Business
PM witnesses signing of new agreement on Reko Diq project
New project company shall be owned 50 percent by Barrick Gold
![PM witnesses signing of new agreement on Reko Diq project](/media/19695/conversions/Reko-Diq-1280x720.webp)
Islamabad: The Governments of Pakistan and Balochistan have signed an agreement with Barrick Gold Corporation of Canada to revive the Reko Diq Project.
Prime Minister Imran Khan witnessed the signing ceremony in Islamabad on Sunday.
The agreement was signed on Sunday by representatives of the federal and Balochistan governments with a delegation of Barrick Gold led by Chief Executive Dr Mark Bristow.
The new project company shall be owned 50 percent by Barrick Gold. The remaining 50 percent shareholding shall be owned by Pakistan.
As part of the Prime Minister's vision, the Government of Balochistan shall not incur any expenses in development of the mines and its share of expenses shall be borne by the federal government.
The investment shall create over 8000 new jobs.
Addressing the ceremony, the Prime Minister emphasized on development of Balochistan and uplift of underdeveloped areas.
He hoped the investment will mark the beginning of large scale investments in Balochistan that shall change the quality of lives of ordinary citizens in the province.
-
Pakistan 2 days ago
Summer vacations extended in Sindh schools
-
Weather 18 hours ago
Cloudy, sunny weather in Lahore, rain also expected
-
Pakistan 14 hours ago
Imran Khan candidate for chancellorship of Oxford University
-
Business 2 days ago
Tax on card payments in Sindh restaurants again rises to 15pc
-
Sports 2 days ago
Sania Mirza shares heart-warming photos on social media
-
Pakistan 2 days ago
Koh-e-Suleman's hill torrents may cause floods, warns PDMA
-
Pakistan 2 days ago
President desires enhancement in jobs quota for minorities
-
Pakistan 1 day ago
Free Meal Program to start at Islamabad schools from August 5