ISLAMABAD – The Economic Coordination Committee (ECC) has approved major agreements, clearing the path for the long-awaited Reko Diq Project to move forward.
The meeting, chaired by Finance Minister Muhammad Aurangzeb, reviewed proposals submitted by the Petroleum Division regarding financial commitments and definitive agreements. After detailed discussion, the ECC approved the final terms, while instructing that any major deviations must be resubmitted for approval.
The committee also approved a rail development agreement and a bridge financing arrangement with the Reko Diq Mining Company. Under this plan, USD 390 million will be provided to develop a 1,350 km railway track. This railway will be essential for transporting large volumes of export material from the copper and gold mines in Balochistan.
The ECC directed the Ministry of Railways to share the agreement documents with the Finance Division for appraisal. Both the Finance and Railways ministries will also submit an update on execution and progress by March next year.
Finance Minister Aurangzeb said the ECC’s decision reflects the government’s strong commitment to advancing the Reko Diq Project. He noted that the project holds vast potential to transform the economic future of Balochistan.
“The Reko Diq Project will unlock one of the world’s largest undeveloped copper-gold deposits,” the minister stated. “It will create jobs, drive infrastructure growth, and deliver long-term benefits for the people of Pakistan.”
The meeting was also attended by Petroleum Minister Ali Pervaiz Malik, National Food Security Minister Rana Tanveer Hussain, Investment Minister Qaiser Ahmed Sheikh, as well as federal secretaries and senior officials from relevant ministries and regulators.
In other news read more about: ECC Approves Agreements Related to Reko Diq Project Financing
