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Plan to establish mineral exploration company approved


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QUETTA: Balochistan Chief Minister Jam Kamal Khan Alyani chaired a high-level meeting on Tuesday to review the proposed plan for establishing the Balochistan Mineral Exploration Company (BMEC).

The meeting decided to appoint the secretary for Minerals and Min­­eral Development as its int­e­rim chief executive officer and app­­ro­ved a seven-member board of directors for the proposed company.

It was agreed at the meeting that Balochistan would have 90 per cent shares in the company and the remaining 10pc would go to the federal government. The head office of the company would be established in Quetta while a branch office would be set up in Islamabad.


The meeting agreed to include experts from the minerals sector in the board of directors.

It was also decided that a Chagai Foundation would be set up with the aim to develop the economic and social sectors in the Chagai district.

Provincial Finance Minister Mir Zahoor Ahmed Buledi, Chief Secretary Fazeel Asghar, Finance Secretary Noorul Haq Baloch and other federal and provincial officials concerned attended the meeting.

Chief Minister Jam Kamal told the meeting that with the establishment of the BMEC, there would be improvement in the mining sector and mineral resources of the province would be developed which would not just boost investors’ confidence but also enhance investment in the sector.

“The Balochistan government will initially allocate funds for the BMEC and also provide a platform to private companies in the province,” he said.

He said that the company would also take steps to provide training in the field of mineral resources to the youth of Balochistan.

Published in Dawn, June 18th, 2020


https://www.dawn.com/news/1564241

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