Engineering Post Report
Mineral potential of Pakistan is widely recognized to be excellent but somehow this sector has remained inadequately developed for years together.
This can be judged by the bitter fact that this contribution to Gross Domestic Product (GDP) has remained around 2.5 per cent , unchanged for the last more than two decades.
Although many efforts have been and are still being in developing geological products, institutional, academic and research and development infrastructure, enough still remains to be done to enable the mineral sector to take full advantage of its endowment.
National Mineral Policy was formulated way back in 2013. Main objectives of this Poklicy are enhancement and sustenance of revenue flow to federal and provincial governments, creation of an investment friendly climate to enhance international competitiveness, optimization of exploration, development and exploitation of minerals and value addition of minerals.
Various concessions like tax reduction, royalty fee, workers’ welfare fund , etc have been announced under this Policy through the results are not all that productive and visible.
As for the Provincial Mineral Policies are concerned, keeping the constitutional obligations in view, Provincial Governments of the Punjab and Khyber Pukhtoonkhwah have already announced their Mineral Policies whereas Provincial Governments of Sindh and Balochistan have not yet formulated their respective Mineral Policies. No information is immediately available about the needful in this regard is being done and if so at what stage the policy formation is both in Karachi and Quetta.
Punjab Mineral Policy 2018 covers regulatory and institutional framework, provision of adequate incentives for retaining talent, attracting both local and foreign investment.
As far far Khyber Pukhtoonkhwah Mineral Policy 2014 is concerned, it seeks to ensure that mineral sector development takes due advantage of initiatives and collaboration at regional, national and international levels.
For ensuring effective implementation of this Policy, Provincial Assembly had passed “Khyber Pukhtoonkhwah Minerals Act 2017”.