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June 14, 2016
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Rs393 million allocated for Mines and Minerals Dept

Lahore

June 14, 2016

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LAHORE

The Punjab government has allocated Rs393 million for Mines and Minerals Department in the Annual Development Budget 2016-17, to promote and facilitate mines and minerals exploration in Punjab. 

In the current financial year, the Punjab government has decreased the budget of the Mines and Minerals Department with the vision to promote and facilitate Mines and Minerals exploration in Punjab to attract foreign and local investment in this sector. 

This time the allocated amount will be spent on six ongoing schemes and six new schemes. The new schemes will cost Rs115.211 million while Rs237.789 million has been reserved for the ongoing schemes. 

The new schemes include establishment of rehabilitation of training Mine for Mine Supervisors and Mining Technicians, Katas, Completion of leftover works of the MLW Girls Higher and Secondary School at Chak No. 119/SB, Tehsil Sillan Wali, Sargodha, strengthening of mine sample testing laboratory, Khushab, short-term skill development project, Chakwal, Salt Range/Trains Indus Range, Jhelum, Khushab, Chakwal and Mianwali Punjab, and study of rock salt in Salt Range Punjab.  Mines and Minerals Department, Government of the Punjab is responsible instrument of the state for mineral resource wealth mapping, its development and exploration. Punjab is lavishly blessed with mineral wealth that needs to be exploited systematically. Currently, 20 minerals are being excavated out of 35 known. Punjab has almost one billion ton coal and 900 million ton iron ore reserves. Under the dynamic leadership of Chief Minister Punjab, Mines & Minerals Department is leaving no stone unturned to promote and facilitate Mines & Minerals Exploration in Punjab to attract local and foreign investment, thereby ensuring a positive thrust in the provincial GDP. 

During the 2015-16, funds amounting to Rs1.832 billion were allocated to Mines & Minerals Department, including an allocation of Rs1.5 billion for Punjab Mineral Company (PMC). The PMC is presently working on exploration and resource estimation of Iron Ore and associated metallic minerals in Chiniot Rajoa under its Phase-1 project. It is also working on phase-II project for exploration and resource estimation of Iron Ore and other minerals in District Chiniot, Faisalabad and other areas of Punjab. This will hopefully result in establishment of steel mill in Punjab. M&M Department is also facilitating Chinese Company in development of Coal Fire Power Plants at Mines Mouth with indigenous coal under China-Pak Economic Corridor initiative. The schemes completed/major initiatives during FY 2015-16 are as follows: 'Undertaking the first ever power project of 330MW mine mouth model based on indigenous coal', 'First ever complete exploration, drilling and estimation of Copper & Iron Resources in Chiniot / Rajoa with local funding', 'Feasibility of first ever steel mill in Punjab based on indigenous raw material', 'Commencement of 2nd phase of exploration of metallic minerals', 'Up-gradation of mines rescue and safety stations'. 

For the 2016-17, an amount of Rs1.893 billion has been allocated to M&M Sector, including Rs1.5 billion for Punjab Mineral Company (PMC). Targets and major initiative fixed for 2016-17 include: 'Completion of Feasibility Study of Chiniot and Rajoa', completion and operationalisation of scheme titled “Mines Rescue & Safety Area. Sub-station, Ara Basharat”, Commencement of project for defining & mapping of mineral resources corridors in Punjab”, and “Imparting of trainings under Skills Development Project of M&M Department (Chief Minster’s Skills Development Initiative)”. 

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