KP Governor Announces New Mineral Investment Plan

Khyber Pakhtunkhwa Governor Faisal Karim Kundi has made a new mineral investment proposal, inviting both foreign and Pakistani firms to collaborate in extracting the province’s natural resources shortly after the federal government implemented Governor’s Rule in the area. Speaking at a press conference in Peshawar, Kundi emphasized the potential of minerals in the region and urged all companies to establish joint ventures with KP.

The governor highlighted the province’s rich mineral reserves and expressed confidence in the economic benefits that would arise from these partnerships. Kundi defended the idea of joint ventures with international entities, questioning the opposition to such collaborations that could generate jobs and foster economic growth. He also called for the extraction of oil and gas reserves, arguing that enhanced economic prospects and access to education would reduce the susceptibility of communities to extremist ideologies.

Kundi further affirmed that restoring peace and restoring law and order are the foremost priorities of the emergency council, and significant investments will be directed towards bolstering the police force, with a focus on developing 10 to 12 terrorism-affected districts into model districts. President Asif Ali Zardari granted Governor’s Rule in KP on October 11, following the advice of Prime Minister Shehbaz Sharif.

Kundi now leads an 11-member advisory council overseeing the province’s key departments. Dr. Sarfaraz Ali Shah has been assigned responsibility for mines and minerals. Kundi also criticized Jamiat Ulema-e-Islam-Fazl (JUI-F) leader Maulana Fazlur Rehman for opposing the Governor’s Rule, asserting that the council’s formation occurred without the JUI-F chief’s endorsement and would continue to operate independently.

The governor’s proposed mineral investment plan follows a recent Auditor General of Pakistan report revealing irregularities totaling Rs. 16.94 billion in the Minerals Department, with illegal mining accounting for Rs. 8 billion in losses. Despite possessing 92 known minerals, only 52 are commercially extracted, and the mineral sector contributes less than 3 percent to Pakistan’s GDP.