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KARACHI: Members of a Pakistani advisory committee on Monday met with telecom industry stakeholders and a global telecom body to discuss a roadmap for spectrum enhancement in the South Asian country, Pakistan’s Finance Division said.

The meeting was presided over by Finance Minister Muhammad Aurangzeb and attended by federal ministers, senior officials of relevant ministries and regulators, representatives of leading mobile operators and Julian Gorman, head of Asia Pacific at GSMA.

The GSMA is a global organization that aims to utilize the mobile ecosystem to discover, develop and deliver innovation that is foundational to positive business environments and societal change, unlocking the full power of connectivity.

During Monday’s meeting, participants from the telecom industry and GSMA shared perspectives on advancing Pakistan’s digital transformation through an effective spectrum policy, according to the Finance Division.

“Discussions underscored the importance of spectrum in enabling growth of IT and telecom services, supporting exports, jobs, and wider digital adoption,” it said.

“Senator Muhammad Aurangzeb welcomed the insights of the industry and GSMA, appreciating the value of global best practices for Pakistan’s spectrum roadmap.”

The development comes amid Pakistan’s efforts to accelerate work on spectrum auction for expanding the telecommunication network and introducing 5G technology by Dec. this year as Islamabad eyes digital transformation in the South Asian country.

Pakistan lost nearly $1 billion in foreign direct investment (FDI) in the telecom sector in just one year, with inflows plunging from $1.67 billion in 2021–22 to $750 million in 2022–23, according to an Asian Development Bank (ADB) report issued in July.

The decline reflected growing unease among investors about Pakistan’s digital infrastructure, wherein fixed broadband penetration was just 1.3 percent, and only 14.8 percent of cell towers were connected to fiber, making it difficult to meet rising data demands or prepare for 5G deployment.

Speaking at Monday’s meeting, Finance Minister Aurangzeb emphasized timely progress on the spectrum process to capture emerging opportunities for Pakistan’s economy and society, according to the Finance Division.

IT and Telecom Minister Shaza Fatima Khawaja and Law Minister Azam Nazeer Tarar reaffirmed the government’s focus on enabling a “digitally connected Pakistan with inclusive, affordable and high-quality connectivity.”

ISLAMABAD: Pakistan and the United States (US) have signed an agreement on critical minerals, the US embassy in Islamabad said, amid deepening cooperation between the two countries.

The agreement was signed between American firm US Strategic Metals (USSM) and Pakistan’s Frontier Works Organization (FWO) at Prime Minister’s House in Islamabad, according to the US embassy in Islamabad.

Missouri-based USSM produces and recycles critical minerals, which Washington says are essential in a variety of technologies related to advanced manufacturing and energy production.

While the embassy did not divulge specific details of the agreement, its Chargé d’Affaires (CDA) Natalie Baker called the signing yet another example of the strength of the US-Pakistan bilateral relationship that will “benefit both countries.”

“The Trump administration has made the forging of such deals a key priority given the importance of critical mineral resources to American security and prosperity,” Baker said in a statement issued by the US embassy.

“We look forward to seeing future agreements between US companies and their counterparts in the critical minerals and mining sector in Pakistan.”

Critical minerals are a select group of non-fuel minerals and metals essential for modern manufacturing, technological advancements, and the transition to clean energy technologies like solar panels and electric vehicles, but are subject to supply chain vulnerabilities.

Pakistan is rich in gold, copper and lithium reserves as well as other minerals, yet its mineral sector contributes only 3.2 percent to the country’s GDP and 0.1 percent to global exports, according to official figures.

Last month, Pakistani and the US officials discussed ways to strengthen Pakistan’s railways and infrastructure to support mineral extraction and transportation, according to the US embassy. US Secretary of State Marco Rubio said the same month Washington looked forward to exploring cooperation with Pakistan in critical minerals and hydrocarbons.

In July, Pakistan also signed a trade deal with the US after which Washington slashed its tariff on Pakistani goods from 29 percent to 19 percent, while Trump imposed double tariffs on Islamabad’s arch-rival India.

Islamabad is currently aiming to tap into its underutilized mineral potential by attracting investment from global mining companies.

In April this year, Pakistan hosted an international minerals summit in Islamabad where top companies and government officials from the US, ��������, China, Turkiye, the UK, Azerbaijan, and other nations attended. The summit aimed to attract foreign investment in the country’s mining sector.