Pakistan on Tuesday signed an agreement with the World Bank for grant of $750,000 under Policy and Human Resource Development (PHRD) initiative. The grant will essentially be utilised for the preparation of strategic "Social and Environmental Assessment (SESA)" for the project and consulting services to shape up project component and starting up management structure.
The proposed Mining Technical Assistance Project (MTAP) has an overarching object to invest in a package of initiatives designed to increase investor interest and improve the regulatory environment within the mining sector.
The major activities of the project shall be in Balochistan. The proposed MTAP will focus on creating modern administrative systems based on access, and transferability of rights, security of tenure, operating rights and obligations, in particular, the modernisation of mineral law, regulations, and fiscal regime; incorporation of environmental controls and social mitigation and mandates and functions of mineral institutions and agencies.
The project will assist the governments of Pakistan and Balochistan in implementing a strategy to accelerate sustainable mineral sector development by strengthening governance, transparency, and capacity in the management of mineral resources.
In addition to policy, regulatory and fiscal reform supported by capacity building, particular emphasis is to be laid on the highly sensitive issue of mining and community development, and equitable sharing of mineral resource benefits.
The grant agreement was signed by M. Akram Malik, Secretary Economic Affairs Division and Yousapha B. Crookes of the World Bank.
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