KARACHI: Employers’ Federation of Pakistan (EFP) has signed a monumental Memorandum of Understanding on the “Minerals Development Program” with the Trade Development Authority of Pakistan (TDAP) at the TDAP office. Ismail Suttar, President EFP and Younus Dagha, Chairman Minerals to Chemicals Committee represented EFP in this mutual collaboration with Trade Development Authority of Pakistan represented by Ahsan Ali Mangi, Secretary TDAP.
The Minerals to Chemicals Committee was instituted by the Employers’ Federation of Pakistan to explore the hidden potential of 92 minerals of Pakistan that are exploited and exported in raw form contributing only 3% to the GDP of the country. President EFP envisioned broadening the spectrum of the minerals sector through conversation into value-added chemicals.
Secretary TDAP applauds EFP for its efforts in promoting Value-Addition of Minerals to Chemicals and proposed a joint plan of action to be formed that was officially signed yesterday in a ceremony followed by an active brainstorming session which was attended by Board of Directors of EFP along with its young researchers, industrial stakeholders, and officials from TDAP to implement the action plan to revive the ailing sector through Value Addition of minerals of Pakistan.
The implementation of this MoU in a years’ time will lead to establishment of new industries, enhancement of trade value through exports of value-added products and tapping new regional and export markets, says Ismail Suttar.
President EFP also states that we have worded the Action Plan very carefully to benefit the SME Sector at large and develop the minerals sector through geo tagging of mineral reserves on Pakistan Map that will be updated on annual basis and will show a real time data that will make the investors comfortable while exploring new business avenues in this sector.
The main work will start from the implementation of Phase-II of this MoU that is development of state-of-the-art mineral research laboratory that will be operated by EFP, all thanks to Chairman Minerals to Chemicals Committee Younus Dagha who has effortlessly drafted the proposal and working model to run an institute that will design mineral beneficiation techniques and conduct project economics. Such Viable projects will then be handed over to interested stakeholders who will be ready to invest in this sector to set up industries, says Ismail.
Secretary TDAP and President EFP are confident that our joint efforts will open new vistas of investment in Pakistan
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