ISLAMABAD: The federal government has decided to establish a dedicated Minerals Division to accelerate the development of the country’s mineral sector, informed sources revealed.
Prime Minister Shehbaz Sharif has formed an Inter-Provincial Committee (IPC) to oversee this initiative. Chaired by Federal Minister for Law and Justice Azam Nazir Tarar, the committee includes Federal Minister for Investment Bilal Azhar Kayani, secretaries from various ministries, representatives from Gilgit-Baltistan and Azad Jammu and Kashmir, and private-sector mineral experts.
The committee will draft comprehensive Terms of Reference (ToRs) for the proposed Minerals Division, detailing its structure, functions, and roadmap for attracting foreign and local investment. Recommendations are expected to be presented to the Prime Minister within two weeks, starting December 27, 2024.
Key updates from the Executive Committee of the Special Investment Facilitation Council (SIFC) include plans to finalize the Mines & Minerals Act – 2025 and the National Mineral Development Policy by February 28, 2025. Additionally, a Mines Health & Safety Act – 2025, replacing the outdated 1931 act, is scheduled for completion by June 30, 2025.
The SIFC Implementation Committee will meet on January 2, 2025, to review progress on major mineral projects, including:
Pink-Salt Project (PMDC and SSCI collaboration).
Soda Ash Expansion in Khewra.
Chiniot Iron Ore Project and feasibility for a steel mill.
Granite Excavation Project in Nagarparkar, Sindh.
Soapstone Project in Kurram, KP.
Updates on solar salt and other mineral projects.
The National Assembly Standing Committee on Commerce has also endorsed a subcommittee report advocating enhanced mineral exploration.
This initiative highlights the government’s strategic focus on transforming the mineral sector into a key driver of economic growth and industrial development.
Story by Mushtaq Ghumman
