PESHAWAR -- The Khyber Pakhtunkhwa (KP) cabinet has approved Mineral Sector Governance (Amendment) Bill, 2019 to make mineral sector investment-friendly.
The draft legislation will address the post-merged scenario of the tribal districts, and other key issues in the existing law of the mines and mineral sector.
The new amendment has defined the mining operation procedure and awards of mineral titles for the newly merged tribal districts. The amended draft says that in the grant of the titles in the newly merged tribal districts priority will be given to the local community.
In addition, the mineral titleholder in these areas will also be nominated by the local community. A dispute resolution committee will also be formed to address the mineral sector issues of the area.
The Mineral Sector Governance (Amendment) Act, 2019 will also introduce E-bidding in the minor minerals sector, which will further promote transparency in the sector. While it will also reform the auction of minor mineral at the district level.
The provincial minister for Mines and Mineral, Dr Amjad Ali said that the amendment is formulated to facilitate investors in the mining sector of the province, as it is one of the key sectors in KP which can provide a boost to the economy.
Dr Amjad Ali said that with new amended act, the mineral titleholder and local or foreign investors...