By Commerce Reporter
LAHORE – President of the Lahore Chamber of Commerce and Industry Ali Hussam Asghar has welcomed Prime Minister Muhammad Shehbaz Sharif’s vision to make Pakistan one of the world’s major economies by 2050, describing it as an important roadmap for sustainable economic growth, industrialization, investment promotion and national prosperity.
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He said that Pakistan’s vast mineral resources offer enormous opportunities to transform the national economy, attract foreign investment and strengthen the country’s industrial and export base. He particularly appreciated the Prime Minister’s commitment to end the export of raw minerals and promote domestic processing, refining and manufacturing to ensure maximum value addition within Pakistan.
Ali Hussam Asghar said that Pakistan must move beyond the conventional approach of extracting and exporting raw materials and focus on developing a complete mineral value chain. He said that establishing local processing plants, refineries and downstream manufacturing facilities would create new industrial opportunities, generate employment, reduce import dependence and enhance export earnings.
He added that the local manufacturing of copper cables, electrical conductors, refined metals, engineering products and other mineral-based goods could significantly strengthen Pakistan’s industrial capabilities. He said that projects such as Reko Diq could serve as catalysts for developing supporting industries and attracting investment in mineral processing and manufacturing.
The LCCI President also appreciated Field Marshal Asim Munir’s assurance of comprehensive security for investors in the mineral sector, stating that a secure, stable and predictable investment environment is essential for attracting international investors and establishing long-term economic partnerships. He said that investor confidence, policy consistency and effective institutional coordination would be critical to realizing Pakistan’s mineral potential.
He said that the private sector should be given a leading role in mineral exploration, processing and downstream industrial development through investor-friendly policies, simplified regulatory procedures, tax facilitation and long-term policy consistency. Public-private partnerships and joint ventures with international companies could bring advanced technology, technical expertise and substantial capital into the country.
Ali Hussam Asghar said that Pakistan needs to develop its mining sector on modern scientific and technological lines, ensuring transparency in licensing, efficient resource management and internationally recognized environmental standards. He added that the development of mineral-rich regions must be accompanied by investment in roads, energy, logistics and industrial infrastructure to convert natural resources into productive economic assets.
He said that mineral development must bring tangible benefits to local communities through employment generation, technical training, infrastructure development and improved living standards. Sustainable and inclusive development, he said, should remain an integral part of the country’s mineral investment strategy.
The LCCI President said that the Prime Minister’s vision of making Pakistan a major global economy by 2050 requires a comprehensive strategy focused on export-led growth, industrial expansion, investment facilitation, technological advancement and economic diversification. Pakistan must strengthen its manufacturing base and enhance its competitiveness in international markets rather than relying on the export of raw materials.
He said that the coordinated efforts of the government, armed forces and business community could translate Pakistan’s enormous natural and economic potential into tangible results. The Pakistan Minerals Investment Forum 2026, he said, provides an important platform for developing international partnerships and attracting investment into the country’s mineral and mining sectors.
He expressed confidence that the effective utilization of Pakistan’s mineral wealth, combined with value addition, local manufacturing and a business-friendly investment environment, could become a major driver of foreign investment, employment generation, foreign exchange earnings and long-term economic stability.
The LCCI President said that the Lahore Chamber of Commerce and Industry stands ready to work with the government and international investors to promote industrialization, investment, exports and sustainable economic development, contributing towards the realization of Pakistan’s vision for 2050.
