The mining sector has the potential to reshape the economy as it can bring $ 50 billion investment in the country by offering incentive to investors, sources said. According to the sources familiar with the development told “Online” that Afghanistan was getting around $30 billion through mining sector, compared to it Pakistan can get $40 to 50 billion investment by offering incentive to investors.
According to the sources most of the potential of mining sector in the country has remained untapped so far due to human capital, local expertise and capital and now government was making serous efforts to promote and bring investment in the mining sector by removing the barriers that discourage investment. “During current financial year 2012-2013, an area of about 3900 sq. km is planned to be mapped in different parts of the country,” sources said, adding that around 300 samples would be collected and analyzed in the country.
The projects of up gradation and strengthening of Geosciences Advance Research laboratories, accelerated Geological mapping, Geo chemical exploration of the out crop areas and the project of review and updating of Mineral Policy would be carried out during current fiscal year. It is relevant to mention here that the mining industry of Pakistan holds great potential because of the vast unexplored resources of the country. Mining has provided the manufacturing and energy needs of the country in the past many years and has contributed to the enrichment of the world through industrial development.
