Daily Times

Barrick Gold delegation meets PM; Shehbaz says Reko Diq project will prove to be game changer for Balochistan, region

ISLAMABAD: A delegation from Barrick Gold Company, led by Chief Executive Officer Mark Bristow, met Prime Minister Shahbaz Sharif on Friday. They informed him that the feasibility study for the Reko Diq project in Balochistan would be completed by the end of the current year.

The prime minister expressed his belief that the Reko Diq project would be a game changer for the development of Balochistan and the wider region. He stated, “This project will usher in a new era of development of the province and prosperity of the people.”

He also said planning would be done regarding communication infrastructure, particularly railway lines, to fully utilise Balochistan’s mineral resources. Furthermore, the prime minister urged Barrick Gold to consider investing in other mineral projects within the province. He suggested potential collaboration between the government and Barrick Gold to establish a technical university in Chagai district.

The government, he noted, is committed to facilitating investors, particularly in the areas of road and communication systems. In terms of the progress of the Reko Diq project, the Barrick Gold delegation reported that the feasibility study would indeed be concluded by the end of the current year. They highlighted the company’s prioritisation of employing local and Balochistan domiciled individuals for the project. Additionally, Barrick Gold disclosed their efforts in corporate social responsibility, including the establishment of three schools near Reko Diq and the provision of technical training to 100 individuals, including women.

The meeting was attended by Petroleum Minister Musadik Malik, Federal Minister for Law and Justice Azam Nazir Tarar, Deputy Chairman of the Planning Commission Muhammad Jehanzeb, and other relevant senior government officials. Separately, Shehbaz Sharif on Friday constituted a six-member Cabinet Committee on Energy (CCoE) in order to ensure the smooth implementation of energy projects “currently underway or in the pipeline”. According to a notification issued by the Cabinet Division, the six-member committee will be chaired by Prime Minister (PM) Shehbaz Sharif himself. The cabinet committee on energy also comprises of finance minister, power minister, planning minister, petroleum minister, economic affairs minister. The committee will ensure the smooth implementation of energy projects currently underway or in the pipeline, in particular projects falling under the umbrella of the China-Pakistan Economic Corridor (CPEC).

It will also identify and remove bottlenecks in the expeditious implementation of relevant projects. It has been ordered to review the current energy policy and remove its weaknesses.

The committee will also identify the flaws and deficiencies of the existing legal and institutional framework governing the energy sector and formulate reform initiatives.

The energy committee will also conduct inter-ministerial coordination whenever required, but at least once every fortnight. It will ensure adequate stocks of petroleum products in the country through policy/administrative measures. It will develop efficient energy markets through deregulation within limits allowed by regulators; and reduce theft losses in energy sector and to pass on benefits to consumer.