Pakistan has reaffirmed its full support for new investments in the country’s minerals and energy sectors, highlighting the recent progress in financing the Reko Diq copper-gold project as a highly encouraging step for national economic growth. Officials from the Petroleum Division, Oil & Gas Development Company Limited (OGDC), and London-based international law firm Milbank met with Minister for Petroleum Ali Pervaiz Malik in Islamabad to review the project’s current status. The discussions centered on facilitating strategic investments, improving investor confidence, and ensuring that large-scale projects deliver maximum economic benefits.
During the high-level meeting, Munib Hussain, a partner at Milbank representing the project’s financiers, shared positive updates regarding the financial close, a critical milestone that precedes full-scale construction. Minister Malik expressed satisfaction with these developments, emphasizing that the government is actively addressing bottlenecks and regulatory challenges to support both local and foreign investors. He noted that advancements in the Reko Diq project reflect growing confidence in Pakistan’s mining potential and its ability to attract significant international capital. OGDC Managing Director Ahmed Hayat Lak, whose company holds a substantial stake in the project, also attended the meeting, underlining the importance of collaboration between public and private stakeholders in driving the project forward.
Beyond Reko Diq, the discussions extended to broader opportunities in Pakistan’s minerals, oil, and gas sectors. Participants reiterated their commitment to fostering strategic investments that can contribute to long-term economic stability. The Reko Diq project alone is projected to inject up to $74 billion into Pakistan’s economy over its 37-year life cycle, offering a transformative impact on the domestic gold ecosystem. According to the Competition Commission of Pakistan (CCP), the country’s gold value chain remains largely informal, with more than 90% of trade occurring outside documented channels and prices often set through opaque association-driven mechanisms. The project is expected to formalize significant portions of the gold trade and reduce Pakistan’s reliance on imported bullion, which currently ranges from 60 to 90 tonnes annually.
Officials highlighted that developing Reko Diq and similar initiatives can mitigate market vulnerabilities, prevent smuggling, and reduce tax leakages, ultimately supporting a more structured and transparent gold ecosystem. The federal government’s support for these investments reinforces its commitment to creating an enabling environment for large-scale projects while encouraging international partnerships that drive technological adoption, efficiency, and sustainable growth in Pakistan’s mining and energy sectors. The successful financing of Reko Diq is seen as a signal to global investors that Pakistan is committed to streamlining regulatory processes, safeguarding investments, and enhancing economic potential through strategic sector development.
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