JBIC team meets Petroleum Minister

ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik, held a meeting with a delegation from the Japan Bank for International Cooperation (JBIC), led by Mr. Taro Kato, Director General of Mining and Metals Finance at JBIC. The meeting focused on strengthening bilateral cooperation in Pakistan’s mining and energy sectors, with particular emphasis on the landmark Reqo Diq project.
Minister expressed profound gratitude for Japan’s interest in Pakistan. “We are deeply grateful for the Japanese interest and confidence in investing in Pakistan’s economic potential,” the Minister stated. “The mining sector has made great strides in progress and development, and we are committed to making it a cornerstone of our economy.”
Highlighting the government’s full commitment, Minister Ali Pervaiz Malik assured the delegation of Pakistan’s “unconditional support for the Project across all levels of government, both federal and provincial.” This unified approach ensures a seamless and facilitative environment for major international investments.
The Minister welcomed JBIC’s joining the lender group for the Reqo Diq Project, marking a pivotal moment for the venture. He emphasized that “this project is not just an economic venture; it will set the standard for responsible and sustainable mining in Pakistan for decades to come.”
Malik further outlined the government’s broader strategy, noting,”We are engaged with all countries and are taking concrete steps for the harmonization of our mining framework. Our goal is to ease the investment process, ensuring Pakistan is a premier destination for international capital and expertise.”
Mr. Taro Kato reciprocated the positive sentiments, acknowledging the improved investment climate. “There is increased interest from Japanese investors in Pakistan’s markets,” said Mr. Kato. “JBIC is keen to foster this positive momentum and deepen our cooperation, not only in mining but across the overall energy sector.”
Echoing this view, Mr. Kenichiro Kitamura, Chief Representative for the Middle East at JBIC, emphasized the importance of high-level engagements. “Visits and dialogues like these are invaluable. They directly help improve the perspective of Japanese investors towards Pakistan, building trust and paving the way for mutually beneficial partnerships,” Mr. Kitamura remarked.
The meeting concluded with a shared resolve to continue close collaboration, leveraging Japanese financial and technological expertise to unlock the potential of Pakistan’s natural resources responsibly and profitably.