ECC approves final Reko Diq agreements

(Web Desk): A significant breakthrough has emerged in the Reko Diq project, as the Economic Coordination Committee (ECC) has approved the final agreements and financial commitments related to the initiative.

The decision was made during a meeting chaired by Finance Minister Muhammad Aurangzeb, which was attended by Federal Ministers Ali Pervaiz Malik, Rana Tanveer Hussain, Qaiser Ahmed Sheikh, along with senior officials from relevant ministries and regulatory bodies.

The Petroleum Division presented a summary of the agreements during the ECC session. It was decided that any major changes to the final documents would require re-approval from the ECC.

The committee also approved a Rail Development Agreement between the Ministry of Railways and the Reko Diq mining company. The plan includes laying a 1,350-kilometre railway track funded through a $390 million bridge financing facility.

According to the ECC press release issued after the meeting, chaired by Minister Aurangzeb, the rail project is considered vital for exporting Reko Diq’s mineral resources from Balochistan.

The Ministry of Railways has been directed to share the agreement documents with the Finance Ministry, and both ministries are instructed to present a detailed project report to the ECC by March next year.

Finance Minister Muhammad Aurangzeb stated that the Reko Diq project will transform the economic landscape of Balochistan, bringing employment opportunities and infrastructure development.

He further added that Reko Diq would generate long-term socio-economic benefits for the region.