Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Johnny Depp Amber Heard Relationship
    EntertainmentVideos

    Leaked Texts Darken Depp-Heard Saga: From Romance to Courtroom Drama

    November 28, 2023 2 Min Read
    MrBeast NFL Contract
    EntertainmentVideos

    MrBeast’s $10 Million NFL Stint with Tampa Bay Buccaneers Goes Viral

    November 26, 2023 1 Min Read
    IShowSpeed SWAT Incident
    EntertainmentVideos

    IShowSpeed’s Live Stream Interrupted by SWAT Team

    November 22, 2023 1 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Pakistan’s Anticipated Deal with Saudi Arabia on Reko Diq Shares
PhotoNews PakistanPhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Caretaker Prime Minister Anwaar-ul-Haq Kakar
PhotoNews Pakistan > Business > Pakistan’s Anticipated Deal with Saudi Arabia on Reko Diq Shares
Business

Pakistan’s Anticipated Deal with Saudi Arabia on Reko Diq Shares

Last updated: 2023/11/08 at 4:16 AM
2 Min Read
Share
In an interview with Arab News Pakistan on November 6, 2023, Caretaker Prime Minister Anwaar-ul-Haq Kakar, Islamabad. Photo Screenshot - Arab News
SHARE

Caretaker Prime Minister Anwaar-ul-Haq Kakar has indicated that Pakistan expects to finalize a deal with Saudi Arabia by December to sell shares in the Reko Diq project.

The project is one of the world’s largest gold and copper mines located in Balochistan. In his interview with Arab News, PM Kakar expressed optimism about the negotiations, highlighting the government’s enthusiasm for Saudi participation in this significant venture.

Current Stakeholders and Potential Saudi Involvement

The Reko Diq project currently involves several key stakeholders. Canadian company Barrick Gold Corporation holds a 50% share, while a consortium of Pakistani governmental entities owns 25%. Balochistan holds the remaining 25%.

#WATCH: Prime Minister Anwaar-ul-Haq Kakar tells Arab News government hopes for deal by December for Saudi Arabia to buy stakes in Reko Diq gold-copper mining project, the first time Pakistan has officially confirmed it is considering selling it shares.
–https://t.co/28brvoEYUV pic.twitter.com/DdZLLVyRN8

— Arab News Pakistan (@arabnewspk) November 7, 2023

The project, valued at over $7 billion, has the potential to produce substantial amounts of copper and gold annually. Although Barrick Gold Corporation is not selling its stake, it is open to Saudi Arabia purchasing the shares held by the Pakistan government.

In addition to the Reko Diq discussions, PM Kakar emphasized the role of the newly established Special Investment Facilitation Council (SIFC). The SIFC aims to streamline foreign investment processes and address bureaucratic challenges.

With initiatives like the SIFC, Pakistan hopes to attract significant foreign investment, potentially exceeding $60 billion in the next five years. The SIFC is part of a broader strategy to enhance Pakistan’s investment climate and foster economic growth through foreign direct investments and strategic partnerships.

TAGGED: Featured
Jaffar Khan November 8, 2023
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

PNS TUGHRIL

Pakistan Navy Deploys PNS TUGHRIL to Secure Maritime Routes

Sarfraz Ahmed Bugti

Pakistan’s Caretaker Interior Minister Assures Security for Fair Elections

Stephen Curry's Historic Milestone:

Stephen Curry Surpasses Magic Johnson and John Stockton in Career Milestone

Fantasy Football Week 13 Rankings

Week 13 Fantasy Football Rankings: Key Players on Bye

Bitcoin Price Prediction 2024

Crypto Stocks Surge as Bitcoin Hits 19-Month High

iShowSpeed Breakup

iShowSpeed’s Controversial On-Stream Breakup Goes Viral

Post Archives

More Popular from Photonews

Merriam-Webster
Offbeat

Merriam-Webster Declares ‘Authentic’ as 2023’s Word of the Year

1 Min Read
Aaron Rodgers Return
Sports

Aaron Rodgers’ Practice Window Opened by Jets, Eyeing Potential Return

2 Min Read
Gunjal Film Release
Entertainment

“Gunjal” Set to Premiere: A Gripping Crime Thriller from Pakistan

2 Min Read
Business

World Bank Launches Policy Notes for Pakistan’s Development

The World Bank, led by Regional Vice President for South Asia Martin Raiser, released a series…

November 29, 2023
Sports

Imad Wasim Traded to Islamabad United for Hassan Ali in PSL’s Ninth Edition

Karachi Kings have traded Imad Wasim for Hassan Ali from Islamabad United in a major move…

November 29, 2023
World

Russia Downs Ukrainian Drones and Missiles

Russia claimed that it had intercepted and destroyed multiple Ukrainian drones over several regions, including Moscow,…

November 26, 2023
Business

Gold Prices Surge in Pakistan, Tola Rate Sees Rs800 Increase

Pakistan's local market experienced a notable increase in gold prices, with the per tola (11.66 grams)…

November 26, 2023
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2023 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?