Employees Annoyed Over Govt’s Decision to Privatize Pakistan Mineral Development Corporation

The federal government’s move to privatize the Pakistan Mineral Development Corporation (PMDC), the sole state-owned mining company, has perturbed the employees working across the country. Sources told ProPakistani that the cabinet last week approved the privatization of PMDC even though the company is billions of rupees in profit besides depositing billions in revenue to the Federal Board of Revenue. It is pertinent to mention here that PMDC is the sole federal government-owned mining company with over 50 years of experience and operations across all provinces. The corporation manages 18 mining ventures including five salt mining projects, four coal mining projects, seven Joint Ventures, and two exploration projects nationwide. Among its operations, the historic Khewra Salt Mines stand out for rock salt production and tourism while Sor Range Quetta is recognized for having Pakistan’s best underground coal mine. PMDC employs 2,101 individuals directly and supports approximately 8,000 families across 13 field formations. as a self-sustaining and profitable state-owned enterprise. PMDC has contributed Rs. 7.29 billion to the national exchequer over the past five years along with CSR contributions of Rs. 735 million. Sources said that the above-mentioned ventures aim to generate significant foreign exchange and socio-economic benefits, creating employment opportunities in underprivileged regions. Privatization at this stage would result in a one-time financial gain whereas ongoing and planned initiatives would lead to widespread job losses, directly impacting thousands of families who rely on PMDC for their livelihood. As a profitable and growing organization, the privatization of PMDC is not justified and the government should revoke this decision.