LAHORE - Punjab government will spend Rs 8.6 million on minerals and ores exploration across the province during current fiscal year.

"Pakistan has large scale mines and ores but due to lack of modern technology this hidden potential remained untapped over the years," official sources told APP on Monday.

The government had undertaken ten projects related to minerals and ore sector but there was little development in this regard.

However, during current fiscal sources the government intends to establish mining estate in Dera Ghazi Khan, Mianwali, Chakwal and Khushab while spade work at iron mines in Chiniot was underway.

According to experts, there are large iron deposits in these areas. The government is carrying out a study to assess coal reserves in Potohar region. According to an estimate vast reserves of coal are present in the area and the government would start two mega projects to produce power from coal, said the sources.