National and Provincial Mineral Policies

National and Provincial Mineral Policies

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”.