Islamabad: Federal Minister for Finance and Revenue Ishaq Dar stated that the Reko Diq project’s revival will strengthen the economy by boosting investment sentiments and will boost employment opportunities in the country, according to news published on November 27.
Minister Dar made these remarks while presiding over a meeting of the apex committee held to review the progress on the Reko Diq project and its adherence to the steps agreed upon in the official arrangement.
The minister opined about the importance of the project for the country. He stressed that early completion of the remaining step under the agreed arrangement should be ensured prior to the approaching deadline of December 15 for the revival of the project.
The meeting was informed that the Supreme Court’s advice on the reference filed has been received and necessary legislative measures will be taken to align with the formalities within the due date and all the concerned provinces are fully on board.
The meeting was told that the successful compliance of the agreed arrangement in the Reko Diq project will boost international investors’ confidence as well.
Previously, the apex committee – which is headed by the finance minister and Tethyan Copper Company Pakistan (Pvt) Ltd shareholders – agreed to a framework for the settlement and revival of the Reko Diq project in March. It is pertinent to mention that Barrick Gold Corporation and Pakistan agreed to develop one of the world’s largest copper and gold mining projects after resolving their long-standing discord. As per the initial proposal, the project is expected to be developed in two phases and at an initial capital cost of USD 7 billion and will be moved to production between the years 2027-28.