Pakistan, Barrick Gold agree to pay share of Reko Diq in Pakistani rupees

Barrick Gold Corporation and the government of Pakistan have agreed that the government's share of the investment in the Reko Diq project will be paid for in Pakistani rupees.

The understanding was reached during a meeting between Prime Minister Shehbaz Sharif and a delegation of Barrick Gold Corporation in Islamabad today, reported Radio Pakistan.

Company's Chief Executive Officer Mark Bristow led the Barrick Gold Corporation's delegation. He briefed the Prime Minister about the progress on the ongoing development work at Reko Diq.

Speaking on the occasion, the Prime Minister said the participation of international companies including Barrick Gold in the 'Pakistan Mineral Summit' is a manifestation of the restoration of confidence of international investors in Pakistan.

He said the success of the Mineral Summit and the restoration of the confidence of international companies like Barrick Gold in Pakistan became possible by the launch of the Special Investment Facilitation Council.

He said the Reko Diq project will be a game changer for the development of Balochistan and the region and will usher in a new era of development of the province and the prosperity of its people.

The premier also directed all the authorities concerned to fulfill their responsibility in the implementation of the project.

PM Shehbaz was briefed that a Community Development Committee has been constituted by Reko Diq to identify possible initiatives on a priority basis for the development and prosperity of the people of Balochistan.

It was further briefed that local elders who are part of the committee identify the projects for the development of the local people themselves.

The Prime Minister was informed that employment opportunities are being provided to the talented local people of Balochistan in the Reko Diq project and a significant amount of the investment will also be spent on the development of the local area.