Pakistani PM ‘hopeful’ of December deal with Saudis to buy stake in Reko Diq project

Pakistani Caretaker Prime Minister Anwaar-ul-Haq Kakar speaks during an interview to Arab News Pakistan in Islamabad, Pakistan, on November 6, 2023. (AN photo)
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Updated 07 November 2023
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Pakistani PM ‘hopeful’ of December deal with Saudis to buy stake in Reko Diq project

  • In exclusive interview with Arab News, Anwaar-ul-Haq Kakar confirms talks with Saudi Arabia to buy stakes in $7 billion project
  • This is the first time Pakistan has publicly stated it is considering selling, Riyadh has not yet commented on the mining project

ISLAMABAD: Pakistani Caretaker Prime Minister Anwaar-ul-Haq Kakar has said his government hopes to conclude a deal by December for Saudi Arabia to buy stakes in Reko Diq, one of the world’s biggest gold and copper mining projects, in the first time Islamabad has officially confirmed it is considering selling shares.
Barrick Gold owns a 50 percent stake in the Reko Diq mine, with Pakistan’s federal government holding a 25 percent share and the regional government in Balochistan, where the reserves are located, owning the rest. Barrick considers the mine one of the world’s largest underdeveloped copper-gold areas, with the over $7 billion project capable of producing 200,000 tons of copper and 250,000 ounces of gold a year for more than half a century.
Barrick CEO Mark Bristow has repeatedly said the company’s stake wasn’t up for sale but it had no objection if Saudi Arabia wanted to buy out the equity of the Pakistan government, which would mean the South Asian country would no longer be able to maintain equal shares as the Canadian mining company.
In a wide-ranging interview with Arab News on Monday, PM Kakar confirmed negotiations with Saudi Arabia to buy stakes in Reko Diq and said he was “hopeful” of a deal by December. Riyadh has not yet commented on its interest in the mining project.
“We are quite excited at the Saudi offer, and we would be very much encouraging their participation, not just in this project but otherwise also,” Kakar said when asked if it was acceptable to the Pakistan government to sell its equity to Saudi Arabia and lose out on holding equal stake in the mines.
“It is the negotiation part, which is happening between the three parties, and let’s see what sort of outcome comes of that ... We are just a government that would encourage the Saudis to be part of this deal and the rest of the nitty gritty details, when they reach a certain decision, we’ll share the news.”




Pakistani Caretaker Prime Minister Anwaar-ul-Haq Kakar (right) speaks during an interview to Arab News Pakistan in Islamabad, Pakistan, on November 6, 2023. (AN photo)

Last month, the federal cabinet granted exemptions to the Petroleum Division from Public Procurement Regulatory Authority rules to propose a negotiating committee and hire an additional adviser to finalize binding agreements with Saudi Arabia by December 25. The UAE-based RB&A Partners consulting firm has reportedly been hired as a specialist adviser to help meet the deadline.
“We are still approaching that day,” Kakar said when asked if his government would succeed in meeting the December 25 deadline. “Hopefully [we can expect a deal by December].”
In August, Pakistan hosted officials from Saudi Arabia in its inaugural mining conference in Islamabad where Barrick officials were also present. Barrick and Saudi’s state-owned mining company Ma’aden jointly operate a copper project in Jeddah.
Saudi Arabia’s Public Investment Fund (PIF) has been looking to invest in copper projects across the world as part of its drive toward funding energy transition projects. Earlier this year, PIF agreed to acquire a 10 percent stake in Brazilian mining company Vale base metals business.
“ONE WINDOW OPERATION”
A joint venture by Barrick and Chile’s Antofagasta discovered the vast mineral deposits of Reko Diq more than a decade ago at the foot of an extinct volcano in the Balochistan region which borders Iran and Afghanistan. But Barrick’s license to mine the untapped deposits was canceled after the Pakistani Supreme Court in 2011 ruled illegal the award granted to the Canadian firm and Antofagasta.
In an out of court agreement last year, Barrick ended the long-running dispute with Pakistan and agreed to restart development. Under the deal, the company withdrew its case in an international arbitration court, which had slapped a penalty of $11 billion on Pakistan for suspending the contracts of the company and its partners in 2011. Antofagasta, however, left the project, saying its growth strategy was focused on production of copper and by-products in the Americas.




A small toy figure and gold imitation are seen in front of the Barrick logo in this illustration taken November 19, 2021. (REUTERS/File)

Kakar said in the future, a new Special Investment Facilitation Council (SIFC) set up in July would serve as a “one window operation” to address any concerns of foreign investors.
“Two or three areas have already been addressed, like repatriation of dollars, which is the demand of any FDI [foreign direct investment] entity, [that] it’s insured, it’s legally protected,” the PM said.
“Secondly, the bureaucratic red tapism has been also addressed, the one-window opportunity on the platform of SIFC is primarily being designed for this purpose, that we need to cut off all these bureaucratic hurdles and rationalize the entire process of allowing and giving permission to any investment from outside within 15 days.”
He said a dispute resolution mechanism had been agreed under the SIFC platform.
“It’s quite encouraging and favorable, which is acceptable to all the outside parties … The dispute resolution mechanism has been addressed.”
When asked if reports that SIFC would bring in up to $60 billion in investments in Pakistan in the next five years were realistic, the PM said:
“It is indeed. It could be probably more than that.”


