Five Pakistani business groups to invest billions of dollars in Balochistan’s mineral sector

ISLAMABAD: Five of Pakistan’s major business groups have announced a multibillion-dollar investment in the country’s mineral resources, ARY News reported.

Under the signed agreement, the investment will be directed toward the exploration of precious minerals in the Chagai district of Balochistan.

Discussing the initiative, former federal minister and business tycoon Gohar Ejaz stated that Balochistan is a province rich in untapped mineral wealth.

He emphasized that local Pakistani companies are now leading the investment in the region.

Mr. Ejaz noted that this project will usher in an era of development and prosperity, creating significant employment opportunities.

He further stressed that promoting domestic investment is a vital prerequisite to attracting international capital, describing the agreement as a “game changer” for the national economy.

Earlier, the World Bank’s Board of Executive Directors has approved $700 million in financing for the Pakistan Public Resources for Inclusive Development – Multiphase Programmatic Approach (PRID-MPA).

PRID-MPA is a multi-year, multi-program initiative aimed at supporting macroeconomic stability and improving service delivery in the country.

According to a World Bank press release, the PRID-MPA is an innovative national program designed to support federal and provincial reforms to mobilize domestic revenue, enhance the quality of public spending, and leverage data and digital tools to improve service delivery.

The program is intended to support ongoing fiscal reforms aligned with the IMF Extended Fund Facility (EFF) and the National Fiscal Pact, and will provide up to $1.35 billion in total financing over multiple phases.

Of this amount, the World Bank has approved $600 million for federal-level programs and $100 million for the Sindh provincial program.

“Through this MPA, we are working with the Federal and Sindh governments to deliver tangible impacts—more predictable funding for schools and clinics, fairer tax systems, and stronger data for decision-making—while safeguarding priority social and climate investments and strengthening public trust,” said Bolormaa Amgaabazar, World Bank Country Director for Pakistan.

The federal component will focus on raising domestic revenues more fairly, improve budget planning and execution, and strengthen data systems for evidence-based decisions.

Key actions include advancing tax policy and administration reforms; financing and scaling the Integrated Financial Management Information System and its linked e-procurement platform; undertaking targeted subsidy reforms; and strengthening the national statistical system led by the Pakistan Bureau of Statistics, the statement added.

In Sindh, the program is expected to increase provincial revenues, enhance the speed and transparency of payments, and broaden the use of data to guide provincial decision making, the statement concluded.