LAHORE: The Lahore Chamber of Commerce and Industry on Saturday feared that bureaucratic inefficiencies, undue hurdles and non-implementation of rules and regulations would push the potentially lucrative mining sector to the wall.
The apprehensions were shown by the LCCI Vice President Mian Abuzar Shad while chairing a meeting of LCCI Standing Committee on Mining. The meeting was convened by the Convener of the Committee Chaudhry Iftikhar Bashir.
The LCCI Vice President said that it was very unfortunate that the department concerned had failed to renew 1368 licenses of the firms working in this sector while a whooping increase of 300 per cent was made in the royalty for the mines that is bound to dent the entire investment scenario in this sector.
Mian Abuzar Shad said that neither the department was implementing Mining Rules 2002 nor it had ever felt the need for the consultation with the stakeholders over the challenges being faced by them time to time.
The LCCI Vice President also called for imposition of Export Duty on Gypsum as neighboring India was unnecessarily importing it in huge quantities for being cheaper as one could always see a long queue of trucks of Gypsum at Wagah Border.
Speaking on the occasion, the Convener of the LCCI Standing Committee on Mining Iftikhar Bashir Chaudhry said that the government should issue immediate directions for the renewal of licenses of the firms working in the mining sector.
He said that the huge increase in royalty was unjustified, therefore, it should be rationalised for the sake of new investment in this sector that has a marvelous potential. He said that it seemed that some elements in the Mining Department were trying to apply reverse gear to all government efforts aimed at economic revival of the country.