MINISTER FINANCE CHAIRS RESOURCE MOBILIZATION COMMITTEE MEETING TO BOOST REVENUE FROM NATURAL RESOURCES

Lahore,

Minister Finance Mujtaba Shuja ur Rehman chaired the 3rd meeting of the Resource Mobilization Committee for the year 2024-25, aimed at harnessing the potential of natural resources to increase revenue for the provincial government.
The minister emphasized the significance of natural resources, stating, “These resources are a vital asset for the government, and it is our responsibility to utilize them optimally to generate revenue and drive economic growth.”
The meeting reviewed proposals from the Mines and Minerals, Livestock and Dairy Development departments, focusing on strategies to enhance revenue from mineral resources, salt and livestock. Secretary Mines and Minerals Babar Aman briefed about resource mobilization initiatives, highlighting the substantial increase in mineral prices over the past three years.
The meeting noted that Mineral prices have doubled in the last three years, presenting a significant opportunity for revenue growth. The price of salt has increased and the royalty rate is very low compared to international prices. Welfare project expenditures have increased by over 500% in the last 44 years, emphasizing the need to review excise duty rates on minerals set in 1979.
The Resource Mobilization Committee approved the proposals from the Mines and Minerals, Livestock and Dairy Development department for discussion in the cabinet, paving the way for increased revenue generation and economic development in Punjab.