Petroleum Ministry prepares mineral policy 2012
A site of coal reserves in Pakistan- File Photo
ISLAMABAD: Ministry of Petroleum after seventeen years, has prepared a Mineral policy 2012.
According to a private news channel report, it is decided that the royalty of various minerals like Gold and others will be increased by five percent.
Mineral policy 2012 has been prepared and all the provinces have been sought recommendation in this connection.
In the policy it has been decided that five percent increase in royalty will be made in Gold and precious stones. Royalty has also been increased by three percent initially. The coal mineral royalty has also been increased by one percent.
It has also been decided that mining will be done by the locals to facilitate only Pakistanis. The foreigners will not be allowed to invest in the mining activities.
I am not a financier but it's sounds like stopping foreign investment to the country. If foreign investment come to Pakistan it will help more the local corrupt investor involve in it, they obviously loot the precious metal and sold to foreigner. We going to looses in both end..
May Almighty Allah bless Pakistan.
it is good for us that foreigners will not be allowed to invest in the mining activities. it will be great opportunity to raise our capital