Islamabad: The Balochistan government recently amended its laws regarding state-owned mineral firms operating within the province — with the initiative aimed at making these companies more profitable, according to a news source published on September 14. The government also plans to introduce additional changes to these regulations in the future.
According to a senior official of the Mines and Minerals Department, the amendments will allow the Balochistan Minerals Exploration Company (BMEC) and the Balochistan Minerals Resource Company Limited (BMRL) to hold mining leases in the province. The changes in the laws also provide legal cover to both firms.
The official further hoped that this would help increase the revenue for these companies, as they are now allowed to partner with private organisations on joint ventures in the mineral sector.
Reportedly, the provincial government is also planning on listing the aforementioned mineral companies with the Pakistan Stock Exchange. Currently, the Balochistan government owns 90% of the shares in these companies, while the remaining are owned by the federal government.
