PM says ‘Fed govt will bear all financial burden for Reko Diq development’
“This will help usher in an era of prosperity for the people & province of Balochistan.”
ISLAMABAD: Prime Minister Imran Khan has announced that the federal government will bear all the financial burden for Reko Diq and its development on behalf of the Balochistan government.
He made the announcement in a Twitter message, saying, “This will help usher in an era of prosperity for the people & province of Balochistan.”
In line with my govt’s vision for uplift of smaller provinces, I have decided our fed govt will bear all the financial burden for Reko Diq & it’s development on behalf of Govt of Balochistan. This will help usher in an era of prosperity for the people & province of Balochistan.
— Imran Khan (@ImranKhanPTI) December 29, 2021
Reko Diq is one of the world’s biggest untapped copper and gold deposits located in Balochistan province and Tethyan Copper Company (TCC) had been granted a licence for gold and copper mining.
The former chief justice of Pakistan Iftikhar Muhammad Chaudhry had cancelled the agreement in which the Tethyan Copper Company (TCC) had been granted the license for gold and copper mining at RekoDiq area which led Pakistan to face a whopping $16 billion penalty which was later reduced to $6 billion after a review petition.
A local consortium National Resources Private Limited had said in a statement in May that a proposal was submitted to develop Reko Diq besides implementing the Tanjeel reserves as a starter project, followed by the development of the vast Reko Diq area reserves.
Balochistan government had confirmed that the proposal is being considered, however, the financial aspects of the proposal were not disclosed.
