Gilgit, 24 April 2026(Kamran Raja): In a significant boost to regional economic prospects, Power Construction Corporation of China (PowerChina) has announced an initial investment of $100 million in the mining sector of Gilgit-Baltistan, aiming to tap into the region’s vast mineral resources.
The development marks a major step toward unlocking the area’s economic potential and is being widely linked to the facilitative efforts of Raja Asif Yaqoob, a prominent figure in Pakistan’s private mining industry known for promoting foreign investment. His engagement played a pivotal role in connecting international stakeholders with opportunities in the region.
The announcement came during a high-level meeting attended by senior officials of the Gilgit-Baltistan government, including the Minister for Minerals and other key representatives. Speaking on the occasion, Hu Yang, Vice President of PowerChina, said the decision reflects strong confidence in the region’s mineral potential and was made possible through effective coordination led by Raja Asif Yaqoob.
He noted that the initial phase of the investment will focus on mineral resource development, improving operational capacity, and generating employment opportunities, while contributing to overall economic growth.
Welcoming the move, Gilgit-Baltistan’s Minister for Minerals, Syed Surooshah, appreciated the efforts of both Raja Asif Yaqoob and the Chinese company. He reaffirmed the government’s commitment to providing full facilitation, institutional support, and comprehensive security to ensure smooth execution of the project.
Economic analysts believe the investment will open new avenues for the mining sector in Gilgit-Baltistan and further strengthen economic ties between Pakistan and China, particularly within the framework of ongoing regional development initiatives.