Latest news with #GeologicalSurveyofPakistan
Express Tribune
24-04-2025
- Business
- Express Tribune
Strategies discussed to explore minerals
Listen to article Federal Minister for Petroleum Ali Pervaiz Malik on Thursday visited the Geological Survey of Pakistan (GSP) to review its operations and discuss strategies for enhancing exploration of the country's mineral and hydrocarbon resources. He was given a detailed briefing by senior officials of the GSP on the ongoing geological surveys, mineral mapping initiatives and mineral hunt programmes to identify potential reserves across Pakistan. He commended the organisation's recent efforts to identify the untapped natural resources and stressed the importance of modernising reconnaissance and exploration techniques to support Pakistan's oil, gas and mineral sector that would help fulfil economic needs of the country. He stressed "the global focus is on critical minerals. Mining and mineral opportunities are larger than any political party or person. It is unfortunate to use it for political point scoring. It should be looked upon from the lens of national interest to ensure these resources truly benefit the local communities and the nation". "The Geological Survey of Pakistan plays a pivotal role in our national development by providing critical data to initiate resource exploration," said Ali Pervaiz Malik. "With the right investment in technology and expertise, we can unlock vast opportunities in minerals to ensure economic security and drive industrial growth." The minister highlighted the government's commitment to facilitating the GSP with advanced tools and international collaborations to accelerate geological research. He appreciated the accelerated mapping programme started by the GSP by using modern satellite imaging-based technologies for the unmapped areas of Pakistan to help harness the resource wealth effectively. ISO certification for the lab is also being aggressively pursued. Accompanied by senior officials from the Ministry of Petroleum and the GSP, the minister toured key facilities, including laboratories and data centres, where he interacted with geologists and scientists. He assured them of support in overcoming challenges and achieving breakthroughs in resource discovery.
Express Tribune
07-04-2025
- Business
- Express Tribune
Pakistan to display mining potential
Pakistan will showcase its metals and minerals potential to local and international investors during the two-day Pakistan Minerals Investment Forum 2025, beginning today (Tuesday) in Islamabad. Representatives from major economies and companies, including the US, UK, China, Saudi Arabia, Turkey, Denmark, Azerbaijan, Finland, and Kenya, will attend the forum, Minister for Petroleum Ali Pervaiz Malik and Oil and Gas Development Company Limited (OGDCL) MD Ahmed Hayat Lak said at a joint pre-event press conference on Monday. "The sector's [mining] contribution to Pakistan's GDP is less than 8%, but the indicated potential is not reflected in our economy. We are moving towards corporatisation of the mining sector," the minister said. "Minerals are a provincial matter. International stakeholders often struggle to identify the right contact point due to our six policies, eight acts, and 36 rule versions," he added. Efforts are underway to implement a unified framework, which some provinces have approved at the cabinet level, while others have passed legislation. The framework, based on global best practices from countries like Indonesia and Australia, was drafted with help from White & Case and reviewed by Wood Mackenzie. "We are also auctioning nearby blocks and revitalising the Geological Survey of Pakistan. Bidding is underway to encourage exploration, and we're pursuing partnerships with international firms," the minister said. The OGDCL MD said the company is fully involved in the Reko Diq project, along with Pakistan Petroleum Limited (PPL) and Government Holdings (Private) Limited (GHPL). He noted that the focus is now "Beyond Reko Diq," with new discovery announcements and agreements expected.
