Lahore: Finance Minister Muhammad Aurangzeb has said that Pakistan’s Reko Diq gold and copper mining project is expected to generate USD 2.8 billion in annual export earnings once production begins in 2028. Speaking at the Lahore Chamber of Commerce, the minister said the project will play a central role in transforming Pakistan into an export-driven economy.
“Copper is going to play the most critical role in terms of energy transition,” Aurangzeb said, referring to global trends that have increased demand for copper, especially in the renewable energy sector. “To this, deposits in Reko Diq are our answer.”
Drawing comparisons to Indonesia’s success in leveraging its nickel reserves, which earned the country USD 22 billion in exports in 2024, the minister remarked, “Copper is to us what nickel has been to Indonesia.”
Located in Balochistan, the Reko Diq mine is considered one of the world’s largest untapped copper and gold reserves. The project is being developed as a joint venture with international partners and is seen as a key pillar of Pakistan’s long-term economic strategy.
The finance minister also outlined broader macroeconomic improvements, including a decline in inflation, falling interest rates, and reduced debt servicing costs for businesses. While acknowledging recent volatility in the stock market, he downplayed its impact, saying, “I consider our stock market as a data point… it is still not deep enough to reflect main street sentiment.”
Emphasising the need for a national shift toward export orientation, Aurangzeb said, “Every single sector has to export.” He shared this view during a recent exchange with the Ethiopian ambassador at the Made in Gujranwala Expo 2025.
On the fiscal front, he confirmed ongoing discussions with the International Monetary Fund (IMF), stating that talks were progressing positively. The government, he said, is committed to improving the tax-to-GDP ratio from the current 9–10% to 13% through tax base expansion. “Only if we broaden the tax base will this be the last IMF programme,” he added.
Aurangzeb also announced upcoming measures aimed at simplifying income tax filing for the salaried class, including the launch of mobile applications. Demonstrating a personal commitment to public service, he revealed that he has not drawn a salary for the past 15 months.
Regarding privatisation efforts, the finance minister confirmed that new expressions of interest for the sale of Pakistan International Airlines (PIA) will be issued later this month.
The remarks reflect the government’s broader push to stabilise the economy, reduce reliance on external financing, and unlock the country’s export potential through strategic resource development.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
