Coordinated efforts vital for accelerated exploration: Asad Umar

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives, Asad Umar has emphasized the need for coordinated efforts for accelerated exploration and development of indigenous mineral resources.

Presiding over a meeting to review the work of Pakistan Mineral Development Corporation and other allied matters in Islamabad, Asad Umar said that a uniform policy and regulatory framework across the country would be beneficial for attracting investment in the sector, Radio Pakistan reported.

He said that while minerals are a provincial subject, the federal government can help and support the development of the sector, by aligning its various policies towards that objective.

The minister said that both public and private sector should come forward for optimum exploitation of indigenous mineral resources.

Earlier on November 28, the Economic Coordination Committee (ECC) of the Cabinet had approved amendments to a host of rules governing the regulation of upstream petroleum sector to foster ease of doing business and encourage investment in the sector.

The approval had been granted in the ECC meeting held in Islamabad with Finance Adviser Dr Abdul Hafeez Shaikh in the chair.

The meeting had approved amendments in eighteen laws and 25 legal procedures with the aim to simplify and facilitate investments in oil exploration and production.