A delegation from Saudi Arabia, led by Deputy Minister for Mining, Industries and Minerals Khaled bin Saleh Al-Mudaifer, has displayed a strong interest in investing in Pakistan’s extensive mining sector. This keen interest was articulated during a meeting with Prime Minister Shehbaz Sharif in Islamabad, according to a statement released by the PM’s office.
The Meeting’s Highlights
During the discussion, the Saudi minister praised the current government’s pro-investment initiatives, particularly noting the creation of the Special Investment Facilitation Council. PM Sharif, in response, assured the delegation that potential investors would continue to be supported by both the interim and succeeding elected governments, especially in the mining sector.
This meeting closely follows the inaugural ‘Pakistan Minerals Summit’ held in Islamabad, which saw attendance from foreign investors, diplomats, and other key figures. The Special Investment Facilitation Council organised the summit, an initiative established in June to draw foreign investment.
The Significance of the Mineral Sector
Prime Minister Sharif took the opportunity at the summit to emphasize the importance of learning from past experiences and looking to Middle Eastern states who have built robust economies by leveraging their mineral wealth. Sharif singled out Saudi Arabia and the UAE as exemplars of nations that have effectively capitalized on oil and gas resources.
Following the ‘Pakistan Minerals Summit’, PM Sharif tweeted about the escalating significance of mineral resources in national economies, citing advances in renewable energy technologies. He noted the summit’s emphasis on defining new target areas, refining exploration strategies, and developing innovative methodologies for mineral extraction.
