PESHAWAR: The Khyber Pakhtunkhwa government has announced the inclusion of 54 types of minerals in the tax net, with a fixed tax rate ranging from Rs 30 to Rs 2,000 per ton.
It is considered a major step towards regulating the mining sector and generating revenue for the province. The provincial government has also assured that the taxes will be used to develop the mining sector and benefit the local communities.
The move is expected to boost the economy of Khyber Pakhtunkhwa and create new opportunities for the mining industry.
According to the proposed law, black granite will be taxed at Rs 1,500 per ton, while other colored granites will be taxed at Rs 500 per ton. Graphite will be taxed at Rs 350 per ton, chalk at Rs 200 per ton, gypsum at Rs 100 per ton, red clay at Rs 200 per ton, China clay at Rs 100 per ton, and marble at Rs 300 to Rs 1,000 per ton.
Similarly, marble will be taxed at Rs 2,000 per ton, magnesite at Rs 400 per ton, phosphate at Rs 1,000 per ton, salt at Rs 150 per ton, cement-grade limestone at Rs 300 per ton, soapstone at Rs 800 per ton, silica at Rs 300 per ton, and sulfur at Rs 30 per ton. The taxes will be collected starting from July 1.
The provincial government believes that the move will generate revenue for the provincial government and promote the mining sector . The government has also announced plans to establish a mineral development authority to oversee the mining industry and ensure the collection of taxes.
