Mahmood Khan, the chief minister of Khyber Pakhtunkhwa (K-P), has given the authorities instructions to develop procedures for designating the mining and minerals sector as an industry in the province.
The development of the sector into the industry would aid in the productivity improvement of the minerals found in the province as well as in luring domestic and foreign investors. The huge potential of the province’s mining and minerals industry was taken into consideration while making the choice. On Monday, he was presiding?over a MIFA (Minerals Investment Facilitation Authority) meeting.
Adviser to CM on Minerals Arif Ahmad Zai, Chief Secretary Dr Shehzad Bangash, Additional Chief Secretary Shahab Ali Shah, Secretary Minerals Hamayun Khan and other high-ranking officials attended the meeting.
The Khyber Pakhtunkhwa Mines and Minerals Act of 2017 states that joint ventures must share net profits, and the chief minister, who is also in charge of the Mines and Minerals Department, formally approved the granting of 24 mining leases that had already been approved by the Minerals Titles Committee (MTC).
The meeting was briefed that the department’s whole operation had been digitalized, and more than 21,000 job possibilities had already been generated. It was informed that the Khyber Pakhtunkhwa Minerals Policy, 2022 draught had been created and that the law department had reviewed the mineral auction procedures.
The increased advantages of joint ventures under the act were discussed during the conference. These advantages include increased income generation in place of fees, increased investor confidence, industrial expansion, and increased job creation owing to value addition.
In addition to creating a criterion in the lease award process to guarantee that minerals extracted in K-P receive value addition within the province rather than being exported abroad, the chief minister?asked to take action to ensure that merit and transparency are preserved.
He gave the relevant authorities the order to develop a plan for the creation of mineral-refining zones over the next few months in order to maximise income generation.