Finance Minister, U. S. delegation discuss cooperation in Pakistan’s mining sector

ISLAMABAD: Robert Louis Strayer II, President of the Critical Minerals Forum (USA), accompanied by H.E. Ms. Natalie Baker, Chargé d’Affaires of the United States, called on Federal Minister for Finance and Revenue at Ministry of Finance today. Senior officials from the Ministry of Finance and relevant departments also attended the meeting.
During the meeting, both sides discussed avenues of cooperation in the minerals and mining sector, strengthening supply-chain security, and encouraging responsible and sustainable investment in Pakistan’s critical minerals landscape.
Finance Minister welcomed the delegation and underscored Pakistan’s steady economic trajectory, noting improvements across macroeconomic fundamentals and governance reforms. “Our priority is fundamental fiscal hygiene-building the discipline where capital flows in, remains invested, and is secured through sound policies,” the Minister stated. “This foundation is now translating into improved sentiment and positive signals from international rating agencies.”
Finance Minister highlighted that Pakistan has embarked on deep-rooted structural reforms, including power sector restructuring, tax administration reforms, broadening of the tax base, and a roadmap for fiscal sustainability. He noted that the government is separating tax policy and administration functions by establishing a dedicated Tax Policy Unit within the Ministry of Finance to ensure improved governance and efficiency.
On privatisation and SOE reforms, Finance Minister shared that 24 state-owned enterprises have been referred to the Privatisation Commission as part of the government’s commitment to improve service delivery and enhance fiscal discipline.
Finance Minister also emphasized Pakistan’s strengthened geopolitical and economic partnerships, stating, “Pakistan today stands at a constructive intersection of global relationships—renewed momentum in Pakistan-U.S. ties, time-tested relations with China, and forward-looking strategic cooperation with the Kingdom of Saudi Arabia.”
Finance Minister stressed that Pakistan’s mineral and mining sector represents a transformational opportunity: “This offer Pakistan a pathway to shift from consumption-driven cycles to export-led growth. A strong minerals policy framework will help Pakistan break the cycle of periodic balance-of-payments pressures and reduce future reliance on multilateral support.”
Mr. Strayer shared that the Critical Minerals Forum, funded by the U.S. Government, works globally to support secure and transparent mineral supply chains for U.S. industry, particularly in emerging markets. He stated that the Forum focuses on rare and niche metals including copper and antimony and aims to de-risk investments from both financial and security perspectives. He reiterated the Forum’s commitment to support technology transfer, IP protection, and U.S. private-sector investor confidence.
The US delegation observed that the United States views Pakistan’s science, engineering, and mathematics talent as a competitive strength and acknowledged Pakistan’s potential to become a future hub for critical mineral development.
The Chargé d’Affaires noted the Embassy’s support for U.S. commercial engagement in Pakistan and emphasized the importance of ensuring strong investor confidence and enabling regulatory frameworks in the minerals sector.
Responding to queries, Finance Minister reaffirmed that Pakistan is working on important legal and regulatory reforms and will welcome structured proposals from the Critical Minerals Forum. “We encourage you to return with a detailed framework for collaboration. Pakistan will evaluate it with a view to facilitating responsible investment and ensuring mutual benefit,” the Minister said.
Finance Minister shared that he met multiple global financial institutions, including DFC and IFC, during recent engagements in Washington, which expressed interest in expanding investments in Pakistan. He appreciated the support of the U.S. Embassy in facilitating these engagements.
The meeting concluded with both sides expressing commitment to continued engagement and collaboration in the minerals sector, aligned with Pakistan’s economic reform agenda and shared objectives for sustainable development. Ends