Industry status

KP Mining Sector Could Get Industry Status

PESHAWAR:

Khyber Pakhtunkhwa (KP) Chief Minister Mahmood Khan has asked the authorities to define the modalities for the declaration of the mining and minerals sector as an industry in the province.

Establishing the sector as an industry will not only help attract domestic and international investors, but will also contribute to the added value of the minerals found in the province.

The decision was made keeping in mind the enormous potential of the province’s mining and minerals sector.

He chaired a meeting of the Minerals Investment Facilitation Authority (MIFA) on Monday.

CM Minerals Advisor Arif Ahmad Zai, Chief Secretary Dr. Shehzad Bangash, Additional Chief Secretary Shahab Ali Shah, Minerals Secretary Hamayun Khan and other senior officials attended the meeting.

The Chief Minister, who also oversees the Department of Mines and Minerals, has formally approved the granting of 24 mining leases, already approved by the Mining Titles Committee (MTC), under joint ventures on net profit sharing in accordance with the Khyber Pakhtunkhwa Mines and Minerals Act 2017. .

The meeting was briefed on the increased benefits of joint ventures under the law, which include greater revenue generation instead of fees, greater investor confidence, industrial development and more job creation through value added.

The Chief Minister has ordered to take measures to ensure compliance with merit and transparency, in addition to forming a criterion in the award of leases to ensure that minerals mined in the KP are given added value in the province instead of exporting them elsewhere.

He ordered the relevant authorities to work out a mechanism in the coming months for the creation of specific zones aimed at refining the minerals to ensure maximum revenue generation.