ISLAMABAD: COAS General Syed Asim Munir emphasized the social responsibility of all stakeholders in contributing to Pakistan’s economic revival. He urged them not to lose hope. Speaking at the “Pakistan Minerals Summit” in Islamabad, he invited foreign investors to explore the country’s abundant mineral resources and collaborate in their development.
General Munir emphasized that joint efforts can unlock vast mining opportunities. He emphasized ensuring an investor-friendly system to avoid unnecessary delays. The first mineral summit set new rules to ease doing business for domestic and foreign investors. It recognizes mineral projects as the key to success. The government, in collaboration with institutions, established the Special Investment Facilitation Council (SIFC) to unite all stakeholders.
Prime Minister Shehbaz Sharif called for the exploration of untapped resources. He mentioned resources including natural minerals and reserves, and the development of agriculture, information technology, and industrial sectors. He regretted not fully exploiting the precious natural deposits worth $6 trillion in Pakistan’s 75-year journey.
The summit witnessed the presence of federal ministers, foreign delegates, ambassadors, experts, relevant authorities, and investors. The COAS was included in the SIFC formed by the Prime Minister in June to complement the government’s efforts in dealing with economic challenges.
The government unveiled an elaborate ‘Economic Revival Plan’ to capitalize on Pakistan’s untapped potential in key sectors and fast-track development projects to navigate through the economic crisis.
Pakistan’s foreign exchange reserves received a boost, reaching $13.534 billion, due to financial support from the International Monetary Fund. Friendly countries like Saudi Arabia and the UAE also contributed to the economy’s revival. The State Bank of Pakistan’s reserves surged to $8.7 billion as of July 14. These levels, the highest recorded in nine months, boost investor confidence and the nation’s balance of payments.
