ISLAMABAD: Saudi Arabia is likely to invest $1 billion in Reko Diq copper and gold mine project in Pakistan’s southwestern Balochistan province, Pakistani state media reported on Sunday.
Located in the Chagai district, Reko Diq contains one of the biggest undeveloped copper and gold deposits in the world, with the potential to produce a large amount of these precious commodities for decades.
The project is owned 50 percent by Canada-based Barrick Gold Corporation, 25 percent by three federal state-owned enterprises, 15 percent by Balochistan on a fully funded basis, and 10 percent by Balochistan on a free carried basis, according to Barrick.
“A Saudi investment of up to one billion dollars is likely next month in the Reko Diq Copper Gold project located in Chagai district in Balochistan,” the state-run Radio Pakistan broadcaster reported.
“Special Investment Facilitation Council is trying to remove obstacles in this regard.”
Pakistan set up the SIFC, which also includes its army chief, in June last year with the sole purpose of reviving the frail economy, dented by low foreign exchange reserves, currency depreciation and record inflation.
In the subsequent months, Islamabad signed a number of bilateral agreements with brotherly countries in the Middle East during high-level engagements by caretaker PM Anwar-ul-Haq Kakar and Army Chief General Asim Munir.
Prime Minister Shehbaz Sharif will soon constitute a committee comprising finance ministry officials and all stakeholders in order to ensure smooth completion of the Saudi investment, according to the Radio Pakistan report.
“Following this investment, Pakistan and Saudi Arabia will sign agreements for further investment in the mining sector,” the report read.
Saudi Arabia likely to invest $1 billion in Reko Diq project — Pakistani state media
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Saudi Arabia likely to invest $1 billion in Reko Diq project — Pakistani state media
- Located in Pakistan’s Balochistan, Reko Diq contains one of biggest copper, gold deposits in world
- The project has the potential to produce a large amount of these precious commodities for decades
Pakistan’s Punjab deports more than 31,000 Afghans under nationwide removal campaign
- Police say hundreds more Afghans remain in holding centers as repatriation process continues
- Pakistan has expelled over 1.5 million Afghans since launching the drive campaign in late 2023
ISLAMABAD: Police in Pakistan’s Punjab province said on Saturday they have deported more than 31,000 Afghan nationals living in various districts without legal documentation, as authorities continue a sweeping campaign to expel such people.
Pakistan launched its nationwide deportation drive in late 2023, ordering all “illegal immigrants,” mostly Afghan nationals, to leave the country. The decision was taken after a series of deadly suicide attacks in which the government said Afghan nationals were involved. Kabul denied its citizens were involved in the bombings, describing Pakistan’s security challenges as its own internal issue.
Last month, state broadcaster Radio Pakistan said Islamabad had repatriated over 1.5 million Afghan citizens since November 2023.
“The Punjab Police have so far deported 31,377 Afghans among other illegally residing foreign nationals from Lahore and across the province,” the law enforcement agency said in a statement.
“Another 203 undocumented individuals are currently present in holding points,” it added.
The statement did not specify the period in which these people were rounded up and sent back to their home countries.
According to the statement, the deportees include 11,576 men, 6,679 women and 13,133 children.
Police said those removed comprised individuals with partial documentation such as proof of residence (10,043 people), Afghan Citizen Cards (11,067) and those found to be living illegally (10,267).
“There are five holding centers in Lahore and 46 across the province,” the statement said.
The province’s top cop, Inspector-General of Police Dr. Usman Anwar, said security had been heightened to ensure the removal of undocumented foreign nationals.
“Punjab Police is implementing the policy for the evacuation of illegally residing foreigners under international laws,” he said. “Human rights are being fully taken into account during the process.”
Pakistan has hosted millions of Afghans since the Soviet invasion of Afghanistan in 1979, but deteriorating security concerns and strained relations with Kabul have led Islamabad to initiate the latest deportation campaign, which rights groups have criticized as abrupt and lacking adequate safeguards.
