- 2,000 people are likely to attend the event
- Number of agreements, Mous also expected.
- PMIF25 to become an annual event: OGDCL MD
Islamabad: The Pakistan Mineral Investment Forum of two days 25 (PMIF25) began today (Tuesday) in Islamabad with an estimate of 2,000 people who attended, in an effort to exhibit the enormous mineral potential of the nation.
During the event from April 8 to 9, the government would present the land rich in Pakistan minerals, which covers around 600,000 square kilometers, The news reported.
Attendees include 300 representatives from abroad. Representatives of Azerbaijan, Saudi Arabia, China, the United States Department of State, the US Exim Bank. Several agreements and comprehension memorandes (MOU) are expected to be signed in the forum.
The Federal Minister of Natural and Natural Resources, Ali Pervaiz Malik, announced on Monday that he said that a regulatory framework of unified mining would be introduced, providing incentives for the addition of value to attract national and foreign investors.
Flanked by the managing director of Oil & Gas Development Company Limited (OGDCL) Ahmed Hayat Lak during a press conference, the federal minister said that the importance of responsible mining, ensuring the protection of the environment and the health and safety of local communities and workers. He pointed out that the mineral sector is a provincial subject, which leads to the confusion of investors due to different policies. Currently, there are six provincial mineral policies, eight acts and 36 different rules that govern the sector.
The OGDCL MD declared that PMIF25 would become an annual event, with plans to improve its scope every year.
A key culminating point of the forum would be the official launch of the National Mineral Harmonization Framework 2025 by the Federal Government, with the aim of attracting investments in the mineral sector.
Prime Minister Shehbaz Sharif would pronounce the policy speech on the opening day, while the head of the army staff, the general also munir, would also go to the forum. Key speakers include the Minister of Finance, Muhammad Aurengzeb, the Vice Prime Minister Ishaq Dar, the Minister of Energy Ali Pervaiz Malik and the Minister of Commerce Jam Kamal Khan.
The United States would be represented by Eric Meyer, senior officer of the Office of the South Affairs Office and Central Asians, to advance American interests in the mineral sector. Foreign investors and experts are arriving in Islamabad to attend the event, including the deputy general director of ADB, Catherine Marsh, and a delegation from the Xi’an Geological Survey Center of China.
Despite its vast potential, the mineral sector currently contributes only 3.2% to Pakistan’s GDP, and exports represent only 0.1% of the global total. However, with greater exploration, foreign investment and infrastructure development, the industry is prepared for significant growth.
