan is signalling renewed intent to unlock its vast but underutilised mineral resources, following the recent Pakistan Minerals Investment Forum held in Islamabad. With over 300 delegates from local and international firms, the summit stirred optimism around the country’s potential to reduce its reliance on foreign aid by leveraging its rich reserves of critical minerals.
Prime Minister Shehbaz Sharif emphasised that Pakistan’s mineral resources, estimated to be worth trillions, could offer a sustainable path toward economic self-sufficiency.
“We must stop being bailout-dependent and focus on harnessing what lies beneath our soil,” he said.
According to economist Asim Sajjad Akhtar, Pakistan can become a significant player in the global minerals market if strategic value-chain investments are made, including local refining and value-added exports instead of merely shipping out raw materials.
Agreements in Place but Transparency Needed
The forum led to the signing of 16 strategic MoUs and agreements with public and private partners, both domestic and foreign. However, experts like Dawn’s editorial board have warned that transparency in contract value and long-term viability is critical. Without it, the country risks losing value from its natural assets.
Durdana Najam, a policy analyst, pointed out that unless the business environment improves, with better governance, tax reforms, and investor protection, efforts to revamp the sector may not translate into actual economic gains.
Additionally, concerns persist around equitable resource distribution, especially in provinces like Balochistan and Khyber Pakhtunkhwa. Experts stress that locals must be prioritised in employment and profit-sharing, or risk further unrest and distrust.
Power Sector Ambitions: From Dasu to Small Dams
In parallel with mining, Pakistan is focusing on ramping up its clean energy capacity. Federal Minister for Water Resources Muhammad Moeen Wattoo reiterated the government’s goal to double hydropower capacity from 9,500 MW to 19,500 MW by 2030 through the phased completion of projects like the Dasu Hydropower Plant.
Despite this ambition, the Public Accounts Committee (PAC) has flagged delays, inflated budgets, and incomplete land resettlement processes. The cost of Dasu Stage-1 has surged from Rs479 billion to Rs1.74 trillion, with its completion now pushed to November 2028.
Meanwhile, small dams are emerging as a more immediate solution. Khyber Pakhtunkhwa has committed to building 30 new small dams with a budget of Rs43.6 billion, while Sindh has already built 22 dams supporting both irrigation and drinking water needs. Balochistan, however, faces setbacks with 25-30 out of 64 completed dams being destroyed during the 2022 floods.
Strategic Outlook
Pakistan’s twin ambitions of mineral sector reform and clean energy growth align with broader global shifts toward sustainable development and strategic autonomy. But experts argue that progress will only be realised with policy coherence, provincial inclusion, and governance reforms.
