Pakistan Targets Major Economy Status via Mineral Industrialization

Prime Minister Shehbaz Sharif announced that Pakistan aims to join the ranks of the world's major economies before 2050, citing forecasts that the nation could become the sixth-largest economy by 2075. Speaking at the Pakistan Minerals Investment Forum 2026, Sharif outlined a strategic shift from exporting raw minerals to developing domestic downstream industries for processing and refining.

Central to this strategy is the Reko Diq copper and gold project in Balochistan, which Sharif described as a model for future investment. During a meeting with Barrack Mining Corporation Chairman John Thornton, the Prime Minister emphasized that the people of Balochistan must benefit directly through employment and skill development. In response, Barrack Mining Corporation expressed interest in establishing processing industries in Karachi and Gwadar.

Finance Minister Muhammad Aurangzeb noted that a single major mining project could generate 2.8 billion dollars in annual export proceeds, roughly ten percent of current goods exports. He highlighted improved macroeconomic indicators, including foreign exchange reserves of 21.5 billion dollars, to attract investors. To support these goals, the government is digitizing geological records through a new National Minerals Data Centre and simplifying investment procedures.

Field Marshal Syed Asim Munir, Chief of Army Staff, pledged that the military would secure the mining ecosystem, including assets, manpower, and supply routes, to ensure the stability of international partnerships.