The minerals sector has enormous potential to support global economic growth: PM – Business

Published on October 11, 2021 19:26

The Prime Minister ordered that the goals and targets of the mining development framework

ISLAMABAD (Dunya News) – Prime Minister Imran Khan said on Monday that being rich with enormous potential, the mining sector offers good returns on investment and could also contribute to the country’s overall economic growth.

The prime minister, chairing a high-level meeting on the mining development framework here, stressed that coordinated efforts between the federation and the provinces are needed to accelerate mining development.

The prime minister ordered that a focal person be appointed at the earliest to serve as a bridge between the federal and provincial governments and oversee the implementation of the minerals development framework.

He said international models should be explored for lessons and capacity building of indigenous human resources to be used for mineral development.

The Prime Minister ordered that the goals and targets of the mining development framework be achieved within the stipulated time frame.

Earlier, the Federal Petroleum Secretary informed the meeting of the strategic plan for mining development.

He was informed that currently the minerals sector contributes less than 1% of GDP and that the implementation of the strategic plan will increase the share of minerals to 10% of GDP over the next 15 years.

The plan is to harmonize federal and provincial efforts, technical awareness, database development, tax incentives, indigenous human resource training and the legal framework. The strategic plan is then categorized into short, medium and long term objectives.

The meeting brought together Federal Ministers Shaukat Fayaz Tarin, Muhammad Hammad Azhar, Asad Umar, Trade Advisor Abdul Razaq Dawood, SAPM Dr. Shahbaz Gill, DG FWO and senior federal and provincial officials.

Leave a Reply

Your email address will not be published.