The KP Mines and Mineral Development Department, despite unfavorable conditions due to the prevailing coronavirus situation, has generated a total revenue of Rs 3.25 billion during the financial year 2019-20 as compared to the revenue of Rs 2.10 billion during the previous financial year that shows 51 percent increase in the revenue collected in the head royalty
The KP Mines and Mineral Development Department, despite unfavorable conditions due to the prevailing coronavirus situation, has generated a total revenue of Rs 3.25 billion during the financial year 2019-20 as compared to the revenue of Rs 2.10 billion during the previous financial year that shows 51 percent increase in the revenue collected in the head royalty.
Such a huge increase in the revenue of the department clearly indicates better and efficient management of the mineral resources by the Department through curbing illegal mining activities in the province.
This was revealed in a meeting of KP Mine Investment Facilitation Authority held here on Tuesday with Khyber Pakhtunkhwa Chief Minister Mahmood Khan in the chair.
The meeting was given a detailed briefing on the overall performance of the department, steps taken to curb illegal mining activities in the province, current status of royalty rates of different minerals, future course of action for exploration and efficient management of mineral resources, issued faced by the department and various other related matters.
The meeting was told that the department had set a target of revenue collection worth Rs. 6.00 billion during the current financial year and under a well planned strategy results oriented steps were being taken to this end.
The meeting was presented a comparative analysis of existing mineral royalty rates of all the provinces and it was decided to review the existing rates of mineral royalty in the province and to present recommendations to the competent forum for rationalizing the existing royalty rates.
Besides Special Assistant to CM on Mines and Mineral Development, Arif Ahmadzai, Special Assistant to CM on Information and Local Government, Kamran Bangash, Head of Strategic Support Unit, Sahibzada Saeed, Secretary Mines and Mineral Development, Nazar Hussain Shah and Principal Secretary to CM Shahab Ali Shah, the meeting was also attended by other relevant authorities.
Expressing his satisfaction on the overall performance of the department, the Chief Minister directed the high ups of the department for concrete steps and concerted efforts to explore the untapped mineral resources of the province, efficient management of mines, promote mechanized mining, and discourage manual mining and to make mining environment friendly.
He further directed the concerned high ups to focus special attention on scientific and mechanized exploration of mineral resources in the newly merged districts so that the same could be utilized for the accelerated development of the areas.
He stressed the need for an effective and permanent mechanism of monitoring within the department to curb the sporadic activities of illegal mining across the province and directed the high ups to come up with workable proposals to this effect.
The meeting also reviewed the possibilities of private investments to set up miming plants and factories in the province with the aim to convert raw mineral products into refined ones at local level.
The meeting was decided to constitute a task force with representation of Mines and Industries Department and Khyber Pakhtunkhwa Economic Zones Development and Management Company to devise an effective strategy to develop the mineral sector on modern lines, attract private sector investment, ensure efficient management of mineral resources and to make mining environment friendly.
Originally published at Urdu Point