Balochistan to establish minerals exploration company.

QUETTA -- Balochistan government has finalized to establish minerals exploration company in the province to start a boom in its mining sector.

Balochistan Chief Minister Jam Kamal Khan has given the approval the establishment of Balochistan Exploration Company (BMEC) while chairing a high level meeting.

The meeting was decided to appoint the Secretary Mines and Mineral Development department as the interim Chief Executive Officer of the company.

It was also decided to have seven members on the company's board of directors.

It added that 90 percent of the shares in the company would be owned by Balochistan and 10 percent by the federal government.

The head office the company would be set up in Quetta and branch office in Islamabad.

The meeting agreed to include experts from the minerals sector in the members of the Board of Directors of the company.

The meeting also decided to set up a Chaghi Foundation which would be given a fair share from the company's profits.

The purpose of establishing the foundation is to develop the economic and social sector in the district Chaghi.

The chief minister directed the Mines and Mineral Development and department Finance to start implementing the decisions taken in the meeting.

Addressing the meeting, the CM said that the establishment of the company would bring improvement and change in the mining sector in Balochistan.

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