Private sector being invited to invest in mines sector: minister

LAHORE : Minister of Mines and Minerals Ibrahim Hasan Murad has said the Mines Department has organised first-ever mines investment forum in Punjab.

Pakistan, especially Punjab, is undoubtedly a lucky province in terms of minerals. Department of Mines making a plan of Rs150 billion for the next three years, but we will need the help of the private sector in this regard, these views were expressed by the minister while addressing the Punjab Minerals Investment Forum.

A documentary by the Department of Mines was screened at the forum, showing the important initiatives to be taken in a year, investment opportunities and steps for the welfare of mine workers highlighted in the documentary.

Secretary Mines and Minerals Babar Aman Babar in his welcome address highlighted the aims and objectives of the forum. He said a platform is being provided to tell the private sector to invest in the mining sector because there are a lot of reserves in Punjab.

DG Mines Rana Abdul Shakoor informed the participants about the new areas regarding the auction.

CFO PMC Rana Faisal while giving a presentation on Chiniot Iron informed about its benefits. In his address to the forum, the provincial minister said that district mining and management committees were formed to identify new areas to prevent illegal commissions in the Mines and Minerals Department, while a 150 billion rupees plan also in line.

Online inspection and monitoring system has been introduced and e-tendering and e-auction launched for transparency.

He said that two zones of rock salt and 36 cents have been identified, along with them numerous steps have been taken including identification of 09 blocks of placer gold, in which reserves of 2.8 million Tola is expected.

Various proposals were presented by the business community in the forum, in which hospitals for mine workers, testing laboratories, mines and minerals bank, insurance bank, more opportunities for local traders and mining policy were emphasised. Colonel Owais from SIFC, MDP MDC Asad Ahmed and others also addressed the forum.