Pakistan is poised to transform its vast, underexplored mineral wealth into a major economic engine, with the upcoming Second Pakistan Minerals Investment Forum (PMIF26) serving as the central catalyst. The forum, scheduled for April 8-9 in Islamabad, represents a strategic push to attract sustainable foreign investment and align the country's mining sector with international standards.
From Untapped Potential to Strategic Growth
Pakistan sits on enormous reserves of critical minerals, including copper, gold, lithium, cobalt, rare earths, and gemstones. Major deposits are located in Balochistan, Khyber-Pakhtunkhwa, and Gilgit-Baltistan, with the flagship Reko Diq project alone holding over 5.9 billion tonnes of ore. Despite this potential, exports remain minimal and local communities have seen limited benefits.
Building on the success of PMIF25, which drew 5,000 delegates from over 50 countries and yielded 14 MOUs, PMIF26 will feature a Strategic Conference, Technical Sessions, an International Gemstone Exhibition, and a dedicated resource library for investors. Federal Minister for Petroleum Ali Pervaiz Malik stated, "PMIF26 will serve as a key platform for promoting mining awareness, stimulating economic activity, and attracting sustainable investment into Pakistan’s mineral sector."
Policy Reforms and Global Ambitions
The government is implementing sweeping reforms to position Pakistan as a responsible partner in the global minerals market. A key initiative is the new national policy framework for gemstones, which targets $1 billion in exports over five years. Prime Minister Shehbaz Sharif has approved the establishment of international standard laboratories, certification systems, and centers of excellence for gemstones to boost credibility and draw private investment.
These reforms aim to empower local miners and entrepreneurs through:
- Better market access and fair pricing.
- Skill development and modern technology adoption.
- Collaboration with global industry players to improve quality and export potential.
In a recent blog for The National Interest, author Saima Afzal noted that Pakistan's policy reforms are designed to meet global benchmarks. The country seeks to emulate the success of mining giants like Chile, Australia, and Canada, which have leveraged structured policy, transparency, and international collaboration. Chile now accounts for nearly one-third of global copper production, while Australia has become a leader in lithium and rare earth exports.
Positioning for the Future and Ensuring Sustainability
PMIF26 is strategically positioning Pakistan as a regional hub for the critical minerals essential for the global energy transition, high-tech manufacturing, and industrial development. A recent MOU between US-based Strategic Metals (USSM) and Pakistan’s Frontier Works Organisation highlights the potential for technology transfer and integration into global supply chains.
Experts predict that fully developing the mineral and gemstone sector could boost Pakistan's GDP by $5-7 billion annually over the next decade, creating tens of thousands of jobs. The agenda for PMIF26 also integrates crucial discussions on Environmental, Social, and Governance (ESG) compliance and worker safety, ensuring that growth is paired with environmental protection and social safeguards.
By creating a transparent investment platform and aligning its policies with international standards, Pakistan aims to turn its "untapped potential into measurable economic and social impact." PMIF26 is not merely a forum; it is a strategic milestone for the nation's economic future.