Pakistan reaffirms commitment to UN peacekeeping on International Day of Police Cooperation

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Pakistan reaffirms commitment to UN peacekeeping on International Day of Police Cooperation

  • Pakistan says it has contributed 235,000 troops to 48 peacekeeping missions in 29 countries since 1960
  • Over 180 Pakistanis deployed in different parts of the world have died during these UN operations

ISLAMABAD: Pakistan’s Permanent Mission to the United Nations on Saturday reaffirmed its commitment to UN peacekeeping missions while marking the International Day of Police Cooperation, noting its police contingents have actively contributed to global peace by serving the world body since the 1960s.
UN peacekeeping operations, carried out in conflict zones, are crucial in maintaining security, protecting civilians and fostering sustainable peace in post-conflict areas.
In May, Pakistan announced it had contributed 235,000 troops to 48 missions in 29 countries since 1960.
A month later, Interior Minister Mohsin Naqvi pledged to send 128 additional police officers to UN peacekeeping forces after meeting with UN Secretary General Antonio Guterres in New York.
“Since the 1960s, Pakistan’s police have actively contributed to United Nations’ peacekeeping missions in countries such as Sudan, Haiti, Kosovo, and the Democratic Republic of the Congo,” the Pakistani diplomatic mission said in a social media post. “Their roles include maintaining law and order, training local police forces, and providing security for humanitarian operations.”
It said Pakistan also deploys female officers, enhancing their ability to engage with vulnerable groups, adding the professionalism of the country’s police has earned them international recognition.
“On the International Day of Police Cooperation today, we reiterate our resolve to continue working under the @UNPeacekeeping to promote global peace, security and stability,” it continued.

 
According to the Pakistan military’s statement, more than 180 Pakistanis deployed in different parts of the world have died during the peacekeeping operations.


‘Colonizer to colonized’: Pakistani photographer travels from London to Quetta ‘without flying’

Updated 9 min 41 sec ago
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‘Colonizer to colonized’: Pakistani photographer travels from London to Quetta ‘without flying’

  • Danial Shah’s 58-day-journey brought him home to Quetta via trains, ferries, buses and taxis at a cost of $2,509
  • Historic Quetta-London Road was once a popular route for international tourists and considered a ‘gateway’ to Europe

QUETTA: Earlier this year, Danial Shah, a Pakistani photographer and filmmaker currently pursuing a doctorate in visual and performing arts in Brussels, got an idea: to travel from the land of the colonizer, Britain, which had ruled the Indian subcontinent from 1858 to 1947, to the land that was colonized, present day Pakistan — but without flying.

Thus began a journey that took him from London to the southwestern Pakistani town of Quetta, the city of his birth, via trains, ferries, buses and taxis at a cost of $2,509.

“I wanted to start my journey from London, the reason is that Britain ruled our country for a long time, colonized us and it is Britain that gives us [Pakistanis] visas with great difficulty,” Shah, a 35-year-old documentary filmmaker and photographer, told Arab News in an interview in Quetta.

Pakistani photographer and backpacker Danial Shah, who travelled from London to Quetta in 58 days via trains, ferries, buses and taxis, uses his phone in a street in Quetta on September 3, 2024, during an interview with Arab News. (AN Photo)

“So I thought if I get a visa, I will start my journey from the place where the colonizer lives and reach the place which they colonized.”

Spending his early childhood in Quetta, Shah was always thrilled by the stories of foreign travelers who frequented the area and often arrived using what was dubbed the historic Quetta-London Road, once a popular route for international tourists and considered a ‘gateway’ to Europe.

“I often used to see foreigners here and when you asked someone their story, they would say, ‘We have come from Germany, from London, traveling through Turkiye and Iran’,” Shah said. “So, when I found time, I thought I should go on this journey also.”

This map, shared by Pakistani photographer and backpacker Danial Shah, shows his journey from London to Quetta. Shah’s 58-day-journey brought him home to Quetta via trains, ferries, buses and taxis at a cost of $2,509. (Photo courtesy: Danial Sheikh)

Frequent public commuting through the Quetta-London route, stretching over thousands of miles, began after the end of World War I and people even used it to travel to Saudi Arabia to perform Hajj, according to Dr. Irfan Ahmed Baig, a Quetta-based historian and author of the Urdu-language book ‘Quetta My City.’ European tourists choose the route to enter Turkiye via Greece and continued onwards to the Middle East and Asia. The route was diverted to Central Asia from Afghanistan, from where to leads to India and Bangladesh via Pakistan.

