LCCI, PMMD to identify constraints impeding investment
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