PESHAWAR: Sarhad Chamber of Commerce and Industry (SCCI), the third prime chamber of 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 Khyber Pakhtunkhwa (KP) in order to attract foreign direct investment in the province.
In this regard, a Memorandum of Understanding (MoU) was signed between SCCI and NCEG here at the chamber house on Friday.
SCCI President Sherbaz Bilour and CCEG Director Dr Liaqat Ali signed the agreement, meant to jointly carry out research and development in the mineral sector in the province.
The chamber Senior Vice President (VP) Engineer Manzoor Elahi, faculty members Dr Muhammad Hanif, Dr Khalid Latif, Research Assistant Faheem Ahmed and others were present on the occasion.
As per the agreement, both sides will make vigorous efforts to attract investment and try to boost this sector under a proper mechanism and policy.
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 proper building mechanism and policy.
He lamented that mineral development was a highly neglected sector, which should be prioritized to attract investments.
Blessed with a variety of rare and precious marble and mineral resources, the SCCI chief said KP newly merged tribal districts are offering immense opportunities for domestic and international investors to earn maximum returns on their Foreign Direct Investments (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 Foreign Direct Investment (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 of marble quarries and processing units existing in KP, mostly in Bajaur, Mohmand, Swat, Buner and Shangla, North and South Waziristan districts cater to the pressing demands of the growing construction industry.
