ISLAMABAD: A memorandum of intent (MoI) has been signed to chisel Pakistan’s outdated marble and granite sector into a modern industry to claim its fair share in global exports, with the help of Italy’s most prestigious stone machinery manufacturers association, a statement said on Monday.
Currently, Pakistan was the sixth largest extractor of marble and granite in the world and its stone reserves were estimated at around 297 billion tons, but despite huge deposits and long-term export potential, Pakistan’s share in the global market was merely two. Moreover, in a $ 62 billion global stone market the country’s contribution was below one percent, which is almost neglibible.
The statement said Pakistan Stone Development Company (PASDEC) along with Ministry of Industries and Production signed the agreement with Confindustria Marmomacchine -Marble Association of Italy.
Commenting on the development, Zahid Maqsood Shaikh, CEO PASDEC. said a technical group from Italy would soon be visiting Pakistan to evaluate and set time lines for execution of the project.
“More of such MoIs will [also] be signed with other stone producing countries going forward to further upgrade mining and processing methodology in the Country,” said Shaikh. The statement said under the MoI, the Italian association would provide technical expertise and support for the transfer of know-how, technical and scientific education for operators and work involving international communication and marketing.
“These objectives will be achieved through a technical–scientific and international trade centre to be established in Pakistan for which the Italian trade body and PASDEC will contribute an equal amount of 400,000 euros each,” the statement said.
The statement added that the centre would be equipped with the latest machinery and equipment for the human resource and skill development in the field of marble and granite of the country at Risalpur, marble city of Pakistan.
It said the MOI had already been approved by the federal cabinet in its meeting held on 3rd January, 2018. “The project is expected to be completed within two years and it will also serve as an export promotion center for the stones being extracted in Pakistan,” the statement said.