Success in Mining Could Lead to Bidding Farewell to IMF: PM Shehbaz

Shifting from Raw Exports to Finished Products to Boost Economy and Reduce Debt: PM said.

By DTD- On Apr 8, 2025

ISLAMABAD – Prime Minister Shehbaz Sharif expressed optimism about Pakistan’s mining sector, stating that if the country successfully taps into its vast mineral resources, it could say goodbye to the International Monetary Fund (IMF).

Speaking at the Pakistan Minerals Investment Forum, the Prime Minister emphasized that the event would play a key role in promoting investment in the mining sector, boosting investor confidence, and highlighting Pakistan’s abundant mineral reserves. He commended the collective efforts that made the forum a success, and extended special thanks to the Chief of Army Staff, the Minister of Energy, and the event organizers for their cooperation.

Prime Minister Sharif also shared his positive outlook on the progress of the Reko Diq project, noting that he has known Barrick Gold CEO Mark Bristow for over two and a half years and was encouraged by the advancements made. He reiterated that Pakistan holds trillions of dollars in mineral reserves, including significant deposits of gold, copper, and coal, particularly in Balochistan, Khyber Pakhtunkhwa, and Gilgit-Baltistan.

“Our focus will be on moving from raw material exports to finished products, which will not only boost our economy but also reduce foreign debt,” Sharif stated. He called on investors to focus on value-added industries and emphasized that by utilizing the country’s mineral resources, Pakistan could potentially break free from its dependence on external loans.

In his remarks, Finance Minister Ishaq Dar highlighted the importance of harnessing mineral resources for long-term economic stability. He confirmed that Pakistan is on the path to economic improvement, with positive indicators and recognition from international financial institutions.

Dar also emphasized that Pakistan is rich in natural resources, particularly gold and copper, and that investment in the mining sector is crucial to realizing the full potential of these resources. He expressed confidence that the forum would pave the way for greater investment in the mining industry, which will contribute to Pakistan’s sustainable economic growth.