Pakistan to join major global economies before 2050, says PM

Prime Minister Shehbaz Sharif has expressed confidence that Pakistan could become one of the world’s major economies before 2050, highlighting the country’s mineral wealth as a key driver of economic growth and industrial development.

Addressing the Pakistan Minerals Investment Forum 2026 on Friday, the prime minister said international projections, including one by Goldman Sachs, suggested that Pakistan could become the world’s sixth-largest economy by 2075.

He said the country was entering a new phase of economic growth and transformation, supported by renewed confidence and efforts to attract investment.

Shehbaz stressed that Pakistan must move away from exporting raw minerals and focus on using its natural resources to strengthen domestic industries. He said the government wanted to develop local processing, refining and manufacturing facilities so that the country could benefit from the full value of its mineral wealth.

“The day is not far when Pakistan will utilise its mineral resources for the country’s downstream industries,” he said, adding that the objective was not simply to extract minerals and sell them abroad.

Referring to the Reko Diq project, the prime minister described it as one of the world’s largest undeveloped copper and gold deposits. He said the project, which had remained stalled for around two decades, was now moving towards practical completion and the operational phase.

He also highlighted the establishment of the National Minerals Data Centre and the digitisation of geological records, saying these initiatives would provide investors with reliable information about the country’s mineral resources.

The prime minister said federal and provincial governments would work together to develop the mining sector and create an environment conducive to long-term investment.

He assured business representatives that the government would provide all possible support to investors and protect their interests. He said the security of investors, workers, assets and supply routes remained a government responsibility.

Shehbaz also emphasised the importance of cooperation with local communities, saying mineral projects could not succeed without their trust and participation. He added that reliable electricity, water supplies and communications infrastructure were essential for attracting investment.

The prime minister further pledged to speed up official procedures and ensure that files related to investment projects were processed without unnecessary delays.

He described Pakistan’s young population as a major national asset, saying the country’s educated, talented and determined youth could play an important role in its economic transformation.

Speaking at the forum, Chief of Defence Forces and Chief of Army Staff Field Marshal Syed Asim Munir said Pakistan was working to establish itself as a competitive destination for long-term mineral investment.

He said the government was taking all possible measures to secure the entire mining ecosystem, including mines, workers, investments, industrial facilities and related infrastructure.

Munir described the development of Pakistan’s mineral resources as a shared national objective. He stressed that the country needed to move beyond exporting raw materials and establish a complete industrial value chain covering processing, refining and manufacturing.

He said Pakistan wanted to build long-term partnerships that would generate sustainable economic benefits for the country and its international partners.

The field marshal also emphasised that mineral development must improve the lives of people living in resource-rich areas. He said local communities should receive tangible benefits from projects operating in their regions.

Highlighting the country’s human potential, Munir said Pakistan’s hardworking and determined population had the ability to turn available opportunities into economic achievements.

He stressed that the country needed to move from potential to productivity, from promises to action, and from raw mineral exports towards value-added industrial growth.

The forum highlighted the government’s ambition to make mineral development a major contributor to economic expansion, industrialisation and foreign investment.