Published on: August 29, 2025 1:37 AM
Federal Minister for Petroleum Ali Pervaiz Malik on Thursday welcomed the Japan Bank for International Cooperation (JBIC) for joining the lender group of the Reqo Diq Project, terming it a pivotal milestone for the venture.
He expressed these views during a meeting with a JBIC delegation led by Taro Kato, Director General of Mining and Metals Finance, said a news release.
“This project is not just an economic venture; it will set the standard for responsible and sustainable mining in Pakistan for decades to come,” the minister said.
The meeting discussed strengthening bilateral cooperation in Pakistan’s mining and energy sectors, with a special focus on the landmark Reqo Diq project.
He added, “We are deeply grateful for the Japanese interest and confidence in investing in Pakistan’s economic potential.”
Highlighting progress in the sector, Ali Pervaiz Malik said, “The mining sector has made significant strides, and we are committed to making it a cornerstone of our economy.” He assured the delegation of Pakistan’s unconditional support, noting: “The government, at both federal and provincial levels, will ensure a seamless and facilitative environment for major international investments.”
Outlining the government’s broader strategy, the minister said, “We are engaged with all countries and taking concrete steps to harmonise our mining framework. Our goal is to ease the investment process and make Pakistan a premier destination for international capital and expertise.”
Taro Kato acknowledged Pakistan’s improving investment climate, stating, “There is increased interest from Japanese investors in Pakistan’s markets. JBIC is keen to foster this positive momentum and deepen cooperation, not only in mining but across the overall energy sector.”
Echoing these views, Kenichiro Kitamura, JBIC’s Chief Representative for the Middle East, emphasised the value of high-level engagements. “Visits and dialogues like these are invaluable.
They directly improve the perspective of Japanese investors towards Pakistan, building trust and paving the way for mutually beneficial partnerships,” he remarked. The meeting concluded with both sides reaffirming their resolve to strengthen collaboration by leveraging Japanese financial and technological expertise to unlock Pakistan’s natural resources responsibly and profitably.
