Balochistan Finance Minister Asim Kurd on Wednesday said that the feasibility report for Reko Diq gold and copper project has been finalised and funds for setting up a refinery have been allocated in the 2011-12 budget. Addressing post-budget briefing at Officers Club here, he said that on the recommendations of the governing body of Reko Deq project, including prominent nuclear scientist Dr Samar Mubarakmand, Rs 8.5 billion have been earmarked for the refinery.
After commissioning of the refinery, the Rkho Deq project would yield Rs 58 billion income per year, the Finance Minister said, adding that this was the main reason that the provincial government was not allowing foreign companies to explore and carry on mining in Reko Deq.
He said that the Balochistan government was ready to ink an agreement with any investor for exploring and mining at the Sandak gold and copper project subject to 50 percent share of the province in total income. He said that the federal government did not provide Rs 7 billion to the province, which it had promised last year for improving law and order. The federal government has once again promised that it would provide Rs 2 billion in fiscal year 2011-12 for the above mentioned purpose, he added.
He said law and order situation in Balochistan had some political reasons and it could be resolved amicably through dialogue. Provincial Finance Secretary Dostain Jamaldini said the government would collect Rs 18 billion more from its own resources in fiscal year 2011-12. "Although Balochistan is far behind other three provinces in collection of revenue, including general sales tax (GST), capital gain tax (CGT) and property tax, it is collecting adequate amount from motor vehicle tax and stamp duty," he said.
He dispelled the impression that straight transfers, received by the provincial government, were federal government's grants. The straight transfers were the share of Balochistan, he added.
He said that increase in Public Sector Development Program (PSDP) in fiscal year 2011-12 was 19 percent higher in comparison with PSDP of fiscal year 2010-11. He said that Rs 250 million had been earmarked in the next fiscal budget as financial assistance for Frontier Corps to maintain law and order in Balochistan.
He said highway robberies in area between Mastung and Sorab caused increase in law and order budget. He said that in next year's budget, Balochistan police would get Rs 4.9 billion, Balochistan Constabulary Rs 1.439 billion, and Levies Force Rs 1.341 billion. He said the Balochistan province could enhance its revenue and income from sectors of mining, fisheries, livestock and agriculture.
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