ISLAMABAD: Saudi Arabia has expressed its keen desire to invest in the mining sector of Pakistan, which provides vast opportunities for investment.
The desire was expressed by a Saudi Arabian delegation, led by Deputy Minister for Mining, Industries and Minerals Khaled bin Saleh Al-Mudaifer, which called on Prime Minister Shehbaz Sharif
The Saudi Minister appreciated the pro-investors measures of the present government, particularly the establishment of the Special Investment Facilitation Council (SIFC).
Welcoming the delegation, the Prime Minister said Pakistan provides immense investment opportunities to investors, particularly in the mining sector.
“Pakistan is your second home. The brotherly relations between Pakistan and Saudi Arabia were of special significance. The whole Pakistani nation was grateful to Saudi King Salman and Crown Prince Mohammed bin Salman for supporting Pakistan in every difficult time,” he remarked.
He assured the delegation that not only the upcoming interim government but also the next elected government would keep on facilitating the investors.
He said the solar power project of 10,000 megawatts announced by the government was also a good opportunity for investment.
The Saudi minister said that the establishment of SIFC was a positive message to foreign investors in Pakistan. He said Saudi Arabia was keen to invest in the vast opportunities of investment in the mining sector of Pakistan.
The Saudi minister appreciated the prime minister for the pro-investor measures particularly the establishment of the SIFC as it would lead to economic development.
Later in a tweet, the prime minister said the importance of mineral resources in national economies has increased manifold due to rapid developments in renewable energy technologies.
He said the ‘Pakistan Minerals 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.
The prime minister said the summit highlighted the need for setting new target areas, improving exploration strategies and devising new methodologies for extracting minerals.
He said the geological location of Pakistan is known for hosting a variety of mineral resources, ranging from clays, building stones, industrial minerals, coal to metallic minerals and precious gemstones.
He said the huge geological potential, coupled with its internationally competitive policy framework, fiscal and regulatory regimes and low labour cost, has made Pakistan an attractive destination for investors on the world mineral map.
