Islamabad: (Parliament Times) President Azad Jammu and Kashmir Sardar Masood Khan has said that Azad Jammu and Kashmir is a treasure trove of minerals and precious stones but it requires massive investment in infrastructure, modern machinery, training and craftsmanship to tap into the full potential of Azad Kashmir nascent extractive industry.
The President made these remarks while talking to Zahid Maqsood Sheikh, Chief Executive Officer of Pakistan Stone Development Company (PSDC), who called on the President today.
Sardar Masood Khan said that initial geological surveys had indicated huge reserves of minerals and precious stones but due to the lack of resources and indifferent planning in the past we have not been able to realise the full potential of these natural resources.
The president said that in addition to the proven reserves of marble and granite other mineral resources include copper, gold, silver and coal, as well as precious stones like rubies, sapphire and tourmaline. The AJK Government, he said, was now focused on developing local expertise through skill development.
The President said that while at the moment the bulk of the industry is in the hands of the public sector, the way forward was public-private partnership. Mr. Sheikh said that PSDC was keen to partner with the Azad Kashmir Mineral and Industries Corporation, as well as other stakeholders for the development of the extractive industry in Azad Kashmir. “The emphasis”, he said, “will be on local ownership.”
The President said that while developing extractive industry, environmental factors and protection of the fragile eco-system must be given the highest priority. Mining industry must contribute to sustainable development, he said.
