Khyber Pakhtunkhwa (KP) Governor Faisal Karim Kundi has invited local and foreign companies to invest in the province’s mineral sector through joint ventures, days after Governor’s Rule was imposed in KP.
“Minerals are meant to be extracted,” Kundi said on Saturday. He urged companies to partner with the provincial government to develop the province’s mineral resources.
He made the remarks while speaking to reporters in Peshawar after attending the 59th convocation of the College of Physicians and Surgeons Pakistan (CPSP) as chief guest.
KP Seeks Investment in Minerals, Oil and Gas
Kundi said KP has substantial mineral resources that the province wants to extract and sell. He questioned opposition to foreign investment through partnerships with Pakistani companies and local communities, arguing that such ventures could create jobs and support economic growth.
He also called for the development of the province’s oil and gas reserves. According to the governor, better economic opportunities and access to education could help communities resist extremist narratives.
Kundi said restoring peace and maintaining law and order remain the emergency council’s top priorities. He added that the government plans to invest heavily in the police and develop 10 to 12 districts affected by terrorism as model districts for peace and security.
Governor’s Rule in KP
President Asif Ali Zardari authorized Governor’s Rule in KP on October 11 under Articles 232 and 234 of the Constitution, following advice from Prime Minister Shehbaz Sharif.
Kundi now heads an 11-member advisory council overseeing the province’s major departments. Dr. Sarfaraz Ali Shah has been assigned the mines and minerals portfolio.
The governor also criticized Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman for opposing Governor’s Rule. Kundi said the administrative setup was established without Fazlur Rehman’s support and would continue its work.
Audit Flags Rs. 16.94 Billion in Minerals Department Irregularities
The governor’s investment push comes days after an Auditor General of Pakistan report identified Rs. 16.94 billion in irregularities in KP’s Minerals Department. Illegal mining alone was linked to losses of Rs. 8 billion.
Pakistan has 92 known minerals, of which 52 are commercially extracted. The country’s mineral reserves are estimated at $8 trillion, but the sector contributes less than 3 percent to national gross domestic product (GDP).
