Attracting foreign investment: mineral sector devising comprehensive strategy

Mineral sector is devising a comprehensive strategy to place focus on special generation of basic geological data and dissemination of project profiles to attract international investment particularly in metallic minerals and coal related energy products during the current fiscal year.
According to official sources, the accelerated geological mapping and geochemical exploration of high mineral potential areas of Pakistan would assist in understanding the genesis and geometry of these deposits for their subsequent development. The revised Mineral Policy, to be announced would attract local and foreign investment and accelerate exploration and research activities in the country.
Authorities also confirmed that an allocation of Rs 326 millions has been earmarked for the Minerals (non-fuel) sector. Major projects to be carried out during 2007-08 includes Ground Follow-up Aeromagnetic Anomalies in Chagai District, Balochistan costing Rs 35 million.
The resources said for Up-gradation/Strengthening of Geoscience Advance Research Laboratories, Islamabad, Rs 70.180 million been set aside. Accelerated geological exploration of the out-crop area of Pakistan will receive Rs 40 million, while feasibility study for development and exploration of Iron ore and commissioning of steel Mill at Kalabagh will attract an allocation of Rs 52.867 million.
The resources confirmed that establishment of Project Management Unit (PMU) for PHRD grant gets an amount of Rs 44.900 million, Strengthening and Capacity Building of Mineral Wing Rs 30 million and others relating to exploration of water in Balochistan and Gemstone Training oriented projects rope in Rs 52 million.
The country geologically is gifted with huge natural resources, which includes world class resources of lignite coal deposits at Thar Sindh, porphyry copper gold in Chagai and leaz-zinc deposits in Lasbella, Balochistan, gypsum, rock salt, limestone, dolomite, china clays etc in Indus Basin. There are about 30 different gems and precious stone deposits in northern Pakistan. In addition to this there are still some projects of grass root through exploration.