Prime Minister Shehbaz Sharif on Tuesday said that the huge geological potential coupled with its internationally competitive policy framework, fiscal and regulatory regimes and low labour cost had made Pakistan an attractive destination for investors on the world mineral map.
“The day is not far away when our mineral wealth will be contributing more than five percent to national GDP from the present less than one percent,” the prime minister wrote on social media following the conclusion of the Pakistan Minerals Summit held here.
He said the Summit brought together ambassadors from friendly countries, mineral sector executives, scientists, industry experts and policymakers to deliberate on the vast untapped potential in the minerals and mining sector and make recommendations to attract investment.
Held under the banner of the Special Investment Facilitation Council, it was the third summit in a series after the ones held on agriculture and information technology.
The prime minister said that the importance of mineral resources in national economies had increased manifold due to rapid developments in renewable energy technologies.
He said the summit highlighted the need for setting new target areas, improving exploration strategies and devising new methodologies for extracting minerals.
Prime Minister Shehbaz said that the geological location of Pakistan was known to host a variety of mineral resources ranging from clays, building stones, industrial minerals, coal to metallic minerals and precious gemstones.