Islamabad: Federal government has put Pakistan Mineral Development Corporation PMDC on privatisation list despite of its contribution of billion of rupees to the National exchequer.
The move has sparked concern among employees and raised questions about the rationale behind privatising a profitable public-sector enterprise.
According to the documents, PMDC has recorded a 53% increase in annual revenue over the past four years. In the 2024-25 fiscal year, the corporation achieved its highest-ever revenue, reaching 5.27 billion rupees.
Moreover, PMDC has transferred 10.4 billion rupees to the national treasury as dividends over the last five years. In 2024-25 alone, the company deposited 1 billion rupees into government accounts, the documents show.
At the same time, the corporation has continued to expand its operational footprint, signalling sustained commercial activity rather than financial distress.
In addition, PMDC currently has 17 major development projects at various stages of completion. These projects are aimed at enhancing mineral extraction, processing capacity, and export potential.
Notably, PMDC has begun directly exporting pink salt to the United States, marking a significant step in expanding Pakistan’s mineral exports. The corporation has finalised a $200 million agreement for a pink rock salt grinding and packaging plant.
However, the inclusion of PMDC on the privatization list has triggered anxiety among its workforce. Employees have expressed concern about job security and the future direction of ongoing projects, particularly as several initiatives are nearing completion.
Despite the corporation’s financial performance and active investment pipeline, the government has not publicly detailed the criteria used to justify PMDC’s inclusion in the privatisation program.
As a result, the decision has intensified debate over the broader privatization strategy and whether profitable state-owned enterprises should be divested at a time when they are delivering steady revenue and expanding exports.
Despite holding at least 52 commercially exploitable minerals across some 600,000 square kilometres including world-class copper and gold reserves at Reko Diq, massive coal deposits in Thar, extensive salt, limestone and gypsum resources and emerging rare earth prospects such as Lithium.
A state-led expansion, backed by local investment or public-private partnership with modern processing, equipment and machinery could generate long-term income capable of funding public expenditures and easing fiscal pressure. However, the government appears to be betting that privatisation will accelerate investment and efficiency, even as critics argue that relinquishing control at this stage risks undervaluing assets that could otherwise anchor Pakistan’s industrial and export future.
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