PESHAWAR, Jun 26 (APP): A delegation of Frontier Mines Owners Association here on Wednesday called on Khyber Pakhtunkhwa Governor, Faisal Karim Kundi and apprised him about their problems relating to taxes and royalty.
Led by President of the association, Sher Bandi Khan Marwat, the delegation highlighted their problems about excessive taxes and issuance and renewal of explosive license. They said that these hurdles had negatively impacted the industry besides increasing problems of associated workers and stakeholders.
They said that the KP Government has increased mineral royalty to almost 1300 percent. They said that mining is underway on 600 leases while remaining 3300 mines are non-functional.
The governor was informed that revenue of 600 leases is 6.5 billion rupees and income could be increased exponentially if mining starts on closed mines.
Speaking on the occasion, the KP Governor assured delegation that their problems relating to mineral royalty would be conveyed to federal authorities. He said that the federal government was working to include all the sectors in tax net following existing policy and rules aiming strengthening of economy.
The Governor said that KP is richly endowed with various natural resources adding that steps would be taken to promote mineral sector and protect interest of stakeholders. He also stressed to utilize modern technology in exploiting natural resources of the province.
