{"id":83912,"date":"2022-02-16T11:30:12","date_gmt":"2022-02-16T06:30:12","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=83912"},"modified":"2022-02-16T11:30:14","modified_gmt":"2022-02-16T06:30:14","slug":"pakistan-sandak-balochistan-share","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pakistan-sandak-balochistan-share.html","title":{"rendered":"Pakistan renegotiates Sandak Project\u2019s profit margin, increases Balochistan share"},"content":{"rendered":"\n<p>Islamabad: Energy Minister Hammad Azhar on Tuesday (February 15) announced an adjustment to the Sandak Project&#8217;s profit share, which has increased the government&#8217;s share from 50% to 53% of the total, according to news sources. The new agreement was negotiated in consultation with stakeholders and the Balochistan government. <\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/ecc-saindak-minng-lease-15-years.html\" target=\"_blank\" rel=\"noreferrer noopener\">ECC extends Saindak Copper-Gold project lease for 15 years<\/a><\/p>\n\n\n\n<p>In a series of tweets, the minister said that the federal<a href=\"https:\/\/www.zameen.com\/news\/reko-diq-project-balochistan-to-get-higher-share-in-profit.html\" data-type=\"post\" data-id=\"83288\" target=\"_blank\" rel=\"noreferrer noopener\"> government has also increased the profit share of Balochistan<\/a>. Under the revised terms following changes have been made in favour of Balochistan:\u00a0\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Balochistan would receive a royalty of 6.5% of the proceeds, up from previous 5%&nbsp;&nbsp;<\/li><li>Balochistan&#8217;s government social uplift support has been increased from 5% to 6.5% of net earnings&nbsp;<\/li><li>Balochistan will get an increase in annual rent by up to 40% (indexed with price)<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"twitter_widget_wrapper alia_embed_wrapper\"><div class=\"twitter_widget_border\"><!--ALIA start embed content--><blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Royalty to Govt of Balochistan enhanced from 5% to 6.5% of sales revenue. Social uplift support to GOB from 5% to 6.5% of net profit &amp; increase in annual rent by up to 40% (indexed with price). <br>This agreement has been concluded in consultation with all stakeholders incl GOB.<\/p>&mdash; Hammad Azhar (@Hammad_Azhar) <a href=\"https:\/\/twitter.com\/Hammad_Azhar\/status\/1493531311788675077?ref_src=twsrc%5Etfw\">February 15, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><!--AliA end embed content--><\/div><\/div>\n<\/div><\/figure>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/balochistan-bifurcates-lasbela.html\" target=\"_blank\" rel=\"noreferrer noopener\">Balochistan govt. bifurcates Lasbela, makes new Hub District<\/a><\/p>\n\n\n\n<p>Furthermore, Minister Azhar stated that the 2,500 square kilometre oil and gas exploration Baska Block site in Dera Ghazi Khan, Dera Ismail Khan, and Musa Khel will be taken over by Pakistan Petroleum Ltd (PPL). The decision to retake control of the exploration site from China ZhenHua Oil Co., Ltd., citing their inability to conduct exploratory activities since 2007. It was announced that government entities will carry out the block&#8217;s exploration.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Energy Minister Hammad Azhar on Tuesday (February 15) announced an adjustment to the Sandak Project&#8217;s profit share, which has increased the government&#8217;s share from 50% to 53% of the total, according to news sources. The new agreement was negotiated in consultation with stakeholders and the Balochistan government. Read: ECC extends Saindak Copper-Gold project lease for 15 years In a series of tweets, the minister said that the federal government has also increased the profit share of Balochistan. Under the revised terms following changes have been made in favour of Balochistan:\u00a0\u00a0 Balochistan would receive a royalty of 6.5% of the proceeds, up from previous 5%&nbsp;&nbsp; Balochistan&#8217;s government social uplift support has been increased from 5% to 6.5% of net earnings&nbsp; Balochistan will get an increase in annual rent by up to 40% (indexed with price) Read: Balochistan govt. bifurcates Lasbela, makes new Hub District Furthermore, Minister Azhar stated that the 2,500 square kilometre oil and gas exploration Baska Block site in Dera Ghazi Khan, Dera Ismail Khan, and Musa Khel will be taken over by Pakistan Petroleum Ltd (PPL). The decision to retake control of the exploration site from China ZhenHua Oil Co., Ltd., citing their inability to conduct exploratory&hellip;<\/p>\n","protected":false},"author":84,"featured_media":67076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[51155,51153,51157],"persona":[],"class_list":{"0":"post-83912","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-pakistan-renegotiates-sandak-projects-profit","9":"tag-pakistan-renegotiates-sandak-projects-profit-margin","10":"tag-sandak-projects","11":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pakistan renegotiates Sandak Project\u2019s profit, GOB Share- Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Energy Minister Hammad Azhar on Tuesday (February 15) announced an adjustment to the Sandak Project&#039;s profit share, which has increased the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/pakistan-sandak-balochistan-share.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan renegotiates Sandak Project\u2019s profit, GOB Share- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Energy Minister Hammad Azhar on Tuesday (February 15) announced an adjustment to the Sandak Project&#039;s profit share, which has increased the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pakistan-sandak-balochistan-share.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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