Government releases Rs 297.24 mn for Pasdec Co.

Islamabad: The government has released an amount of Rs 297.24 million to Pakistan Stone Development Company (Pasdec) for development of marble and granite sector in the country. The allocation is out of the total amount of Rs 500 million reserved for the year 2007-08 in public sector development programme for the development of marble and granite sector.

It consists of establishing two machinery pools, one Model Quarry, three Quarry Upgradation, one Common Facility Training Centre and one Warehouse for dimensional stone, sources said. The project of development of marble and granite sector has high potential of earning foreign exchange through its export and the government has approved Rs 1,980 million for this purpose and planned to spend this amount on the project within three year.

Pasdec has been mandated to implement different measures through its projects for the development of sector and has awarded recently a tender to a local agent of DAEWOO Company for import of earth moving machinery from Korea.

Pasdec had also awarded another tender to an Italian machinery manufacturing company DAZZINI Machines for supply of quarry machinery, which would be used in first marble and granite 'Model Quarry' in Khuzdar, Balochistan, the sources added.