State Minister for Petroleum Dr Musadik Malik said the government would protect international investors that are interested in the country’s mining sector.
Addressing a press conference on Monday, the state minister said the government has established a one-window operation to facilitate foreign investment.
“In the shape of SIFC (Special Investment Facilitation Council), we have established a one-window operation, which would be presided by the Prime Minister and the Chief of the Army Staff (COAS),” he said while addressing media persons.
The remarks come a day before Pakistan holds a mineral summit titled ‘Dust to Development’ in Islamabad on August 1. The summit is being pitched as a way to attract investment in Pakistan’s vastly untapped mineral and mining sector.
“The value of mineral reserves of Pakistan stands at $6.1 trillion,” said Malik. “Mining offers job opportunity to medium and low skilled workers.”
“All government bodies have also been directed to eliminate red-tape from there departments. We will harmonise all laws and regulations pertaining to mining under one regime,” he said.
The state minister shared that the highest health and safety standards offered internationally shall be adopted by companies eyeing entry in Pakistan’s mining sector.
