Pakistan Has Over $7 Trillion in Estimated Mineral Wealth: Ahsan Iqbal
Pakistan has estimated mineral resources worth more than $7 trillion, and the government is looking to attract foreign investment to develop these resources, Federal Minister for Planning Ahsan Iqbal said.
Speaking at the Asia Society Policy Institute in New York, Iqbal said critical minerals are an important part of Pakistan’s economic strategy as the country seeks long-term investment from the United States and other international partners.
Pakistan Seeks Investment in Mining Sector
According to Iqbal, years of regional instability and political uncertainty had made it difficult to attract the long-term investment required for major mining projects.
He said improving economic conditions are creating opportunities to bring international companies into Pakistan’s mineral sector.
The government is also engaging with US companies through initiatives including a memorandum of understanding with US Strategic Metals, potential support from the US Export-Import Bank and participation in international forums focused on critical minerals.
Iqbal emphasized that stronger economic cooperation with the United States would not affect Pakistan’s relationship with China.
He described China as a longstanding partner and said Pakistan does not consider cooperation with major economies to be mutually exclusive.
CPEC 2.0 Focuses on Business Partnerships
Iqbal said the first phase of the China-Pakistan Economic Corridor (CPEC) attracted around $25 billion in investment and contributed to improvements in electricity supply, highways, fibre-optic connectivity and Gwadar Port.
He said CPEC 2.0 is now expected to place greater emphasis on business-to-business cooperation.
Key areas include economic growth, employment opportunities, innovation, renewable energy and regional connectivity.
Mining, agriculture, industrial joint ventures, technology and human-resource development are among the sectors being targeted. The minister said several billion dollars in joint-venture agreements have been signed at recent business events.
AI and Data Centres Emerging as Investment Areas
Pakistan is also seeking investment in artificial intelligence and digital infrastructure.
Iqbal said the government is working to develop a national AI ecosystem covering data centres, education, data sovereignty and sector-specific applications.
Potential applications include healthcare, industry and public-sector services.
The minister also noted that Pakistan has available energy capacity from both renewable and conventional sources, which could support the development of data centres in the short and medium term.
Water Security Remains a Key Challenge
Iqbal also linked Pakistan’s economic plans with the country’s growing need for water security.
He said developments surrounding the Indus Waters Treaty have created additional concerns for Pakistan and highlighted the importance of improving domestic water storage.
The government is accelerating work on major projects including the Diamer-Bhasha and Mohmand dams, which are expected to provide around six million acre-feet of additional storage capacity once completed.
Iqbal said Pakistan had gone several decades without developing a major new reservoir and now needs to expand its water-storage capacity.
Additional storage could help improve water security, manage climate-related changes and reduce the country’s vulnerability to fluctuations in upstream water flows.
The minister said Pakistan would continue using diplomatic channels to address water-related issues while emphasizing the importance of regional cooperation and development.
