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Govt to sell its shares in Reko Diq project to Saudi Arabia

Saudi Arabia has indicated its desire to participate in the project.

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Govt to sell its shares in Reko Diq project to Saudi Arabia
GNN Media: Representational Photo

Islamabad: In a bid to attract Saudi investors and foster economic cooperation, the Pakistani government is exploring the possibility of selling its shares in the Reko Diq project to Saudi Arabia.

This move comes as Saudi Arabia has expressed a keen interest in participating in the Reko Diq venture.

The Special Investment Council (SIFC) has taken the initiative to facilitate these potential transactions and has urged federal agencies to expedite negotiations with Saudi companies in the upcoming months.

According to reports, Pakistan's proposal involves allocating a dedicated block within the Reko Diq project specifically for mineral exploration by Saudi Arabia.

However, the Saudi interest lies in investing in the existing project rather than embarking on mining activities in an uncharted territory.

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