Pakistan's Army Chief Field Marshal Asim Munir has announced an ambitious vision to lead the country out of its long-standing economic travail, staking his bet on the untapped riches of rare earth minerals. Discussing the strategic importance of the Reko Diq mining venture in Balochistan, Munir asserted that Pakistan has a "rare earth treasure" that can change its financial fate.

In accordance with a Jang column, Munir asserted, "With this treasure, Pakistan's debt will also decrease, and Pakistan will soon join the most prosperous societies." His statement comes after Islamabad's oil collaboration agreement with the United States, which analysts maintain has provided Munir with a forum to present a confident image of Pakistan's economic recovery.

Reko Diq And $2 Billion Promise

Munir was talking about the Reko Diq project, which is one of the world's largest unexploited copper and gold resources. He pointed out that the project can be a cornerstone of the economic turnaround of Pakistan. He also forecast that starting from next year, the project will bring at least USD 2 billion annually in net profit, as revenues are expected to increase progressively over the next few years.

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The project, which is located in Balochistan's fertile but volatile province, has been stalled for decades due to court battles and security issues. But Munir's statement reveals that Islamabad is planning to turn it into a strategic revenue source when the country is facing mounting debt, falling foreign reserves, and repeated IMF bailouts.

Balancing Between Washington And Beijing

In a column cited by Daily Jung, he allegedly stressed that Pakistan will not tilt towards just one power. "We will not sacrifice one friend for the other," Munir was cited to have stated, suggesting Islamabad wants to maintain equilibrium between the United States and China.

This balancing act is triggered by major powers scrambling to lock up access to rare earth minerals, important for electric vehicles, defence technology, and electronics. China controls most mining and essentially all refining capacity. Over the past year, Beijing also tightened export controls, putting even more pressure on countries like India and the US to diversify supply chains.

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During a reception in Brussels, Munir went even further, emphasising his persona as a soldier and not a political one. "God has appointed me defender of the country. I do not want any other position," he stated, going on to say, "I am a soldier and my biggest wish is martyrdom.