Pakistan is endowed with a wealth of minerals, from coal and copper to gold and gypsum. The mining and quarrying sector, employing over 200,000 individuals, contributes about 1.6 percent to the nation’s GDP. Given the sector’s evident potential, Pakistan introduced National Mineral Policies in both 1995 and 2013. These policies underscore the significant role of mining in shaping the nation’s growth trajectory. By 2013, Pakistan’s mineral exploration expanded to encompass fifty-two minerals, a substantial leap from the mere five at the time of its independence. Recent discoveries of significant mineral reserves hint at the potential to uplift the national economy. To harness this potential, an insightful and robust National Mineral Policy is paramount. On the global stage in 2013, as nations were emerging from an economic recession, mining giants like China, India, and Australia were making significant strides. The US, recovering from its economic slump, increased its import of minerals such as gold and iron. China, despite a minor slowdown in its GDP growth, remained a dominant player, leading both the production and consumption of a vast array of minerals, driven largely by its expansive infrastructure and technology projects. Europe grappled with its sovereign debt, while globally, the search for premium quality minerals intensified. This surge in global activity was exemplified by the joint venture partnerships (JVP) agreement, setting guidelines for investors to ensure alignment with national development agendas. The mineral sector’s potential to foster socioeconomic growth remains untapped, with various impediments like governance issues and lack of proper investment hampering progress. Amidst this international scenario, Pakistan stepped into the global mining stage, armed with its rich mineral reserves. However, the country’s internal challenges, marked by a critical debt-to-GDP ratio, and various economic and geopolitical tensions, impacted its position. According to the World Bank, Pakistan stood 85th in trade facilitation, reflecting hurdles in business operations. The NMP 2013, while crucial, missed the mark in aligning with the global mineral market trends and demands. Delving into the historical context, the 1995 NMP was crafted under the leadership of Benazir Bhutto, catering to the requirements of industries and provincial administrations. The 1973 Pakistani Constitution, through Article 172, empowered provinces with control over their natural resources. This led to key agreements like the CHEJVA in 1993 between the Government of Baluchistan and BHP, an American firm, to mine gold and copper at Reko Diq. However, this venture faced numerous challenges, including legal disputes and contractual changes. The culmination was the 2013 annulment of the CHEJVA agreement by the Pakistan Supreme Court, setting the stage for the 2013 National Mineral Policy. This new policy NMP 2013 was more oriented towards federal coordination with provincial governments and foreign entities. The revamped NMP-2013 pivoted around five central pillars ie promoting private investments, navigating the intense international capital competition, ensuring seamless coordination across federal and provincial entities, prioritizing environmentally conscious explorations, and amplifying the role of small-scale mining with heightened local participation. The formulation of this policy was a result of meticulous consultations with stakeholders, mapping out Pakistan’s trajectory towards sustainable mineral development. Within the nation’s administrative structure, while nuclear and petroleum minerals fall under federal purview, the provincial governments hold authority over all other minerals, playing a crucial role in their regulation and development. While both policies shared several objectives and themes, their execution and emphasis varied. Yet, despite these comprehensive policies, the mineral sector’s potential to foster socioeconomic growth remains untapped, with various impediments like governance issues and lack of proper investment hampering progress. Salient Features of 2013 NMP: The 2013 National Mineral Policy (NMP) was an evolution of the 1995 policy, with modifications aimed not just at revising normative and regulatory frameworks and updating fiscal structures, but also with a deeper intent of uplifting the mining sector’s contribution to Pakistan’s GDP. The NMP-2013 is structured around 13 core principles. These are (1). Boosting revenue for both federal and provincial administrations; (2) Creating an environment conducive to investment and aligning with international standards of competitiveness; (3) Ensuring optimized exploration, development, and extraction of mineral resources; (4) Focusing on value addition to minerals; (5) Reducing the environmental and social impacts of mining activities; (6) Promoting employment, skill enhancement, technological adaptation, and infrastructural development; (7)Revising administrative structures at federal and provincial levels; (8) Facilitating data generation related to geology and ensuring its online accessibility; (9)Guaranteeing secure mining operations and safeguarding investor interests; (10) Prioritizing the rehabilitation and resettlement of mining regions; (11) Adopting an internationally recognized pricing strategy; (12) Structuring contract agreements to meet global standards; (13) and Facilitating seamless data exchange between the federal hub and provincial entities. In the next two parts of this Oped series, legal, regulatory & institutional frameworks and their respective gaps in NMP 2013 have been explored along with fiscal regimen comparison of NMP 1995 & 2013. (To be concluded) The writer works at a public policy think tank. He can be reached at saudzafar5@gmail.com