ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 3rd Oct, 2020 ) :Mines and Minerals sector has the potential to spur economic growth and job creation in Balochistan and the government had established state-run minerals companies, said a senior officer of the Mines and Minerals Department on Saturday.
To general revenue from the mining sector, the government had formed the Balochistan Minerals Exploration Company (BMEC) and Balochistan Minerals Resource Company Limited (BMRL) to take mining lease in the province, he said while talking to APP.
The senior officers said the initiative would lead to increase revenue generation in the province.
“Now the companies can partner with the private sector organizations for joint venture in the mineral sector,” he continued.
The officer said the government had a plan to register them with the pakistan stock exchange.
He said the amendment was brought after all the cabinet gave green to the change in rules.
“The mining sector is one of the top sectors to boost revenue,” he remarked.
The provincial government had 90 percent of the shares in the companies, whereas only 10 percent by the Federal government, he explained.
To ensure good governance, the government had made experts from the minerals sector of its board of Directors (BoD), he went on to say while expressing optimism about better operations of the entities.
The companies were established with an aim to spur growth of mineral sector by boosting the investors’ confidence, the officer maintained.
He said the companies would ensure well-being of the dwellers of the mineral-rich districts through creation of employment opportunities in the province.
“Another objective of establishing the companies is to impart mining skills to the youth on modern lines through creation of training centers,” he noted.
