LCCI, PMMD to iden­tify con­straints im­ped­ing in­vest­ment

The Pak Banker - - National -

LA­HORE: The La­hore Cham­ber of Com­merce and In­dus­try and Pun­jab Mines and Min­eral Depart­ment will con­duct a joint study to iden­tify po­ten­tial and con­straints im­ped­ing in­vest­ment and bet­ter uti­liza­tion of min­eral re­source base. This was de­cided at a meet­ing chaired by LCCI Se­nior Vice Pres­i­dent Sheikh Mo­ham­mad Arshad here at the La­hore Cham­ber of Com­merce and In­dus­try on Thurs­day.

Pro­vin­cial Sec­re­tary Mines & Min­eral Shahid Mehmood, LCCI Vice Pres­i­dent So­hail Azhar, Ex­ec­u­tive Com­mit­tee Mem­ber Mian Zahid Javaid also spoke on the oc­ca­sion. The LCCI Se­nior Vice Pres­i­dent said that the La­hore Cham­ber of Com­merce and In­dus­try would also pre­pare two work­ing pa­pers on rock salt, its by prod­ucts and uti­liza­tion of coal for power gen­er­a­tion. Ap­pre­ci­at­ing the Chief Min­is­ter Pun­jab Mian Shahbaz Sharif, the LCCI se­nior vice pres­i­dent said that the all ef­forts would be made for the suc­cess of Pun­jab govern­ment's Min­eral Strate­gic Plan as it is a shift from the reg­u­la­tory mode to cor­po­rate work­ing for at­tract­ing in­vest­ment in this par­tic­u­lar area.

Sheikh Mo­ham­mad Arshad said that en­ergy short­age could be bridged by putting in place coal-based en­ergy plants for which we have mar­velous re­serves. He cited the ex­am­ples of China and In­dia where huge elec­tric­ity is be­ing pro­duced through coal. He said that the con­tri­bu­tion of the min­eral sec­tor in the over­all eco­nomic growth is not com­men­su­rate with the min­eral re­source po­ten­tial of Pun­jab. He said that pri­vate sec­tor was un­able to make any in­vest­ment in this sec­tor for lack of re­li­able data.

Speak­ing on the oc­ca­sion, the Pro­vin­cial Sec­re­tary Min­eral and Mines Shahid Mehmood said that Pun­jab Coal Min­ing Com­pany (PCMC), es­tab­lished by the Pun­jab govern­ment, has iden­ti­fied var­i­ous lo­ca­tions for 400-600 MW coal based power projects. He said that a small Re­source Strate­gic Unit has also been con­sti­tuted for the fast track im­ple­men­ta­tion of min­eral strate­gies while eval­u­a­tion of coal and Iron. -Pr

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