The two-day mineral summit in Islamabad, attended by 300 delegates, including international investors, has rekindled hopes for Pakistan’s largely untapped mining sector. Prime Minister Shehbaz Sharif’s assertion that the country’s trillion-dollar mineral wealth could end its reliance on foreign bailouts is ambitious—yet not unfounded. Recent discoveries of hydrocarbons in Khyber Pakhtunkhwa and gold-copper deposits in Balochistan highlight the vast potential beneath Pakistan’s soil. However, transforming these reserves into economic prosperity demands more than optimism; it requires prudent policies, transparency, and inclusive development.
While international interest is growing—spurred by the resolution of the Reko Diq dispute and new discoveries—investors will conduct rigorous feasibility studies before committing capital. Pakistan’s government must avoid the temptation of overpromising or hastily signing flawed contracts, as seen in the past. The Saindak project, where raw minerals were exported with minimal local benefit, and the Reko Diq fiasco serve as stark reminders of how poor agreements can lead to disputes and lost opportunities. Future deals must ensure value addition within Pakistan, from extraction to refining and finished exports, rather than allowing raw resources to be shipped abroad.
The mineral-rich provinces of Balochistan and KP are also hotspots for militancy and unrest. While the army chief’s assurance of security for investors is a step in the right direction, tangible measures are needed to stabilize these regions. Beyond security, the local populace must see tangible benefits—jobs, infrastructure, and equitable revenue sharing. The Baloch insurgency stems, in part, from the perception that their resources are exploited without fair returns. If mineral wealth is to be a national game-changer, it must first transform the lives of those in the regions where it is extracted.
For sustainable growth, Pakistan must adopt a transparent bidding process, fair valuation of resources, and contracts that prioritize long-term national interests over short-term gains. Additionally, provincial governments must be stakeholders in decision-making to prevent alienation. The success of this mineral boom hinges not just on foreign investment but on ensuring that its rewards are shared justly among all Pakistanis—especially the people of Balochistan and KP. Without inclusivity and accountability, this opportunity, like many before, may slip away.
