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LAHORE, Nov 16 (APP): Federal Tax Ombudsman (FTO) Coordinator Saif ur Rehman has said that the modern global economy is increasingly driven by minerals, technology, and resource-based innovation, and Pakistan must fully harness its vast natural wealth to ensure sustainable growth and development.
Speaking to a delegation of traders here on Sunday, he said Pakistan is richly endowed with valuable minerals, including copper, gold, coal, gypsum, chromite, and rare earth elements, but these resources remain largely underutilized due to insufficient investment, outdated mining methods, and inadequate infrastructure. He urged the government and private sector to collaborate on adopting advanced exploration technologies, improving regulatory frameworks, and ensuring transparency in the mining value chain to attract domestic and foreign investors.
He added that efficient exploitation of mineral resources could significantly boost exports, generate employment, enhance government revenues, and reduce reliance on external borrowing. Saif ur Rehman stressed that with proper planning and strategic utilization of its mineral potential, Pakistan can pave the way for a stronger, more resilient, and self-reliant economy.