“A Quetta-London bound bus service was started in the 1950 but it was suspended due to unknown reasons,” Baig told Arab News. “During the Soviet Union’s incursion on Afghanistan, tourist movement through this route declined due to security reasons.”

Shah’s journey through a stretch of the route also did not come without difficulty as he faced strict border security checks on account of holding a Pakistani passport, considered one of the weakest travel documents according to global rankings, and amid fears about human smuggling and illegal migration.

This photo, posted on August 11, 2024 on Instagram, shows Pakistani photographer and backpacker Danial Shah, who travelled from London to Quetta in 58 days via trains, ferries, buses and taxis, at the Albania Museum in Tirana, Albania. (Photo courtesy: Danial Shah)

“At various border crossing points, I was the only one off-boarded from buses and questioned by border security forces,” he said.

But he powered on and the journey that began in London on July 3 took him through Europe, the Balkans and the Middle East, to Pakistan’s Balochistan province on August 21.

“From London, I traveled to France. From France, I went to Italy, where I took a boat to Croatia. From Croatia, I went to Serbia, Serbia to Bosnia, and from Bosnia to Montenegro, Albania,” the University of Antwerp student said.

“From Albania, I entered Greece. Then I took a boat from Greece to Turkiye and from Turkiye I took a bus to Iran. From Iran I traveled through buses and taxis and reached Pakistan.”

He said he was grateful for the people he met along the way and the hospitality and warmth he was offered.

“I enjoyed Bosnia the most, followed by Albania, and then Turkiye and Iran, because their manner of hospitality is similar to our Quetta,” Shah said.

His next plan is to save up for journeys to ever new countries and cultures.

This photo, posted on August 22, 2024 on Instagram, shows Pakistani photographer and backpacker Danial Shah, who travelled from London to Quetta in 58 days via trains, ferries, buses and taxis, in Iran. (Photo courtesy: Danial Shah)

“I wish to plan a year-long journey after saving some money to see more countries and additional stay,” Shah said, “because I met many people who were on the same route but traveling to Central Asia via Iran and Afghanistan to Vietnam.”


Pakistan deputy PM calls PIA flight restoration ‘major priority’ in talks with UK officials

Updated 21 min 42 sec ago
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Pakistan deputy PM calls PIA flight restoration ‘major priority’ in talks with UK officials

  • Ishaq Dar says the government will start receiving bids for PIA privatization from October 1
  • Deputy PM tells the media his five-day visit to London as ‘potentially very useful’ for Pakistan

ISLAMABAD: Deputy Prime Minister Ishaq Dar on Saturday described restoring Pakistan International Airlines (PIA) flights to the United Kingdom and other European countries as a “major priority,” saying that he raised the issue with British officials during his five-day visit to London, which he called beneficial for the country.
The suspension of PIA flights to the UK and Europe followed a 2020 plane crash in Karachi that killed 97 people. This was compounded by a controversial statement from Ghulam Sarwar Khan, the aviation minister in former Prime Minister Imran Khan’s administration, who asserted that a significant number of Pakistani pilots held fake licenses, leading to the European Union Aviation Safety Agency (EASA) ban on PIA.
Since then, the airline has undergone multiple audits to address safety and operational concerns in hopes of restoring international routes.
Addressing a news conference in London, Dar criticized the former aviation minister’s “irresponsible statement,” saying Pakistan had since made every effort to resume PIA flights.
“I told the [British] deputy prime minister [Angela Rayner] that it is a serious matter for our community and diaspora,” he said during the media interaction at the Pakistan High Commission. “It is a major priority. So, we will continue to engage and will not sit and relax until as long as this thing is done.”
Dar noted that while restoring flights to Britain and Europe was important, advancing the privatization process of the national airline was equally vital.
“We will start receiving the first round of bids for PIA [privatization] on October 1,” he said, adding the government was also outsourcing Islamabad airport operations, with bids expected next month.
He further emphasized that his visit to Britain had been highly productive.
“I believe that my visit was extensive, busy and potentially very useful for Pakistan,” he said.
This was Pakistani deputy prime minister’s first visit to Britain following the change of government in the UK, where the Labour Party won the general elections in July and returning to power after 14 years.


