Uniformed regulatory regime for mineral-sector dev on cards

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The Petroleum Division is in process of introducing a uniform regulatory regime for mineral-sector development across the country, under a project initiated to complete all the legal formalities required.

Accordingly, the government has allocated Rs70 million in the Public Sector Development Programme (PSDP 2022-23) for ‘Legal Consultancy Services’ to draft a Model Mineral Agreement and update the Regulatory Framework prepared by provincial minerals and coal departments.

The project was launched during the last fiscal year with an initial allocation of Rs30 million against the total estimated cost of Rs100 million, aimed at ensuring best international practices in the development of the minerals sector.—APP