Cabinet approves signing of Reko Diq deal

The Federal Cabinet approved the Reko Diq project and Pakistan is set to sign the Reko Diq final deal to meet the deadline of 15th December 2022.

The project was authorized at the cabinet meeting, which was presided over by Prime Minister Shehbaz Sharif, and it was determined that the Pakistani government will sign the agreement tomorrow (December 15). The president of Pakistan, Arif Alvi, signed the Foreign Investment Promotion and Protection Bill 2022, according to the news source. The purpose of this bill is to safeguard foreign investments made in the nation. 

According to the specifics, the federal cabinet has requested that the contract be signed on behalf of the government by the secretary or assistant secretary of petroleum in accordance with the Rules of Business 1973. The Reko Diq project financial plan decision made by the Economic Coordination Committee on December 11 received approval from the federal cabinet. 

The attendees were also made aware that the Supreme Court’s legal counsel had been consulted over the resolution of the Reko Diq project agreement. The Supreme Court noted that the Reko Diq project’s reconstitution procedure was transparent and that any agreements made in this regard are legitimate.

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