PESHAWAR: Khyber Pakhtunkhwa Governor Faisal Karim Kundi has invited Pakistani and foreign companies to form joint ventures to extract the province’s mineral resources, create jobs and support economic growth, just one week after the federal government imposed Governor’s Rule in the province.
Speaking to reporters in Peshawar after attending the 59th convocation of the College of Physicians and Surgeons Pakistan as chief guest, Karim Kundi said the province was ready to work with local and international companies to develop its mineral sector.
“Minerals are meant to be extracted,” Karim Kundi said, urging companies to invest in the province through joint ventures.
Karim Kundi said Khyber Pakhtunkhwa has rich mineral resources and the government plans to extract and sell them. He defended partnerships by arguing that cooperation with Pakistani businesses and local communities could create jobs and provide economic support.
The governor also called for the development of the province’s oil and gas reserves. He said better economic opportunities and access to education could help communities resist extremist narratives.
Restoring peace and maintaining law and order remain the top priorities of the advisory council, Karim Kundi said. He added that the government would invest heavily in the police and develop 10 to 12 districts affected by terrorism as model districts for peace and security.
President Asif Ali Zardari authorized Governor’s Rule in Khyber Pakhtunkhwa on Oct. 11 under Articles 232 and 234 of the Constitution, on the advice of Prime Minister Shehbaz Sharif.
Faisal Karim Kundi now leads an 11-member advisory council responsible for overseeing the province’s major departments. Dr. Sarfaraz Ali Shah has been assigned the mines and minerals portfolio.
The governor’s investment push comes days after an Auditor General of Pakistan report identified 16.94 billion rupees in irregularities in the provincial Minerals Department.
Pakistan has 92 known minerals, 52 of which are extracted commercially. The country’s mineral reserves are estimated at $8 trillion, yet the sector contributes less than 3% to the national gross domestic product.
Faisal Karim Kundi’s call for local and foreign investment comes as the province seeks to develop its mineral resources while facing concerns over illegal mining and financial irregularities.
