The federal government has announced the creation of a dedicated Minerals Division to enhance the development of Pakistan’s mineral resources.
Prime Minister Shehbaz Sharif has formed an Inter-Provincial Committee to define the structure, objectives, and functions of the new division, reported Business Recorder.
The IPC is tasked with developing comprehensive Terms of Reference to establish the division as a platform for attracting local and foreign investment in the mineral sector.
Recommendations are to be submitted to the prime minister within two weeks, starting December 27, 2024.
Meanwhile, the Mines and Minerals Act 2025 and the National Mineral Development Policy are expected to be finalized by February 28, 2025. The Mines Health and Safety Act 2025, set to replace the outdated 1931 version, is scheduled for completion by June 30, 2025.
It bears mentioning that the National Assembly Standing Committee on Commerce has also adopted a report to fast-track mineral exploration.
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