'Reduction in mine leasing, licensing duration proves positive'

Punjab Minister for Mines and Minerals Ch Sher Ali Khan has said that duration of mine leasing and licensing has been reduced from five years to three year which is providing positive results. The Minister revealed this while speaking at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Office on Wednesday. He said the Punjab government is taking various initiatives for proper utilization of potential of this sector. Value-addition is prerequisite for the growth of mining sector, he added. "We are receiving a number of applications for establishing cement industry in Punjab.
The Minister said the mining is one of the promising sectors for revenue generation and private sector should invest in it. The departmental revenue is constantly increasing and reached Rs 7 billion, he added. FPCCI Vice President Manzoor ul Haq Malik also spoke on the occasion and stressed the need for tapping the mining sector of Punjab. He highlighted various issues faced by the businessmen dealing in mining including value addition, explosive material, low price, and associated tax matters.