Punjab lifts ban on grant, renewal of coal mining concessions

LAHORE: The Punjab cabinet has lifted a ban on the grant and renewal of coal mining concessions in the province.

A spokesman for Punjab Mines and Minerals Department on Tuesday termed the development a historic decision of the Buzdar government to promote mineral development and investment.

He said that the provincial cabinet has given a final approval to lift the 10-year ban on coal leases, adding that a formal notification in this regard has been issued by the provincial mines & minerals secretary.

He said that the provincial cabinet has constituted a committee to promote competition in the mineral sector, while a separate committee has been constituted to evolve an effective strategy for development of minerals sector which will submit its recommendations to the provincial cabinet.

“Lifting of the ban would not only boost the morale of existing investors but would also attract new ones to invest,” he concluded.