Faiza Tehseen

Pakistan has yet to fully showcase its vast mineral potential on the international scene to attract foreign investments in this lucrative sector. “By organising road shows at home and abroad, Pakistan can attract huge investments in its mineral sector, opening this billion-dollar industry to foreign investors and heralding socioeconomic prosperity at home,” notes Dr Yasir Shaheen Khalil, an assistant director of the Geological Survey of Pakistan (GSP). Talking to WealthPK, he said Pakistan could follow the Chinese model by organising mineral shows. He pointed out that the Shanghai Corporation Organisation countries frequently organised such showsto attracting investors and buyers. “Mineral roadshows are frequently held in Shanghai, Xi’an and Xinjiang in China, where relevant authorities, lease owners and traders showcase their products, attracting both investors and buyers.”

He pointed out that lack of funding and government patronage was the major reason for not exploiting the quality mineral depth of Pakistan. He said many projects could not be executed for want of funds. Shaheen Khalil said projects as small as worth $50,000 could be launched in Gilgit-Baltistan region to exploit the copper reserves there.He said further funding could be directed depending upon the deposit quantity and type. He said the government should endeavour to attract foreign direct investment in its mineral sector to truly realise its potential. The GSP official said though mineral shows were occasionally held at the Pak-China Centre in Islamabad, Karachi Expo Centre and other cities, they have not been able to attract the level of investments Pakistan needs to tap its mineral potential. Shaheen Khalil said the government should focus on inviting sound international mining companies to carry out exploration and exploitation activities in Pakistan.

Credit: INP-WealthPk