KP Governor Announces New Mineral Investment Plan

Khyber Pakhtunkhwa (KP) Governor Faisal Karim Kundi has invited foreign and Pakistani firms to set up joint ventures to extract the province's minerals, a week after the federal administration imposed Governor's Rule in the province.

Key points

• President Asif Ali Zardari authorized Governor's Rule in KP on October 11 under Articles 232 and 234 of the Constitution, on the advice of Prime Minister Shehbaz Sharif.
• Kundi additionally criticized Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman for opposing Governor's Rule.
• The governor informed journalists in Peshawar on Saturday after attending the 59th convocation of the College of Physicians and Surgeons Pakistan (CPSP) as chief guest.
• The governor's push comes days after an Auditor General of Pakistan report flagged Rs.
• Pakistan has 92 known minerals, of which 52 are extracted commercially.

"Minerals are meant to be extracted, " Kundi remarked in a briefing. "We invite all foreign and local companies to come to Khyber Pakhtunkhwa and form joint ventures with us."

Notably, the governor informed journalists in Peshawar on Saturday after attending the 59th convocation of the College of Physicians and Surgeons Pakistan (CPSP) as chief guest. Pakistan Targets $8 Billion Mineral Exports. Joint Ventures and Jobs.

Kundi remarked KP is rich in mineral resources and that the province aims to extract and sell them.

He defended the idea of partnerships with international firms. He asked why anyone would oppose a foreign firm forming a joint venture with Pakistani businesses and the individuals of KP if it brings jobs and economic backing.

For context, the governor additionally called on the extraction of the province's oil and gas reserves. He remarked economic opportunities and access to education would produce communities less vulnerable to extremist narratives.

Kundi additionally stated restoring peace and law and order remains the top priority of the emergency council. He remarked heavy investment will be produced in the police, and 10 to 12 terrorism-affected districts will be developed as model districts for peace and security. Province Under Governor's Rule.

President Asif Ali Zardari authorized Governor's Rule in KP on October 11 under Articles 232 and 234 of the Constitution, on the advice of Prime Minister Shehbaz Sharif. Kundi now heads an 11-member advisory council that runs the province's major departments. Dr. Sarfaraz Ali Shah has been given the mines and minerals portfolio.

Kundi additionally criticized Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman for opposing Governor's Rule. He remarked the setup had been formed without the JUI-F chief's backing and would continue to work. Challenges in the Minerals Sector.

For context, the governor's push comes days after an Auditor General of Pakistan report flagged Rs. 16.94 billion in irregularities in KP's Minerals Department. Illegal mining alone accounted for Rs. 8 billion in losses.

Pakistan has 92 known minerals, of which 52 are extracted commercially. The country's mineral reserves are estimated at $8 trillion, but the sector contributes less than 3 percent to the national GDP. Stay Connected with ProPakistani.

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Taken together, the developments around KP Governor Announces New Mineral Investment Plan point to a situation that is still moving, and the coming days should bring more clarity.