ISLAMABAD, Dec 16: Petroleum Secretary Abdullah Yusuf on Tuesday said the government had accorded priority to develop the mineral sector and set a target to enhance its present share in national economy from 0.5 to two per cent by 2020.

He said this while addressing the concluding session of the two-day mineral sector development consultation workshop with stakeholders here. The workshop was organized by the ministry of petroleum and natural resources in collaboration with the World Bank.

The secretary said the available geological data divulged adequate mineral potential in Pakistan and conversion of some of identified mineral deposits into resources had given impetus to utilize these endowments for national economic revival, socio-economic uplift and poverty alleviation in far-flung and under-developed regions of the country.

Being cognizant of impediments hampering development due to overall economic constrains, he added that during the last two decades the mineral sector could not get adequate financial allocations and the Geological Survey of Pakistan had been worst affected.

He said in the absence of new mineral development projects basic geological data could be generated for identified exploration target developed into investment opportunities.

Mr Yusuf said the World Bank had assisted Pakistan in the development of many other sectors for boosting economy and anticipated that similar assistance would also be provided to the mineral sector.

He said the outcome of the consultation workshop would go a long way to enable the government to overview the national mineral policy and incorporate the ample ideas and recommendations put forward by the galaxy of eminent experts of the mineral sector and stakeholders to improve the investment climate and sustainable growth of mining in the country.

Secretary, economic affairs division, Dr Ahmed Waqar, highlighted the government’s efforts for sustainable growth of economy.

He said the government would try to address the fiscal bottlenecks impeding the speedy promotion of the mineral sector.

The mineral sector experts from the World Bank, Germany, Australia and stakeholders also spoke on the occasion and lauded the government for providing investor-friendly climate in the mineral sector.—APP