Ex-PM Khan party holds rally in Islamabad today to press for his release

Updated 08 September 2024
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Ex-PM Khan party holds rally in Islamabad today to press for his release

  • Khan, who has been in jail since August, has waged an unprecedented campaign of defiance against Pakistan’s military since his ouster in April 2022
  • His PTI party has struggled to hold rallies across Pakistan and says it has been facing a state-backed crackdown, an allegation denied by authorities

ISLAMABAD: Jailed former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party is holding a rally in Islamabad today, Sunday, to press authorities for the release of the ex-premier, who has been facing a slew of cases.
Khan, who has been in jail since August on charges of corruption, treason and attempting to incite a mutiny in the military, has waged an unprecedented campaign of defiance against Pakistan’s military since his ouster in a parliamentary no-trust vote in April 2022.
He has accused the then army leadership of orchestrating his ouster together with his political rivals as part of a United States-backed “foreign conspiracy.” The military, Khan’s rivals and Washington have repeatedly denied this.
His PTI party aims to mobilize the public for the release of the former cricket star who has a devoted following, but has struggled to hold rallies across the country. The party this week said it got permission for the rally in Islamabad, which was canceled twice in recent months.
“We are holding this rally as per the law and the constitution,” PTI member Aamir Dogar was quoted as saying by the party on X. “Efforts should not be made to prevent it.”


The party has also announced simultaneous protests outside the Pakistani embassy in London and in other parts of the world.
“Everyone must attend the all important protest tomorrow in London outside the Pakistan embassy,” Sayed Zulfikar Bukhari said on X. “It will be a historic turnout in Islamabad, London and world over. This is the beginning of our peaceful protests in Pakistan and world over. It’s a duty upon us to stand up.”

The PTI says it has been facing a state-backed crackdown and the mass arrest of its members and supporters for standing by Khan. Pakistani authorities deny the allegations.
The action against the PTI began after people carrying its party flags attacked and damaged government and military installations on May 9, 2023, after Khan’s brief arrest that day in a graft case.
Hundreds of PTI workers and leaders were arrested following the May 9 riots and many remain behind bars as they await trial. The military has also initiated trials of at least 103 people accused of involvement in the violence.
Khan recently made a “conditional” offer of talks to the army, if “clean and transparent” elections were held and the “bogus” cases against his supporters were dropped. The military, which has repeatedly said Khan and his party were behind the May 9 attacks, has ruled out any talks with him.


Bodies of three Pakistani climbers retrieved after nine years from Sarwali Peak in Azad Kashmir 

Updated 07 September 2024
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Bodies of three Pakistani climbers retrieved after nine years from Sarwali Peak in Azad Kashmir 

  • The missing climbers, Imran Junaidi, Usman Khalid, and Khurram Shehzad, embarked on a journey to summit Sarwali Peak in Neelum district in August 2015
  • The bodies of the missing climbers were spotted by two trekkers last month, after which a mission involving two dozen volunteers was launched on Sept. 3

KHAPLU: A team of Pakistani climbers and porters has retrieved bodies of three local mountaineers who had gone missing on 6,326-meter Sarwali Peak in Azad Kashmir nine years ago, an official and volunteers said on Saturday.

Sarwali Peak, also known as Dabbar Peak, in Azad Kashmir’s Neelum District is believed to be one of the few unconquered mountain peaks in the region, with no confirmed ascent till date.

The missing climbers, Imran Junaidi, Usman Khalid and Khurram Shehzad, had embarked on a journey to summit the Peak in August 2015, but went missing while attempting a push on the right saddle of the mountain.

A comprehensive search operation was launched on September 7, 2015 to locate the missing climbers, but no trace of them could be found.

“The bodies of all three missing climbers were spotted last month by two trekkers,” Akhtar Ayoub, in-charge of the Azad Kashmir State Disaster Management Authority (SDMA) in Neelum district, told Arab News. 

“A special rescue team was formed to retrieve the bodies and today, their bodies and remains were retrieved from the advance base camp side.”

Two dozen volunteers, including climbers, rescuers and porters, took part in the mission and brought down the bodies from a height of 16,000 feet, according to the official. The team departed on the mission on Sept. 3 and retrieved the bodies today, Saturday.

“We found the bodies near the advance base camp at the right saddle of the mountain,” Imran Arif, a member of the recovery team, told Arab News, adding that all three had been identified.

Arif said he and his fellow had spotted the bodies while trekking on the mountain on August 12.

“We preserved the bodies and came back to Kel Valley. Four days ago, we went for the rescue mission and today their dead bodies have been shifted to a hospital of Kel Valley,” he said.

“State Disaster Management Authority, district administration, Rescue 1122 and Alpine Club of Pakistan played a good role in this mission.”

Ikram Junaidi, bother of late climber Imran Junaidi, told Arab News they would now find a final resting place for his brother.

“Many attempts were made to find them in the past. But after nine years, we got news about the retrieval of dead bodies. Being a brother and a Muslim, it was our dream to offer funeral prayers for him. Now we will get a chance,” he said. “What matters is the quality of life instead of quantity. My brother went for expeditions on unclimbed peaks.”

Ikram said his mother had lost all hopes of finding Junaidi’s body, but she would now find solace in the fact that her son’s body had finally been recovered.