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ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday said that Reko Diq project would prove to be a game changer for the development of Balochistan and region besides ushering in a new era of progress and prosperity.

The prime minister, talking to a delegation of Barrick Gold led by CEO Mark Bristow which called on him, said Pakistan was rich with immense resources of minerals. The government was taking measures on priority to take maximum advantage of the said resources, he added.

According to a PM Office statement, the Barrick Gold agreed to make the payment of Pakistan’s share of investment in Pakistani rupees.

PM terms Reko Diq project ‘a game changer’

The prime minister said the participation of Barrick Gold and other international firms in Pakistan Mineral Summit held earlier on the day manifested the revival of investors’ confidence in Pakistan.

This revival of the investors’ confidence including that of Barrick Gold in Pakistan was made possible consequent to the formation of Special Investment Facilitation Council.

In the meeting, Mark Bristow apprised the prime minister of progress in the ongoing development works in Reko Diq.

Prime Minister Shehbaz said that the Reko Doq project agreement would prove to be beneficial for both the parties.

He instructed all the relevant institutions to fulfill their responsibilities regarding the execution of Reko Diq project.

The meeting was told that a Community Development Committee had been formed in the Reko Diq which identified actions for uplift of Balochistan and its people.

It was told that the local elders in the committee identified the projects aimed at the prosperity of the people of Balochistan.

Under the project, the skilled local people were being provided employment opportunities and a huge amount would be spent on development of the area.

Minister of State for Petroleum Musaddik Malik and special assistants to PM Jahanzeb Khan and Tariq Bajwa, and relevant senior officers attended the meeting.

Comments

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Tulukan Mairandi Aug 02, 2023 07:49am
That's a silly deal. Govt should ask for payment in USD. Pakistan Rupee is falling like a rock. Soon $1 will be PKR350. It already is almost that in open market!
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Muhammad Waseem Aug 02, 2023 10:17am
@Tulukan Mairandi, Let's see who is silly and keyboard hippy. BG agrees for share of Pakistani investment to be paid in PKR. explanation, GOP will not have to use forx reserve to invest in RikoDiq. Read again!!
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Hassan Aug 02, 2023 10:51am
Are we short for USD or PKR. Don't understand our dumb leaders. They'll never let Pakistan progress.
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Umar Aug 02, 2023 12:29pm
@Tulukan Mairandi, To pay in PKR they have to buy PKR with dollars. This will boost exchange rate of PKR
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Arif Aug 02, 2023 01:19pm
Barrick Gold will pay royalties in PKR …. How is it a positive news for an economy short on $$ ? From past experience It is possible that a side deal is done where powers that be will give their PKR to Barrick in exchange for $ . Rest I leave it to reader’s imagination .
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Anonymous Aug 02, 2023 02:35pm
It means they will get amount in USD and deposit PKR in government treasury
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test Aug 02, 2023 02:56pm
It was It is and It will always be about the elite class of Pakistan. I mean elite class create airport and elite class outsource them. Elite class creates State Owned Entities and Elite class destroy those State Owned Entities. Elite class sells those SOEs and Elite class buys those SOEs. They create fake or corrupt deals and then they outsource our valuable assets for just pennies. They go to IMF to beg for dollars and then they tell us about progress, development, industrialization and exports. I mean this gold is for the people of Pakistan but the elite class will use it to fund themselves and foreign companies. It was the Zardari govt at that time who wanted to make a deal with foreign western company for the mining contract but was unaware of complicated illegalities and may be who knows western countries played a part in this fake deal during Zardari time because today gold is a strategic asset and we are fucked up. The corruption, eliticism, nepotism has destroyed everything.
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Arshad Aug 02, 2023 04:23pm
We dont need US$, as its growing like wild grass in the country.
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Maqbool Aug 02, 2023 05:07pm
Someone is much richer for arranging our country to be paid in Pak Rupees instead of US dollars .
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MohammadShoaib Aug 02, 2023 05:20pm
This government has done wonders for their Masters. World needs Copper for net zero emissions and this project will deliver it. Well development(i.e. road, housing units for workers etc) in middle of no where may be beneficial to Pakistan in next century if they exist.
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