QUETTA: The Balochistan Mineral Resources Board has decided to review the Balochistan Mineral Policy 2002 to make it more effective and comprehensive after making amendment to it.

The board also decided that from now onward all mining and exploration licences would be issued through open and competitive bidding.

These decisions were taken at a meeting of the board which was presided over by Chief Minister Jam Kamal Khan Alyani.

The meeting also reviewed agreements signed with several companies working in the mineral sector in the province and discussed procedure for issuing licences to companies interested in mining and exploration of natural resources in the province.

The board decided to increase mining exploration fees and stressed the need for giving priority to the province`s interests first while issuing licences to different mining companies.

The meeting decided that in future mining and exploration licences would be issued through competitive bidding, instead of allowing one company to do this and before the bidding the matter would be advertised in newspapers so that maximum companies could take pan in the bidding process.

The meeting also decided that licences would be issued to the highest bidding company through a transparent process.

The board decided to issue show-cause notices to all defaulting companies which had not paid their dues to the provincial government for a long time.

Speaking on the occasion, the chief minister said that the province could increase its revenue up to Rs15 billion to Rs20bn by increasing exploration licence fee.

He said that mines and mineral depanment could also increase the provincial income by enhancing royalty and taxes on different minerals.

The chief minister said the mining depanment should submit its recommendation to the board.

He said: `Fortunately Almighty Allah has blessed Balochistan with massive natural resources, but without sincere will, effons and proper mechanism we cannot get benefits from the wealth buried under the land of the province`.