ECONOMICS - TURNING THREATS INTO OPPORTUNITIES (Exploitation of Natural Resources)

Exploitation of Natural Resources
Sind, NWFP and Balochistan are the hub of natural resources Salt, Gold, Copper, coal oil and gas reserves whilst rice and wheat is shared generously by Punjab and Sind apart from industrial infrastructure duly management. All this is nothing but mutual sharing as in isolation every one is the net looser! For the past more than six decades, the Governments had not effectively and effectively discharged their development expenditure and are the hottest question in town now.
It is suggested that special provisions need to be introduced in direct and indirect tax codes whereby new exploitation of natural resources zones be set up in Sind, NWFP and Balochistan which need to be exempted from tax through the concession agreement subject to certain conditions. The prime condition need to be adherence of corporate social responsibility for instance hiring of unskilled local labor to the extent of at least 50%, development of one local school and one technical school of mining or exploration in the area within a time frame.

Article courtesy of Muhammad Ashraf