Reko Diq Copper/Gold Mine Project a boon for Balochistan:
As the controversial legal case and internal resistance around Reko Diq comes to closure upon new agreements between Pakistan and Canadian Firm Barrick, a new era of investments and economic growth awaits Balochistan (1)
As the controversial legal case and internal resistance around Reko Diq comes to closure upon new agreements between Pakistan and Canadian Firm Barrick, a new era of investments and economic growth awaits Balochistan (1)
The summary of new agreement developments are as follows:
- The Canadian Firm would bear the initial capital cost around $7-8 Billion to develop the project
- The Canadian Firms share reduced to 50% as compared to earlier 75%. The remaining 50% is to be shared between (2)
- The Canadian Firm would bear the initial capital cost around $7-8 Billion to develop the project
- The Canadian Firms share reduced to 50% as compared to earlier 75%. The remaining 50% is to be shared between (2)
the Government of Balochistan (35%) and Three Pakistan State Owned Enterprises (15%) i.e OGDCL, PPL and GHPL.
- The share of economic benefits to Pakistan increased to 63 % (financial effect approx $64 Billion) as compared to only 41 % in the previous agreement (3)
- The share of economic benefits to Pakistan increased to 63 % (financial effect approx $64 Billion) as compared to only 41 % in the previous agreement (3)
- Substantial increase in royalty to the Government of Balochistan (now 5%)
- Annual income of approximately Rs 150 Billion to Government of Balochistan for 35 years.
•Estimated direct job creation in projected at 8000 skilled / non-skilled while 12000 indirect job
(4)
- Annual income of approximately Rs 150 Billion to Government of Balochistan for 35 years.
•Estimated direct job creation in projected at 8000 skilled / non-skilled while 12000 indirect job
(4)
- Deal capitalizing updated Baluchistan Mineral Rules and National Mineral Policy making sure no discriminatory incentives accorded to Barrick Gold
- $11 Billion fine case on Pakistan also resolved saving another major national financial cost (5)
- $11 Billion fine case on Pakistan also resolved saving another major national financial cost (5)
Over all the Reko Diq project is perhaps Balochistan’s most important door opener towards a new wave of economic development and wealth creation through a series of foreign direct investments in Billions new stream of Gov revenue generation and job creation in the thousands (6)
As a result, Balochistan can expect new infrastructure development, new services availability and greater sustainability through reduction of poverty
it is also hoped that the economic uplift of the poor will also cause reduction in violence and (7)
it is also hoped that the economic uplift of the poor will also cause reduction in violence and (7)
miss guided youth’s temptation to join foreign backed terrorist organizations for money.
Additionally it serves as a counter to those who claimed Balochistan is only open to Chinese investments
(8)
#Reko_Diq
#Balochistan
#RisingPakistan
#Canada
Additionally it serves as a counter to those who claimed Balochistan is only open to Chinese investments
(8)
#Reko_Diq
#Balochistan
#RisingPakistan
#Canada
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