Peshawar: The Khyber Pakhtunkhwa (KP) government has decided to establish Mines and Minerals Development Company to strengthen the minerals industry and engage private investors, according to media reports published on Wednesday (February 23).
A Mines and Minerals Development Department meeting was held, chaired by the KP Chief Minister (CM) Mahmood Khan. As per the details, a draft law has been prepared for the establishment of the Minerals Development Company. The purpose of this company is to modernize the sector and encourage private investors for joint ventures with the government to optimally exploit the potential of the minerals sector.
Moreover, CM Khan has ordered the concerned officials to speed up the process of setting up the said company. He expects revenue to increase by efficiently utilising the mineral resources of KP. The CM has directed the officials to fully utilise the minerals by encouraging private sector investment. He further added that a mechanism must be formed to promote partnership with the private sector. Reportedly, the concerned authority was asked to provide all the services under one roof including the issuance of No Objection Certificates (NOC) to private investors and industrialists. The CM was directed to make the lease process easy and transparent.
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