The federal government’s decision to privatize the Pakistan Mineral Development Corporation (PMDC), the country’s sole state-owned mining company, has raised concerns among employees nationwide.
According to sources, the cabinet recently approved the privatization of PMDC, despite the company’s strong financial performance. PMDC has been generating billions of rupees in profit and contributing significantly to the Federal Board of Revenue.
PMDC, with over 50 years of experience, is the only federal government-owned mining company operating across all provinces. It manages 18 mining ventures, including five salt mining projects, four coal mining projects, seven joint ventures, and two exploration projects.
Notable operations include the historic Khewra Salt Mines, known for rock salt production and tourism, and the Sor Range in Quetta, recognized for its high-quality underground coal mine.
The corporation directly employs 2,101 individuals and supports approximately 8,000 families across 13 field formations. As a self-sustaining and profitable enterprise, PMDC has contributed Rs. 7.29 billion to the national exchequer over the past five years, along with Rs. 735 million in corporate social responsibility contributions.
Major Initiatives:
Exploration: PMDC is exploring 1,000 square kilometers of antimony blocks in Balochistan, which could be transformative for Pakistan.
Acquisitions: The company has acquired 40,000 acres for iron ore mining in Balochistan, placer gold blocks in Punjab, and base metal projects in Chitral.
Foreign Investment: A $200 million investment from MSCI USA is planned for a pink rock salt grinding and packaging plant.
Value-Added Ventures: PMDC is developing projects such as coal to coke, humic acid production, coal briquette, and coal bed methane.
These initiatives aim to generate significant foreign exchange and socio-economic benefits, creating employment opportunities in underprivileged regions.
Analysts argue that privatizing PMDC at this stage would result in a one-time financial gain, while ongoing and planned initiatives promise long-term benefits. The move could lead to widespread job losses, directly impacting thousands of families reliant on PMDC for their livelihood.
As a profitable and growing organization, many believe the privatization of PMDC is unjustified and are calling on the government to reconsider its decision.
