Karachi: Pakistan declared Thar Coal field as special economic zone, Provincial administration of Sindh, the southern province of Pakistan also approved Tax holidays and duty free import for next 30 years.
Sindh Minister for Information & Power Shazia Marri has said that Foreign & Local investors are taking keen interest in Thar Coal Project following the investment friendly policies of present government focusing to provide business environment declaring Thar Coal fields as ‘Special Economic Zone’ approving fiscal incentives packages for coal mining and power projects by giving tax holidays and duty free import of machinery for 30 years.
Talking to media men at her office here today Minister Information informed that the Oracle Coalfields of UK has invested upto US $ 610 million in Block VI of Thar Coalfield to develop a coal mine of 5 million tons per year capacity and initial coal production is expected in 2014 with mine development in late 2012.Oracle has also signed an MoU with KESC to develop initially a 300 MW mine -mouth power plant with a plan to develop it upto 1100 MW at the Block VI site, and an other 1200 MW by 2016 in Block – II while a Chinese company is working in Block – 1 to generate 900 MW by 2015.
Recalling the history she said that after the discovery of Thar Coal, government of Shaheed Mohtarma Benazir Bhutto took bold steps for exploration of huge coal resources for energy security of homeland but this project of national interest was abandoned by previous governments. “Since present PPP led democratic government came into power in 2008, Thar Coal Project has been resumed with high priority for coal and energy sectors as it is the only viable answer to country’s energy related problems,” She added.
Marri said that commitment of Provincial Government is evident from fact that It has allocated around 30 million rupees in the last four years for coal exploration, block development, mining and infrastructure department as per international standards.
Minister Information said government of Sindh also entered in the mining project through a joint venture with Engro group to develop coal mining project in Block – II of Thar coal field and government of Sindh has contributed around 200 million rupees in the equity of the project.
Besides, improvement of roads, construction of mining rescue centre, water channel from LBOD to Thar via Nabisar with treatment facility, effluent disposal channel from coal field, establishment of Thar Airport at Islamkot, installation of reverse osmosis plants for provision of potable water to local people and industrial purpose.
Like Provincial Government, the Federal Government has also played its role for expeditious development of Thar Coal and Ministry of Women & Power and Planning Commission focusing on Thar under Coal gasification project, projects of transmission network and provision of canal water. Recently ECNEC has approved a scheme at a cost of 27 billion rupees for provision of water from Makhi – Farash to Thar.
She said that because of investment friendly polices of the government, the foreign and local investment is continually to pour in Thar Coal.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription