NA Committee Reviews Reko Diq, Mineral Investments amid Saudi-China Interest

The National Assembly Standing Committee on Commerce, chaired by Muhammad Jawed Hanif Khan, reviewed investment opportunities in copper, rare-earth minerals, and the Reko Diq project, amid growing interest from Saudi Arabia and China under the Special Investment Facilitation Council (SIFC) framework.

Pakistan’s mineral sector especially copper and rare-earth reserves has drawn international attention due to its potential for high-value exports. The Reko Diq project, a multibillion-dollar mining initiative in Balochistan, remains central to this strategy, promising to strengthen Pakistan’s resource-based economy and attract global investors.

During the meeting, the committee directed the Commerce Ministry to present a feasibility report on local smelting and value-addition initiatives to ensure maximum domestic benefit from mineral extraction.

“Local processing and value addition must be prioritized to create jobs and retain revenue within Pakistan,” said Chairman Muhammad Jawed Hanif Khan.

The committee also emphasized addressing non-tariff trade barriers, particularly with the United States, and sought a progress update on the Import Policy Order (IPO) 2022, which has affected timber and agricultural trade.

An inter-ministerial committee was formed to review phytosanitary regulations and recommend solutions within a week to facilitate timber imports and reduce demurrage losses.

Officials highlighted a decline in EU rice interceptions and reported that seafood exports reached $466 million in FY 2024–25, supported by the Agro-Products Export Enhancement Roadmap. Progress in sectors like pharmaceuticals, leather, and marble was also discussed.

The panel expressed concern over the retrospective salary increase of the former CEO of Pakistan Reinsurance Company Limited (PRCL), halting payments until the SECP’s fact-finding report is finalized.

Regarding Pakistan-Iran trade, members noted improved bilateral exchanges despite sanctions, stressing the need for enhanced border facilitation and the implementation of the barter trade system.

“Pakistan’s trade policy must be transparent, evidence-based, and aligned with international standards,” the chairman reiterated.

The session was attended by MNAs Dr. Mirza Ikhtiar Baig, Tahira Aurangzeb, Kiran Haider, and Shaista Pervaiz, along with senior officials from the Commerce Ministry, TCP, and SECP.