Pakistan Estimates Mineral Wealth at Over $7 Trillion: Planning Minister

Planning Minister Ahsan Iqbal has said Pakistan estimates its mineral resources at more than $7 trillion, highlighting the sector’s potential to attract foreign investment and support long-term economic growth.

 

Speaking during a discussion with the Asia Society Policy Institute, Iqbal said large-scale mining requires substantial upfront investment and long development periods, while political instability has historically discouraged international resource companies from investing in Pakistan.

 

He said improving macroeconomic stability was helping the government attract foreign partners, including US companies. Islamabad is exploring cooperation through a memorandum of understanding with US Strategic Metals, potential EXIM financing and participation in international critical-minerals initiatives.

 

The minister also highlighted Pakistan’s water-security concerns, saying India’s decision to place the Indus Waters Treaty in abeyance had created a new strategic challenge. Pakistan is accelerating construction of reservoirs, including the Diamer-Bhasha and Mohmand dams, which are expected to add around six million acre-feet of storage capacity once completed.

 

Iqbal said the government is pursuing diplomatic channels to manage water-related tensions while strengthening domestic storage capacity against climate-related variability.

 

He also stressed that Pakistan’s “Uraan Pakistan” framework and 5E strategy place geoeconomics at the centre of foreign policy, with the aim of expanding economic ties beyond traditional security concerns.

 

At the same time, Iqbal said closer engagement with the United States would not come at the expense of Pakistan’s relationship with China, which he described as a trusted partner and a major contributor to infrastructure and energy development through CPEC.