Federation is a stakeholder in Reko Diq project: CJP Bandial   

By: News Desk
Published: 06:11 PM, 22 Nov, 2022
Federation is a stakeholder in Reko Diq project: CJP Bandial   
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The Chief Justice of Pakistan Umar Atta Bandial has observed that the federal government is a stakeholder in the Reko Diq project, so there is no issue with the provincial government's investment permission. 

According to the 24NewsHD TV channel, the Supreme Court of Pakistan on Tuesday heard the presidential reference on the Reko Diq agreement.

A five-member larger bench headed by Chief Justice of Pakistan (CJP) Justice Umar Ata Bandial and comprising Justice Ijazul Ahsan, Justice Muneeb Akhtar, Justice Yahya Afridi, and Justice Jamaal Khan Mandokhel heard the presidential reference filed in the case.

The president on the advice of Prime Minister Shehbaz Sharif had filed the reference seeking the top court’s opinion on the Reko Diq settlement agreement. 

 Makhdoom Ali Khan, the lawyer of Barrack Gold, the investor company in the Reko Diq project told the court that provincial governments can enter into commercial international projects, however, the provinces cannot enter into state-level agreements. 

He said that his company wants court guidelines to avoid legal complications like the previous Reko Dig agreement. 

He said that the company is investing $4.297 billion in the project which is a big investment in Pakistan’s history. 

The Chief Justice ordered the company’s council to inform the court about the transparency of the Reko Diq agreement. 

Makhdoom Ali Khan told the court that Pakistan's $9 billion fine will be waived if the Reko Dig agreement is reached on December 15. 

After the agreement, the expected penalty of the International Criminal Court will also end, Makhdoom Ali Khan said. He also 

He said that the extracted gold and copper deposits would be sent abroad through the port and the company will build an underground pipeline from Reko Dig to the port in Balochistan. 

The lawyer further stated in his arguments that Barrack Gold will also do roads and community development in Balochistan. “The project will provide 7,000 temporary jobs in Balochistan first and then provide 4,000 jobs permanent,” added Makhdoom Ali Khan. 

The court adjourned the hearing of the case till tomorrow. 

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