LAHORE: The Punjab government has decided to open its mines and minerals sector to all the domestic and foreign investors for fully exploiting the potential of the sector in the province.

The government is of the view that billions of dollars can be added to the country’s exchequer with the help of Pakistani and international investors.

This was disclosed by the Punjab Minister of Mines and Minerals Ibrahim Murad while chairing an important meeting here on Friday. He claimed revolutionary changes were going to take place in the Department of Mines and Minerals Punjab.

He said all-out resources under the Department of Mines and Minerals were being planned to utilize to improve the country’s economy. Billions of dollars can be added to the country’s economy with the help of Pakistani and international investors in the Department of Mines and Minerals Punjab, the minister added.

The minister regretted that unfortunately, Pakistan’s mineral reserves had not been exploited properly. Punjab has large deposits of salt, pink salt, ash soda, caustic soda, iron ore, silica sand, fire clay, etc.

He hoped that the Department of Mines and Minerals could collect billions of rupees from auctions of existing deposits. The department has started work on geographical indication of rare salt deposits of Punjab. Many people in Pakistan were interested in investing in mining and mineral deposits.

Pakistani and international investors would have to be brought to invest by ensuring the provision of better facilities by the government. Mines and minerals were the only institution in the province of Punjab which has achieved the annual financial target.

Copyright Business Recorder, 2023