Friday, December 2, 2022

President Dr Arif Alvi approves filing a reference in SC in Reko Diq project

President Dr Arif Alvi approves filing a reference in SC in Reko Diq project

ISLAMABAD (92 News) - President Dr Arif Alvi approved filing a reference in the Supreme Court in the Reko Diq project on Wednesday.

On September 30, the federal cabinet chaired by Prime Minister Shehbaz Sharif had approved filing a presidential reference in the Supreme Court to get validation of the new Reko Diq project deal.

In March 2022, the apex committee had agreed on the settlement and restoraton of the project. The reference will be filed under Article 186 of the Constitution soon.

Earlier, a Canada-based mining group had asked the government to get the Reko Diq gold and copper deal stamped by the parliament and the Supreme Court for the long-term sustainability of the company’s investment in the project.

According to the settlement, 50% of the new project’s shares would be owned by Barrick Gold, while the remaining shares would be owned by Pakistan, divided equally between the Centre and the Balochistan government.