President for focused efforts to explore minerals

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Stresses investment in mining and minerals sectors

President Dr Arif Alvi on Monday urged the need for a close, meaningful and effective collaboration among the federal and provincial governments, local authorities, and public and private sectors to promote investment in the mining and minerals sectors of the country.

He was addressing a meeting of various private and public sector stakeholders relating to the exploration of minerals in Pakistan, here at the Aiwan-e-Sadr, the President Secretariat Press Wing said in a press release.

Senior officials of the Ministry of Energy (Petroleum Division), Ministry of Commerce, Federal Board of Revenue, and the Government of Gilgit-Baltistan attended the meeting.

The president said Pakistan was bestowed with enormous high-quality mineral resources, like coal, copper, gold, gemstones, silver and rare metals which needed to be explored and mined by employing information-technology-based modern mining tools and processes to realize the full potential of the mining sector for bringing a visible change in the socio-economic development of the country.

He said different parts of Pakistan were rich in minerals, oils, natural gas, rare metals and nuclear substances as well as precious metals, like gold, silver, copper, zinc and many other minerals of industrial use which, if exploited fully by creating state of the art refining and metallurgical processes, could help the country meet the local demand of the industry and would earn precious foreign exchange by exporting value-added mineral and metal products.

The president said the issues relating to licensing for mining processes needed to be resolved, and exports of precious metal appliances and withholding taxation policy required to be targeted for promoting the exploration of the hidden wealth.—APP

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