Khyber Pakhtunkhwa (KP) Governor Faisal Karim Kundi has invited foreign and Pakistani companies to set up joint ventures to extract the province’s minerals, a week after the federal government imposed Governor’s Rule in the province.
“Minerals are meant to be extracted,” Kundi said in a briefing. “We invite all foreign and local companies to come to Khyber Pakhtunkhwa and form joint ventures with us.”
The governor spoke to reporters in Peshawar on Saturday after attending the 59th convocation of the College of Physicians and Surgeons Pakistan (CPSP) as chief guest.
Joint Ventures and Jobs
Kundi said KP is rich in mineral resources and that the province plans to extract and sell them.
He defended the idea of partnerships with international firms. He asked why anyone would oppose a foreign company forming a joint venture with Pakistani companies and the people of KP if it brings jobs and economic support.
The governor also called for the extraction of the province’s oil and gas reserves. He said economic opportunities and access to education would make communities less vulnerable to extremist narratives.
Kundi also said restoring peace and law and order remains the top priority of the emergency council. He said heavy investment will be made in the police, and 10 to 12 terrorism-affected districts will be developed as model districts for peace and security.
Province Under Governor’s Rule
President Asif Ali Zardari authorized Governor’s Rule in KP on October 11 under Articles 232 and 234 of the Constitution, on the advice of Prime Minister Shehbaz Sharif. Kundi now heads an 11-member advisory council that runs the province’s major departments. Dr. Sarfaraz Ali Shah has been given the mines and minerals portfolio.
Kundi also criticized Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman for opposing Governor’s Rule. He said the setup had been formed without the JUI-F chief’s support and would continue to work.
Problems in the Minerals Sector
The governor’s push comes days after an Auditor General of Pakistan report flagged Rs. 16.94 billion in irregularities in KP’s Minerals Department. Illegal mining alone accounted for Rs. 8 billion in losses.
Pakistan has 92 known minerals, of which 52 are extracted commercially. The country’s mineral reserves are estimated at $8 trillion, but the sector contributes less than 3 percent to the national GDP.
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