Punjab Secretary Mineral and Mines, Shahid Mehmood has said the Punjab Coal Mining Company (PCMC) established by the provincial government, has identified various locations for 400-600MW coal based power projects in the province. He disclosed this in a meeting with Senior Vice President Lahore Chamber of Commerce and Industry (LCCI) Sheikh Muhammad Arshad here on Thursday.
Executive Committee Member, Mian Zahid Javaid was also present. Mehmood said that a small Resource Strategic Unit has also been constituted for the fast track implementation of mineral strategies while evaluation of coal and iron ore reserves have been initiated to meet potential investors requirements in accordance with international standards.
He further said that Mineral Strategic Plan for Punjab has been developed to make the mineral sector one of the major factors of economic growth. The Minerals and Mines Department in collaboration with the LCCI is also holding a seminar in January 2011 to generate debate among all the stakeholders. The seminar will be addressed by a number of notable local and foreign academicians. Some prominent businessmen and practitioners would help evolve a joint strategy to tap mineral potential of the province, he added.
During the meeting, both the LCCI and the Punjab Mines and Mineral Department have decided to conduct a joint study to identify potential and constraints impeding investment and better utilisation of mineral resource base. Arshad said that the LCCI would also prepare two working papers on Rock Salt, its bye products and utilisation of coal for power generation. Appreciating the Chief Minister Punjab Shahbaz Sharif, he said that all out efforts would be made for the success of Punjab government's Mineral Strategic Plan as it was a shift from the regulatory mode to corporate working for attracting investment in this particular area.
Arshad said that energy shortage could be bridged by putting in place coal-based energy plants for which they have marvellous reserves. He cited the examples of China and India where huge electricity was being produced through coal. He said that the contribution of the mineral sector in overall economic growth is not commensurate with the mineral resource potential of Punjab. He said that private sector was unable to make any investment in this sector due to lack of reliable data.