We have always heard that many parts of Pakistan, especially Balochistan and Khyber-Pakhtunkhwa are endowed with rich reserves of minerals that are just waiting to be tapped.
An impression has always been conveyed to the people of this country that as and when these mineral deposits are developed, the outcome would bring great fortunes for them. It is, however, unfortunate that no such thing has happened as the mineral deposits continue to lie under the surface and the country continues to remain poor. It is also true that in the case of the few mineral reserves that have been tapped, such as the Saindak copper and gold deposits in Balochistan, hardly any benefit has come to the country and its people.
Since I am a resident of Balochistan, I am following the articles and news items that have appeared in the media in recent days regarding the copper and gold deposits at Reko Diq in Chaghai with great interest. I have come to know from all of this that an agreement has been signed between the Balochistan government and TCC, the company that is working on the project, under which the province will get a 25percent share in the profits, in addition to the money that it will receive in the form of royalties and taxes. Various figures have also been quoted in the media regarding the value of the deposits but I am not quite sure how it is possible to give a definite value to the volume of deposits that are still lying under the ground in raw form. However, one finds that there is disagreement between the mine developers and the government regarding the size and value of the deposits.
My point is that why are we still bickering about this? We need to understand that whatever the value of the deposits, whether 100 billion dollars or 250 billion, Pakistan would still reap a 25% profit plus the royalties and taxes and the total benefit for the country could even exceed 50%. It is critically important to understand that start of mining activity at Reko Diq would make the much wanted infusion of foreign exchange to the countrys exchequer something that Pakistans economy needs so critically at this juncture. So lets make the best of this good opportunity.
GUL MUHAMMAD RIND
Quetta
