Uniformed Regulatory Regime For Mineral-sector Development On Cards

ISLAMABAD, (UrduPoint / Pakistan Point News – twenty second Jul, 2022 ) :The Petroleum Division is in means of introducing a uniform regulatory regime for mineral-sector improvement throughout the nation, beneath a challenge initiated to finish all of the authorized formalities required.

Accordingly, the federal government has allotted Rs70 million within the Public Sector Development Programme (PSDP 2022-23) for ‘Legal Consultancy Services’ to draft a Model Mineral Agreement and replace the Regulatory Framework ready by provincial minerals and coal departments.

The challenge was launched over the past fiscal 12 months with an preliminary allocation of Rs30 million towards the overall estimated value of Rs100 million, geared toward guaranteeing greatest worldwide practices within the improvement of the minerals sector, a senior official aware of the petroleum sector developments informed APP.

He mentioned the guide would work in shut coordination with the challenge crew and all of the departments involved for revision and updating the mining legal guidelines and guidelines/rules regarding minerals concessions and occupational well being & security points.

The official mentioned the uniform regulatory framework was a should to facilitate funding and ease of doing enterprise within the mineral sector.

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