SCCI, NCEG ink agreement to attract investment in mineral sector

27 August 2021

 SCCI, NCEG ink agreement to attract investment in mineral sector

August 27, 2021

PESHAWAR: In order to attract foreign direct investment in Khyber Pakhtunkhwa rich mineral and natural resources, SCCI – Sarhad Chamber of Commerce and Industry, third prime chamber of the Pakistan and the National Centre for Excellence in Geology (NCEG), University of Peshawar have joined hands to collaborate in joint research and proper mapping of mineral deposits in the province.

In this regard, a memorandum of Understanding (MoU) was signed between SCCI and CEG here at the chamber house on Friday.

SCCI president Sherbaz Bilour and CCEG Director Dr Liaqat Ali signed on the agreement, meant to jointly carry out research and development in the mineral sector in the province.

The chamber Senior Vice president Engineer Manzoor Elahi, faculty members Dr Muhammad Hanif, Dr Khalid Latif and Research Assistant Faheem Ahmed and others were present on the occasion.

As per agreement, both sides would make vigorous efforts to attract investment as well as boost this important sector up under a proper mechanism and policy.

Sherbaz Bilour while speaking on the occasion said that the KP has rich natural mineral resources and has huge potentials to attract direct foreign investment by a properly building mechanism and policy.

He lamented that mineral development was a highly neglected sector, which should be prioritized in order to attract investments.

Blessed with a variety of rare and precious marble and mineral resources, SCCI chief said KP newly merged tribal districts are offering immense opportunities for domestic and international investors to earn maximum returns on their FDIs in this vital sector.

This huge variety of marble is a great opportunity for investors to explore it, he added.  

He mentioned that the entire erstwhile FATA especially Bajaur, Khyber and Mohmand, KP’s Malakand division mostly Buner, Shangla and Swat districts are naturally rich in world class marble, granite and other mineral resources.

He added that over 70 per cent marble quarries and processing units existing in K-P mostly in Bajaur, Mohmand, Swat, Buner and Shangla, North and South Waziristan districts cater to the pressing demands of the growing construction industry.

Sajjad Aziz,

Secretary General, Sarhad Chamber of Commerce and Industry