Mineral Reserves Can Provide Export Diversification and Employment Opportunities: Saifur Rehman

LAHORE, August 9: Coordinator to the Federal Tax Ombudsman Saifur Rehman has said that Pakistan’s vast mineral reserves can serve as a source of new technology, export diversification and numerous employment opportunities, but this requires treating mineral resources as long-term national assets.

Speaking to a delegation of traders on Sunday, he said that, in light of the bitter experience of Reko Diq, all future agreements concerning critical minerals must undergo comprehensive legal, financial and technical scrutiny, while ensuring complete transparency.

He said the terms and conditions of such agreements, their financial implications and the responsibilities of all parties should be presented before Parliament.

Saifur Rehman said local communities should be made important stakeholders in mineral-related projects through employment opportunities, skills development, infrastructure, social investment and broader economic benefits.

He said the government should not rush into agreements merely on the basis of interest shown by US companies. Instead, Chinese companies with extensive experience across the entire value chain of critical minerals should also be encouraged to invest in Pakistan.

Competition between US and Chinese investors, he added, could enable Pakistan to secure better commercial terms, greater technology transfer and improved opportunities for value addition.