- 2,000 people are likely to attend the event
- Number of chords, Mous also awaited.
- PMIF25 to become an annual event: OGDCL MD
Islamabad: Pakistan Mineral Investment forum of two days 25 (PMIF25) launched today (Tuesday) in Islamabad with around 2,000 people present, in order to show the huge mineral potential of the country.
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.
Participants include 300 overseas representatives. Representatives of Azerbaijan, Saudi Arabia, China, the US State Department, the US Exim US Bank, the Asian Development Bank (BAD), and CEOs of Denmark, Kenya, Finland and the United Kingdom are part of the participants. We expect a certain number of agreements and understanding of understanding (soft) to be inked in the forum.
The Federal Minister of Petroleum and Natural Resources, Ali Perviz Malik, announced on Monday that he said that a unified mining regulatory framework would be introduced, offering added incentives to attract national and foreign investors.
Flanked by Oil & Gas Development Company Limited (OGDCL), director general Ahmed Hayat Lak during a press conference, the Federal Minister said underlined the importance of responsible mining, guaranteeing environmental and health protection of communities and local workers. He noted that the mineral sector is a provincial subject, leading to the confusion of investors due to various policies. Currently, there are six provincial mineral policies, eight acts and 36 different rules governing the sector.
The OGDCL MD said that PMIF25 would become an annual event, with plans to improve its scope each year.
A highlighting point of the Forum would be the official launch of the framework for the harmonization of 2025 national minerals by the federal government, aimed at attracting investments in the mineral sector.
Prime Minister Shehbaz Sharif would pronounce political speech on the day of opening, while the chief of staff of the Asim Munnir army would also be addressed to the forum. The main speakers are the Minister of Finance Muhammad Aurangzeb, 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 manager of the office of the South and Central Affairs Bureau, to advance American interests in the mineral sector. Investors and foreign experts arrive in Islamabad to attend the event, notably the deputy director general of the BAD Catherine Marsh and a delegation from the Xi’an Geological Survey Center Chinese.
Despite its vast potential, the mineral sector currently only contributes 3.2% to Pakistan GDP, exports representing only 0.1% of the world total. However, with increased exploration, foreign investments and infrastructure development, industry is ready for significant growth.