Pakistan, foreign firm agree on mode of payment in Reko Diq project

ISLAMABAD: Pakistan and Barrick Gold Corporation have agreed to pay the share of the government of Pakistan in rupees for the investment in Reko Diq project.

This was agreed during a meeting between Prime Minister Muhammad Shehbaz Sharif and a delegation of Barrick Gold Corporation, which called on him in Islamabad.

The Barrick Gold Corporation’s delegation was led by its Chief Executive Officer Mark Bristow. He briefed the Prime Minister about the progress on the ongoing development work at Reko Diq.

Speaking on the occasion, the Prime Minister said participation of international companies including Barrick Gold in the “Pakistan Mineral Summit” is manifestation of the restoration of confidence of international investors in Pakistan.

He said the success of the Mineral Summit and the restoration of the confidence of international companies like Barrick Gold in Pakistan become possible by the launch of the Special Investment Facilitation Council.

He said the Reko Diq project will be a game changer for the development of Balochistan and the region and will usher in a new era of development of the province and prosperity of its people.

The Prime Minister also directed all the authorities concerned to fulfill their responsibility in implementation the project.

Shehbaz Sharif was briefed that a Community Development Committee has been constituted Reko Diq to identify possible initiatives on priority basis for the development and prosperity of the people of Balochistan.

It was further briefed that local elders who are part of the committee identify the projects for the development of the local people themselves.

The Prime Minister was informed that employment opportunities are being provided to the talented local people of Balochistan in Reko Diq project and a significant amount from the investment will also be spent on the development of local area.