Pakistans mineral resource endowments equal to $30tr
STAFF REPORT IBD: Pakistan has been gifted with large amount of natural resources from fertile land to large amount of mineral deposits to a large pool of human resources.
“Pakistans minerals consist some of the worlds largest reserves of coal, gold, copper, chrome, gas, rare earth, rock salt, gemstone, marble, onyx and granite and 42 other minerals,” Pakistani High Commissioner in Singapore, Hasan Javed, said this while speaking at a seminar recently held in Singapore.
He said that the recent advances in information technology (IT) and telecom apps, genome and bio-technology, medical sciences, defence and space technology have put Pakistan in a different league of nations. Despite big challenges, the countrys economy has maintained an average growth rate of 5.0 to 6.0 per cent for the past sixty years. Pakistans mineral resource endowments of $30 trillion are only a tip of the iceberg – it represents on only half of the country surveyed. In effect Pakistan is the most promising emerging market in the world.
Javed further said that Pakistans location makes it a gateway to half of the worlds population in China, India, Central Asia, West Asia and the Gulf region.
The rate of return is as high as 40-50 per cent with provision for 100 per cent repatriation of equity, profit and dividend.