Mineral development agencies

Mining and quarrying accounts for only 0.5% of GDP and is a minor sector. However, mining plays a crucial role in economic development. The mining sector is overwhelmingly under the control of the public sector. Coal mining being the only exception where the private sector accounts for 85%  of the total coal production. All minerals except oils, gas and nuclear minerals are under the control of provincial governments. The main agencies engaged in the survey, exploration and developmentof mineral resources are as under.

(1).Resource development corporation (RDC)

      The resource development corporation was established in 1974. It is a government sponsored corporation. The main objective of setting up this corporation is to investigate, probe and develop the mineral resources (except oil and gas). The government has laid particular emphasis on finding out the copper deposits at saindak district Baluchistan.

(2).Gemstonecorporation of Pakistanlimited (GEMCP)

      The GEMCP was established in 1978 with the share capital of Rs. 10 million. The object was undertaking mining, cutting, polishing, marketing of gemstones in the country and helping in the export of a variety of gemstones available in the country.

(3).Pakistan mineral development corporation (PMDC)

      The Pakistan mineral development corporation was set up in 1974 with a view to increasing coal and salt mines in the country. The corporation is operating 4 coal mines, 3 in Baluchistan and 1 in Punjab.

(4).Geological survey of Pakistan (GSP)

      Geological survey of Pakistan in an attached department in the Ministry of fuel, power and natural Resources. This department is primarily responsible for mineral exploration, collection, and dissemination of geological information. This work is done by geological mapping if the country, preparation of geophysical maps and reports.

      The full exploitation of minerals has been constrained by the absence of risk capital inadequacies in the institutional framework and lack of industrial capacity to absorb minerals produce. The government is now adopting new policy measures for removing the constrains.

      Attractive policy packages for petroleum, power and exploration has been announced. The policy lays stress on attracting foreign private investment, simplification of procedures and creations of a domestic corporate securities market.