KARACHI - Cancellation of an agreement with an Australian company for exploration of copper and gold in the Reko Dik area of Chagai district, by the Chief Minister Balochistan has put a question mark on the promises made by the current government to the people for the development of resources in the province. Chief Minister Nawab Aslam Raisani has also held in abeyance the NOC issued by Environment Protection Agency (EPA) in favour of Bosicor refinery for establishing a floating jetty at Gaddani in Lasbela district, which is another setback vis-a-vis progress and development of Gwadar Port. President of Balochistan Economic Forum Sardar Shaukat Popalzai while talking to The Nation has regretted recent orders of CM Balochistan, expressing fears that the prospective investors in the pipeline might quit in the context of such announcement. Next to the Bosicor refinery at Gaddani in Lasbela district is the ship-breaking yard, where environment has never been questioned, and it is flourishing for the last many decades. The ship-breaking yard has generated economic activity in a big way and created employment opportunities for the seashore people of Balochistan. The government of Balochistan fears that the refinery would pose constant threat to the fisheries sector in the coastal area of Balochistan, while actually the main reason is the current ban on seafood export to Europe by the European Union and other countries for various technical reasons. It has badly affected the income generation of coastal population of the province. Sardar Shaukat said that competent departments and political leadership should not take such like decisions after the projects are initiated, especially when all clearances merit a due consideration prior to grant of permission in this regard. Reko Dik copper and gold reserve has developed a world class reputation with interests from investors of different continents, while major exploration of minerals in Balochistan province can significantly change the economic outlook of the province, he added. He maintained that the province of Balochistan, being Pakistans largest province in terms of area is a prospective heaven for mining companies, eyeing its untapped mineral reserves and hydrocarbon resources. Unfortunately the provincial government has decided to adopt a non-routine solution. Certain misunderstandings about the investment environment of the province have been generated through such orders by CM, and due to the suppressed economy of Balochistan such investments are required for creating job opportunities, development of infrastructure, community development and revenue generation through different taxes for the national exchequer. The Siandak copper project had also suffered greatly due to the mismanagement by the successive government agencies and faced huge losses in the past, and finally it was developed by a friendly country, he added. He said similarly the Iron ore project in Dilband was also mishandled by a public sector company which did not have any past experience other than hydrocarbon resources, adding that such huge projects always need huge capital, highly skilled and technical know-how, besides, international market connections for profitable and successful operations. At present neither the federal government nor provincial government has such resources and expertise for exploration of the large mineral reserves, therefore, interest and support of the foreign investors would be much needed. Sardar Shaukat also mentioned the untiring support of Nawab Zulfiqar Ali Magsi, Governor of Balochistan who, during his tenure as chief minister in the past, had supported Balochistan Economic Forums large mineral projects like Reko Dik which was at the initial phase when he was Chief Minister. Many mineral projects also faced difficult situation like lead & zinc project at Duddar in which Irish and Australian companies showed keen interest and invested huge foreign exchange for initial findings, but had abandoned their efforts because of bureaucratic hurdles. The President of Balochistan Economic Forum has advised the provincial government to form a provincial assembly committee along with a sub committee consisting of local stakeholders including the investors to understand the misconceptions and remove all irritants with mutual consultation and consent.