Despite Pakistan’s abundant mineral resources and two successive mineral policies, the sector’s contribution to GDP remains small. Evaluation of the policies and administration framework for management of the sector reveals that among the factors plaguing are; inadequate monitoring and evaluation, lack of community base resources management programmes, insufficient tax compliance, political instability, weather related problems and insecurity within mineral rich areas. However, there is still room for improved technical and economic analysis of the sector as well as tremendous opportunities for Joint Venture Agreement (JVA) with other emerging economies and international private partners. New discoveries of precious metals and rare earth minerals and an expansion of technical information on reserves provide sufficient grounds for modification of the current policy and subsequent expansion of the industry. There is still time to realize the national development benefits from the sector.