Marble, granite sector: PCJCCI chief proposes to establish mineral development bank

Pak-China Joint Chamber of Commerce and Industry (PCJCCI) has proposed to set up a 'mineral development bank' supported to explore potential of marble and granite sector at optimal level. PCJCCI President Shah Faisal Afridi made this proposal while speaking at a meeting held here on Wednesday to review ways and means to resolve the issues confronting by the marble industry. Chairman, Association of all Chinese Companies working in Pakistan, Wang Zihai was also present on the occasion.
Afridi said that Pakistan is the 6th largest mineral extractor of marble and granite and has a place on world mining map. Pakistan has enormous potential to promote exports of marble products as it possess huge marble and granite reserves of around 350 million tones and 64 varieties of marble and granite stones, he added. He further said that currently global market for marble and granite is estimated at around US 62 billion dollars, but Pakistan's share is below one percent, which should be a cause of concern for the policymakers.
He further said with the support of government, marble industry has the potential to become backbone of the economy and promote more exports than the share of textile products. He urged the government to address the marble industry issues on priority basis, whose exports can well go up to over US 200 million dollars per year. Faisal Afridi suggested that the government should open a mineral development bank for the marble and stone sector. The high electricity cost, use of obsolete mining techniques, lack of financing facility and processing units, law and order issues in major mining areas, inconsistent power supply, insufficient infrastructure from mines to ports, lack of value addition, improper transportation facilities and supply chain problems are the major hurdles holding back this industry from full growth potential.
He stressed upon the need for public-private sector partnership for the development of the sector. He suggested taking marble industrialists on board in the policymaking process to frame such policies that could boost the industry. The government must improve the power infrastructure, water, sewerage and road networks. It should also ensure soft loans to the potential investors to enable them get modern quarrying machinery. It should also help establish training centers for workforce and a safe and healthy environment, he maintained.
He said that marble miners should stop method of blasting and get the latest machinery on rental basis for extracting marble.He said the standard wastage in the world is 45 percent for the marble sector, adding that in Pakistan blasting technique is destroying 85 percent marble in mining. With the use of technology and innovation, we can even utilize the marble powder for building blocks, he mentioned.
Speaking on the occasion, Wang Zihai said that China is the major importer of Pakistani marble with a share of almost 85 percent. China is enthusiastically interested in local marbles and establishing joint ventures with Pakistani marble exporters but has been demoralised due to some security reasons and deteriorating law and order situation, he said.