Minerals to be ‘real game changer’ for Pakistan’s economy — finance minister

Federal Minister of Finance and Revenue, Muhammad Aurangzeb, addresses a press conference in Islamabad, Pakistan, on April 5, 2025. (AFP)
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Updated 12 April 2025
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Minerals to be ‘real game changer’ for Pakistan’s economy — finance minister

  • Pakistan hosted minerals investment forum on Apr.8-9 to attract international investment in the sector 
  • Muhammad Aurangzeb urges all economic sectors to export to earn Pakistan valuable foreign exchange

ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb said on Saturday that the country’s minerals sector would prove to be the “real game changer” for the national economy in the years to come, reiterating the government’s ambitions to ensure export-led growth.

His comments came following the Pakistan Minerals Investment Forum 2025 hosted by the government in Islamabad in collaboration with its partners from Apr. 8-9. The summit was aimed at attracting foreign investment in the country’s mining sector and saw participation from major international companies including Canada-based Barrick Gold and government officials from the United States, Saudi Arabia, China, Turkiye, the United Kingdom, Azerbaijan and others.

Pakistan is home to one of the world’s largest porphyry copper-gold mineral zones, while the Reko Diq mine in southwestern Balochistan province has an estimated 5.9 billion tons of ore. Barrick Gold, which owns a 50 percent stake in the Reko Diq mines, considers them one of the world’s largest underdeveloped copper-gold areas, and their development is expected to have a significant impact on Pakistan’s struggling economy.

But despite rich reserves of salt, copper, gold and coal, Pakistan’s mineral sector contributes only 3.2 percent to GDP and 0.1 percent to global exports. The country is now aiming to tap into this underutilized potential.

“So, 2028 onwards when we talk about whether we have an exportable surplus or not, from traditional sectors textile is going to remain absolutely critical for us as we go forward,” Aurangzeb said while speaking to members of the Lahore Chamber of Commerce. 

“IT services [also] as we go forward and minerals, as we go forward,” he added. “This [minerals sector] is going to be the game changer, the real game changer.”

Aurangzeb said the minerals summit hosted by Pakistan was reflective of the country’s economy heading in the right direction. 

He said around 300-400 delegates from several countries attended the conference with a keen interest in investing in Pakistan’s minerals. 

“These are all manifestations that we have to take this forward,” the minister said. 

Reiterating the government’s resolve to ensure export-led growth in the economy, Aurangzeb called upon all economic sectors to export their products to earn Pakistan valuable foreign exchange. 

“Every single sector has to export,” he said. “No one has taken the responsibility that only textile has to export or any other has to.”

The finance minister noted that Pakistan’s auto manufacturers have started exporting their products, saying there were markets for Pakistani exporters in the Gulf Cooperation Council (GCC) and African countries.


Thousands flee northwest Pakistan after mosques warn of possible military action

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Thousands flee northwest Pakistan after mosques warn of possible military action

  • Residents of the Tirah Valley said they have moved out of the area into nearby towns despite heavy snowfall and cold winter temperatures
  • Defense Minister Khawaja Asif denied any operation was planned or underway in Tirah, calling the movement a routine seasonal migration

BARA/KARACHI: Tens of thousands of people have fled a remote mountainous region in northwestern Pakistan in recent weeks, ​residents said, after warnings broadcast from mosques urged families to evacuate ahead of a possible military action against militants.

Residents of the Tirah Valley, in the Pakistani province of Khyber Pakhtunkhwa that borders Afghanistan, said they have moved out of the area into nearby towns despite heavy snowfall and cold winter temperatures because of the announcements to avoid the possible fighting.

“The announcements were made in the mosque that everyone should leave, so everyone was leaving. We left too,” said Gul Afridi, a shopkeeper who fled with his family to the town of Bara located 71 km (44 miles) east ‌of the ‌Tirah Valley.

Local officials in the region, who asked to remain unidentified, ‌said ⁠thousands ​of families ‌have fled and are being registered for assistance in nearby towns.

The Tirah Valley has long been a sensitive security zone and a stronghold for Tehreek-e-Taliban Pakistan, a militant group that has carried out attacks on Pakistani security forces.

The Pakistani government has not announced the evacuation nor any planned military operation.

On Tuesday, Pakistan’s Defense Minister Khawaja Muhammad Asif denied any operation was planned or underway in Tirah, calling the movement a routine seasonal migration driven by harsh winter conditions.

However, a Pakistani military source with knowledge of ⁠the matter said the relocation followed months of consultations involving tribal elders, district officials and security authorities over the presence of militants in ‌Tirah, who they said were operating among civilian populations and ‍pressuring residents.

The source asked to remain unidentified as ‍they are not authorized to speak to the media.

The source said civilians were encouraged to ‍temporarily leave to reduce the risk of harm as “targeted intelligence-based operations” continued, adding there had been no build-up for a large-scale offensive due to the area’s mountainous terrain and winter conditions.

Pakistan’s military media wing, the Inter-Services Public Relations, the interior ministry, and the Khyber Pakhtunkhwa provincial government did not respond to requests for comment made on Friday.

NOT ​THE COLD

Residents rejected suggestions that winter alone drove the movement.“No one left because of the cold,” said Abdur Rahim, who said he left his village for Bara ⁠earlier this month after hearing evacuation announcements. “It has been snowing for years. We have lived there all our lives. People left because of the announcements.”

Gul Afridi described a perilous journey through snowbound roads along with food shortages that made the evacuation an ordeal that took his family nearly a week.

“Here I have no home, no support for business. I don’t know what is destined for us,” he said at a government school in Bara where hundreds of displaced people lined up to register for assistance, complaining of slow processes and uncertainty over how long they would remain displaced.

Abdul Azeem, another displaced resident, said families were stranded for days and that children died along the way.

“There were a lot of difficulties. People were stuck because of the snow,” he said.

The Tirah Valley drew national attention in September after a deadly ‌explosion at a suspected bomb-making site, with officials and local leaders offering conflicting accounts of whether civilians were among the dead.