Khyber Pakhtunkhwa Governor Faisal Karim Kundi has invited foreign and Pakistani companies to form joint ventures to extract the province’s minerals. The KP mineral investment pitch comes a week after the federal government imposed Governor’s Rule in the province.
“Minerals are meant to be extracted,” Kundi told reporters in Peshawar on Saturday. “We invite all foreign and local companies to come to Khyber Pakhtunkhwa and form joint ventures with us.”
The governor spoke on the sidelines of the 59th convocation of the College of Physicians and Surgeons Pakistan, where he was chief guest.
KP mineral investment push under Governor’s Rule
Kundi said the province was rich in minerals and intended to extract and sell them through agreements aimed at improving people’s economic conditions. He asked why anyone would oppose an international company entering a joint venture with Pakistani firms and the people of KP if it brought jobs and economic support.
The governor also called for the extraction of the province’s oil and gas reserves. He argued that economic opportunities and access to education would make communities less vulnerable to extremist narratives.
He said restoring peace and law and order remained the top priority of the emergency council, adding that heavy investment would be made in the police. Ten to 12 terrorism-affected districts will be developed as “model districts” for peace and security.
President Asif Ali Zardari imposed Governor’s Rule in KP on October 11 under Articles 232 and 234 of the Constitution, on the advice of Prime Minister Shehbaz Sharif. Kundi now heads an 11-member advisory council that runs the province’s major departments, with Dr Sarfaraz Ali Shah given the mines and minerals portfolio.
Kundi hits back at Fazl over opposition to emergency rule
Turning to politics, Kundi criticised JUI-F chief Maulana Fazlur Rehman for opposing Governor’s Rule. He said the setup had been formed without the JUI-F chief’s support and would continue to function successfully.
“Maulana himself used to say that no government could be formed without him, and that if one were formed, it would not be able to function. By the grace of Allah Almighty, it has been formed without you; it will function and succeed,” he said, according to Samaa TV.
In a sharper remark carried by UrduPoint, Kundi said Fazl opposed mineral extraction because he feared prosperity would mean people no longer voted for “uneducated clerics”, who, he alleged, lived in palaces while telling poor families to send their children to fight.
Kundi also criticised the previous provincial government’s performance on law and order, saying it had done zero to combat terrorism.
Mineral wealth and the corruption cloud
The pitch comes with baggage. An Auditor General report flagged Rs16.94 billion in irregularities in KP’s Minerals Department, with illegal mining alone causing Rs8 billion in losses. Transparency will decide whether the new joint-venture push creates jobs or repeats old scandals.
The scale of the prize is large. Pakistan has 92 known minerals, 52 of them extracted commercially, and the country’s reserves are estimated at $8 trillion, though the sector accounts for less than 3 per cent of GDP. Islamabad is already targeting $8 billion in mineral exports.
For background on the KP power shift, read the bureaucracy reshuffle under Governor’s Rule, the province’s action plan with 206 measures, our report on the centre’s move toward emergency in KP and Fazl’s criticism of the KP emergency policies.
Frequently asked questions
What did the KP governor announce about minerals?
Governor Faisal Karim Kundi invited foreign and local companies to form joint ventures to extract Khyber Pakhtunkhwa’s minerals, oil and gas reserves.
When was Governor’s Rule imposed in KP?
President Asif Ali Zardari imposed Governor’s Rule on October 11, 2026, under Articles 232 and 234 of the Constitution, on the advice of Prime Minister Shehbaz Sharif.
Who heads the mines and minerals portfolio in KP?
Dr Sarfaraz Ali Shah has been given the mines and minerals portfolio in the 11-member advisory council headed by the governor.
Why did Kundi criticise Fazlur Rehman?
Kundi criticised the JUI-F chief for opposing Governor’s Rule and mineral extraction, saying the provincial setup would function without his support.
