PESHAWAR (APP): Khyber Pakhtunkhwa Chief Minister, Pervaiz Khattak Wednesday said KP Minerals Development and Regulations Ordinance has been promulgated to bring transparency and stop the use of discretionary powers besides restoring the confidence of local and foreign investors.
Briefing media regarding the salient features of the ordinance, the chief minister said a Minerals Investment and Facilitation Authority (MIFA) headed by the provincial minister will also be established.
He said besides chairman standing committee of the provincial assembly on minerals development, one member each from both treasury and opposition benches will also be included in the authority.
The chief minister said the committee will also play the role of Appellate Authority, adding, in past, all these powers were entrusted in the office of Secretary of the Department, but the present provincial government has devised an international pattern strategy to restore the confidence of investors.
He said a Mineral Titles Committee would be constituted under the chairmanship of the Secretary Minerals to decide leases of different categories and ownership rights.
For guaranteeing transparency, the chief minister said that online licensing is being introduced and in this connection a website of mineral department is also being inaugurated.
For ending the culture of nepotism and use of discretionary powers, Mining Cadastral System would be introduced in current fiscal year and the interested investors could acquire the required online information regarding minerals. Each and every detail of mineral resources would be displayed on the website.
Under the new law, maximum time period of lease has been fixed at 30 years and no one would be allowed to hold more than leases at a time. He said that unlike past, instead of individuals priority would be given to registered companies.
The chief minister said that area limitation has also been reconsidered to ensure increase business opportunities in the province.
He said by the end of the current month a unified monitoring system would be introduced to keep check on illegal transportation of minerals.