In these difficult times for us as a nation, Pakistan Minerals Summit was meant to serve as a cornerstone to unlock the massive, yet largely untapped, natural wealth lying beneath our soil. Pakistan is at brink of exploring a natural gold mine which will give boost to country’s economy. From copper and gold to lithium and rare earth minerals, you name it and we have got it all. However, due to some one-sided political views from other parties especially PTI, and the politicization of vital reforms – most notably the Khyber Pakhtunkhwa (KP) Minerals Bill threatens the economic stability.
Recently, the KP Minerals Bill has been the center of attention, mainly due to the ongoing controversy developed by Pakistan Tehreek-e-Insaf. According to them, the bill is supposed to be in the best interest of the foreign companies instead of local communities. Contrary to their statement, government strongly believes that if the bill is passed, it would modernize the legal and institutional framework governing the province’s vast mineral resources, ensuring transparency, investor confidence, and long-term benefits for the people of KP and Pakistan as a whole.
Economic Urgency
Pakistan is not only going through economic crisis but overall being affected by higher import bills, depreciation of the rupee, and pressure of foreign reserves. During such a critical time, KP’s mineral belt is something that can bring Pakistan out of this crisis as it contains world’s most valuable deposits, including copper, chromite, phosphate, and other useful minerals. It seems like PTI stakeholders are least interested in making reforms for the people of Pakistan and are just focusing on provincial activities to let down the federal government.
What PTI government is doing is mere sensationalism but Pakistan needs statesmanship.
This KP Minerals Bill is entirely meant to introduce regulatory clarity, remove bureaucratic hurdles, and create a centralized authority that can streamline the whole legal framework. With the opposing remarks from PTI, it is quite unfortunate to let go foreign investors who are willing to invest in Pakistan’s mining potential, especially after the momentum generated at the Pakistan Mineral Summit.
Political Chaos vs. National Interest
Regarding this bill, PTI’s stance is misleading and directionless as they are trying to portray it as a source of obstruction. Instead of dialogue and efficient policymaking, PTI led KP government is intentionally exploiting the actual purpose of this bill. As a whole, they have put the greater reforms in jeopardy just because of their mere interest in letting down the federal government.
To be honest, this kind of political behavior – where key stakeholders of opposition create roadblocks instead of finding solutions – affects the investors’ confidence and reflects a highly unprofessional image of the country. Mining is such a sector where billions of dollars are at stake and people are willing to invest on the basis of ling term commitments and guaranteed political will. But when political players use economic reforms as a weapon for their short-term benefits, the whole nation suffers.
Visionary Bill
There might be a misconception to the PTI led KP government about the Mineral Bill that it will just be facilitating mining operations. As it stands, the latter is about institutional reform, economic empowerment, and regional upliftment. It provides a complete mechanism for licensing, environmental protection, and revenue sharing to attract external investors.
Not only this, but it also regulates the illegal mining processes from the past, ensuring anti-corruption policies, and minimizing revenue leakages through transparent checks and balances. Such initiatives bring a lot more job opportunities for the locals and which indeed bring economical stability. This KP Minerals Bill is a step forward for progressive governance rather than so-called exploitation.
Point to Ponder
What PTI government is doing is mere sensationalism but Pakistan needs statesmanship. Just like oil has been a major pillar of economy for the Middle Eastern countries, our mineral sector can become the highest contributor for our economy. But this is only possible when these key political stakeholders sit together and make decisions in the best interest of the country, rather than setting up short term tactics to support their individual governments.
It is vital for all stakeholders – political, bureaucratic, and private – to understand the importance of passing the KP Minerals Bill and supporting the objectives of the Pakistan Mineral Summit. This bill will turn into a national reform that will change the devastated picture of the Pakistan’s economy. At its core, the PTI needs to understand that forming such controversaries will lead Pakistan further into economic crisis especially at a time when the nation really needs an economic uplift through such growth engines.
The writer is member (Punjab Assembly). She is a close aide of Maryam Nawaz and tweets at @hinaparvezbutt