Engineering Post Report
Pakistan is endowed with huge reserves of minerals covering an area of 600000 square kilometer due to its unique geological condition. Fortunately, Pakistan have been blessed with all type of rock from pre-Cambrian to recent with exceptional geological and geomorphologic features.
There are as many as 92 known minerals out of which 52 are commercially exploited throughout the country. These include coal, copper, gold, chromite, mineral salt and several other minerals. Despite of all these huge resources , the mineral sector is showing slow performance and its contribution to the Gross Domestic Product (GDP) remained at just 2.38 per cent during FY 2021.
The federal government is well aware of this hidden treasure and taking all cognizant measures in this regard which included:
An investment facilitation project “ Establishment of National Mineral Data Centre” has since been launched at the federal level with Rs 295 million cost for maintaining the data repository.
Another initiative has been taken called “Legal Consultancy Services” for drafting of model mineral agreements and formulation of uniform regulatory regime at a cost of Rs 100 million for introducing an internationally competitive framework.
Action is also underway for revamping of Pakistan Mineral Development Corporation (PMDC) and restructuring of Geological Survey of Pakistan (GSP).
Process of the stakeholders consultation has also been initiated for policy formulation for promoting the use of indigenous coal resources for synthesis of gas and liquid fuels.
Federal government has also extended services for special development packages to the provincial mineral sectors.
Continued support is being maintained and extended to facilitate smooth operation of mineral sector projects: Saindak Copper-Gold, Duddar Lead-Zinc, Barite-Lead Zinc , Chiniot Iron Ore and mining projects of rock salt and coal etc.
Although efforts are underway to develop the mineral sector but enough remains to be done to enhance the sector to fully exploit the natural resources. This sector is lagging behind despite its huge potential, due to interconnected and overlapping issues like poor regulatory framework, insufficient infrastructure at mines sites, outdated technology installed, semi-skilled labour, low financial support and lack of marketing.
There is a huge potential in Pakistani mineral sector and establishment of Balochistan Mineral Exploration Company is indeed a great step in this development ladder and an encouraging sign for global mining players to invest in the Mineral Sector of Pakistan.
Extraction of principal minerals in the country include Coal, Natural Gas, Crude Oil, Chromite, Magnesite, Dolomite, Gypsum, Lime Stone, Rock Salt, Sulphur, Barytes, Iron Ore, Soap Stone, Marble, Bauxite, Quartz among several others.