Pakistan Sixth Largest Economy by 2050, Says Shehbaz
Prime Minister Shehbaz Sharif said on Friday that Pakistan can become the world’s sixth largest economy before 2050, beating a Goldman Sachs projection that put the country on that path by 2075.
Addressing the Pakistan Minerals Investment Forum 2026 in Islamabad, the prime minister said he wanted to bring the timeline forward by more than 25 years. “Instead of 2075, InshaAllah, it will be earlier than 2050,” he said.
He admitted the journey would be difficult and long. “You should rest a bit but never quit. That’s our philosophy and that will make Pakistan a great country in the economy of nations,” he said.
The Pakistan sixth largest economy target now sits at the centre of the government’s pitch to mining investors, who gathered in Islamabad for the two-day forum.
Mine, process and manufacture in Pakistan
Shehbaz told investors that Pakistan should stop exporting its minerals in raw form. “Mine in Pakistan, process in Pakistan, manufacture in Pakistan and then export to the rest of the world,” he said, calling the approach the government’s philosophy and mission.
He said Pakistan wanted downstream industries, refineries, smelters and cable and conductor factories, so mineral wealth created more value at home. He added that responsible mining and environmental protection must go hand in hand, with modern technology used to safeguard water resources and workers’ health and safety.
The prime minister said mineral projects should bring tangible benefits to nearby communities through jobs, local businesses, schools, healthcare and clean drinking water, with local people as the main beneficiaries.
Reko Diq production expected in 2028
Shehbaz pointed to the Reko Diq project on the Tethyan Copper Belt, which he described as one of the world’s largest untapped copper and gold deposits. He said production was expected to begin in 2028, after the project remained stalled for two decades.
He thanked Barrick for keeping its confidence in Pakistan and noted that its chairman, John Thornton, had shared the Goldman Sachs assessment that Pakistan could become the world’s sixth largest economy by 2075.
Security and clear terms for investors
Chief of Defence Forces and Chief of Army Staff Field Marshal Asim Munir also addressed the forum and pledged full security for the mining sector. He said every possible measure was being taken to protect mines, miners, investments and the people linked to the sector.
Petroleum Minister Ali Pervaiz Malik said Pakistan would offer investors clear and uniform fiscal terms, without case-by-case negotiations. “Our aim is straightforward. We want clear fiscal terms available to every responsible company without the need to negotiate special arrangements on a case-to-case basis,” he said.
Malik said more than 40 mineral exploration licences had recently been granted in Balochistan’s Chagai and Khuzdar districts. He said the government was digitising geological records through a National Mineral Data Cell so investors could assess resources before committing funds.
Shehbaz offered to intervene personally if bureaucratic delays held up a project. “If any file gets stuck due to bureaucratic delays or cumbersome procedures, bring it straight to me. I will personally ensure that it moves with lightning speed,” he said.
Why the sixth largest economy pledge matters
The pledge gives the minerals forum a headline target beyond the deals and licences announced at the event. The forum opened with Pakistan seeking investment for its mineral wealth, and the government has framed minerals as a strategic resource for the economy.
Recent discoveries back the pitch. Mari Energies has reported a copper and gold discovery in Chagai, while National Resources Limited found copper and gold at eight new sites in the same district. Provinces have also offered security cover for mineral investors.
The test will be delivery. Reko Diq must move from promise to production by 2028, the fiscal terms must stay uniform in practice, and the processing plants the prime minister described must be built. Gold prices have meanwhile fallen sharply in Pakistan, a reminder that commodity markets can move against producers as well as for them.
Frequently asked questions
What did Shehbaz Sharif say about Pakistan’s economy?
He said Pakistan can become the world’s sixth largest economy before 2050, earlier than the Goldman Sachs projection of 2075.
What is the Pakistan Minerals Investment Forum?
It is a two-day forum in Islamabad where the government presents mining opportunities to local and foreign investors, including the Reko Diq project and new exploration licences.
When will Reko Diq start production?
The prime minister said production is expected to begin in 2028. The project remained stalled for two decades before moving towards execution.
What did the government promise investors?
Clear and uniform fiscal terms, full security for mines and miners, faster licence decisions, and the prime minister’s help if files get stuck.
