HYDERABAD, April 25: The minister for finance and planning, Sindh, Dr Abdul Hafeez Shaikh, has disclosed that a Memorandum of Understanding would be signed between China and the Government of Sindh for the exploration of Thar coal.

He said this while speaking as a guest speaker on the Economic Development of Sindh at the Isra University, Hyderabad, on Wednesday.

About the development of oil, gas and coal sector in the province, Mr Shaikh said that the President of Pakistan was himself heading the task team on Thar coal and he had asked the Fauji Fertilizers and other companies to switch on to the coal.

He added that a new policy for coal had been evolved and the coal board in Sindh had been revamped.

He said that Sindh had over two billion tons of coal deposits.

Mr Shaikh said that Sindh was getting royalty for its gas and oil but unfortunately its resources had not been properly utilized.

Referring to the economic development of Sindh, he said that the government had taken steps to control the financial indiscipline and it had improved the procurement procedures. He added that by June 30, Sindh would be able to pay back the debts of the State Bank which amounted to Rs11 billion.

He said that due to the good governance of the government, the federal government and the international donor agencies had been providing considerable funds due to which the education up to matric would be free.

He said that the budget for health had been increased up to 20 per cent, funds for the Khushhal Pakistan Programme had been increased from Rs2 billion to Rs3 billion, the World Bank would provide $100 million per year for the projects for three years, besides Rs3 billion would be with the government to be spent during the next two years on the drought-affected areas.

About the previous governments’ performance, the Sindh finance minister said that Rs20 billion unpaid bills had been left over because of the plundering and financial indiscipline which the present government had paid to restore its image among the donors.

About the debt relief, he said that the federal government had assured that relief would be given to the province.

He said that the multinational companies had been approached to make investments in the province.