Balochistan rakes in Rs7.2 billion from mineral sector

Improved royalty system enhances investment

QUETTA:

The Balochistan government has made significant progress in the minerals sector, as evidenced by the collection of Rs7.2 billion in revenue during the last financial year. This achievement has been attributed to the implementation of several business-friendly initiatives aimed at boosting investor confidence and attracting more investments into the minerals sector. To ensure transparency in revenue collection management, the government has taken steps towards digitizing the royalty system, an official of the provincial government said.

By launching a project for the digitization of the royalty system, the department of mines and minerals seeks to bring greater transparency to the process. This move will not only improve the efficiency of revenue collection but also enhance accountability. Another notable development, the official said, is the installation of computerized weighing scales and the establishment of additional mining check posts in the province. These measures are crucial for ensuring accurate measurement and monitoring of minerals extracted from mining sites. Furthermore, the government has upgraded the royalty system to align it with modern technology, making the process more streamlined and efficient.

Recognizing the need for adequate infrastructure and facilities, the government is also working on establishing a mineral testing laboratory in partnership with the private sector. This laboratory will cater to the province’s rich potential of mineral resources, providing investors with reliable and efficient testing services. Currently, the province lacks testing laboratories, and this initiative aims to address that gap and attract more investors. The government has also prioritized the automation of licensing regimes, royalty management, and onsite inspections.