K-P to establish mineral development company

The Khyber-Pakhtunkhwa (K-P) government has decided to set up Minerals Development Company in order to develop the minerals sector on modern lines and encourage the private sector to enter into joint ventures with the government. A draft law has been prepared for the purpose which would be enacted after approval from the cabinet.

This was revealed at a meeting of K-P Mines and Minerals Development Department held on Tuesday with Chief Minister Mahmood Khan in the chair. Special Assistant to CM on Mines & Minerals Arif Ahmadzai, Chief Secretary Dr Shehzad Bangash, Additional Chief Secretary Shahab Ali Shah, Principal Secretary to CM Amjad Ali Khan, administrative secretaries and other officials attended the meeting.

The chief minister ordered fast-tracking of work on the proposed Mines and Minerals Development Company and said that revenue of the province can be increased significantly by effectively utilizing the mineral resources. He also directed steps to fully utilize the precious minerals in the province by encouraging private sector investment, adding that a mechanism should also be devised to promote partnership with private sector for the purpose.

He also urged steps to provide all the services including issuance of NoCs to industrialists and private investors under a single roof. He also called for fixing realistic timelines for the issuance of NoCs from all departments. He also ordered streamlining the lease process to make it easier and more transparent, adding that in case of non- commencement of physical work by the lease holders within the stipulated timelines, the leases would be cancelled as per the prevailing rules. Earlier, briefing about the overall performance of the department, it was revealed that all the official affairs of administrative department had been made paperless.