ISLAMABAD: The foreign office of Pakistan released the names of countries attending the 23rd meeting of the Council of Heads of Government (CHG) of the Shanghai Cooperation Organization (SCO), scheduled for October 15-16 in Islamabad, notably excluding Afghanistan, while key member states like China, Russia and India are set to attend.
Afghanistan is not a full SCO member but holds observer status, which has reportedly remained inactive since September 2021, following the Taliban takeover.
Pakistan’s relations with Afghanistan have severely deteriorated for more than a year over the issue of cross-border militancy, with officials in Islamabad repeatedly accusing the Taliban-led government of “facilitating” armed groups responsible for attacks on Pakistani soil, an allegation denied by Kabul.
Tensions further escalated last year when Pakistan decided to expel Afghan refugees, citing national security concerns and the alleged involvement of some refugees in militancy and crime.
“Pakistan will be hosting the Twenty-third meeting of the Council of the Heads of Government (CHG) of the Member States of the Shanghai Cooperation Organization (SCO) from 15 to 16 October 2024 in Islamabad,” the foreign office said in a brief curtain raiser.
“SCO member States will be represented by the Prime Ministers of China, Russia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan as well as the First Vice President of Iran and External Affairs Minister of India,” it added. “Prime Minister of Mongolia (Observer State) and Deputy Chairman of the Cabinet of Ministers and Foreign Ministers of Turkmenistan (Special Guest) will also participate in the meeting.”
The foreign office said Prime Minister Shehbaz Sharif will preside over the SCO meeting in his capacity of the current chair of the CHG.
He will also hold important bilateral meetings with visiting heads of delegation on the sidelines of the summit.
The government has made extensive preparations for the event while focusing on both security and beautification of Islamabad.
According to Dawn newspaper, over 10,000 security personnel have been deployed to ensure the safety of around 900 international delegates.
Special efforts are also being made to enhance the appearance of the city, particularly along VIP routes and the Jinnah Convention Center where the summit will be held.
The prime minister himself has finalized the arrangements by visiting all these places.
The SCO meeting will discuss ongoing cooperation in the fields of economy, trade, environment, socio-cultural linkages and review the performance of the Organization.
The participants will adopt important organizational decisions to further enhance cooperation among SCO member states and approve the budget of the organization.
Pakistan lists SCO summit attendees, excluding Afghanistan, ahead of high-profile event
https://arab.news/m6jxv
Pakistan lists SCO summit attendees, excluding Afghanistan, ahead of high-profile event
- Afghanistan holds the SCO observer status that has reportedly remained inactive since Taliban’s 2021 takeover
- Pakistan has made extensive preparations for the summit, focusing on Islamabad’s security and beautification
Pakistan increases Reko Diq investment to $244 million as Barrick reviews project
- State-owned PPL injects $50.2 million more in special purpose vehicle formed to manage Islamabad’s 25 percent stake in copper-gold mine
- Canadian operator Barrick Mining Corporation this month ordered project’s review following deadly separatist attacks in Balochistan province
KARACHI: The state-run Pakistan Petroleum Limited (PPL) has invested an additional Rs14 billion ($50.2 million) equity in the multi-billion-dollar Reko Diq copper-gold mine, the company said in its latest financial report on Thursday, as the project’s Canadian operator reviews the project following recently deadly attacks.
Canada’s Barrick Mining Corporation owns a 50 percent share in Reko Diq in the southwestern Balochistan province, along with three Pakistani federal state-owned enterprises including PPL that own 25 percent, while the Balochistan government has the remaining 25 percent share in the project.
The Canadian company announced earlier this month it planned to “immediately” begin a comprehensive review of all aspects of the Reko Diq project following coordinated attacks in Balochistan on Jan. 30-31 that killed 36 civilians and 22 security forces personnel.
“With respect to the Reko Diq project, the company has made further equity investment in Pakistan Minerals Private Limited (PMPL) during the period amounting to Rs14,025 million ($50.2m),” PPL told its shareholders in its financial statement for the half year ending at Dec. 31.
The additional equity has increased PPL’s total cost of investment in the PMPL to Rs68.1 billion ($243.6 million), it added.
The PMPL is a special purpose vehicle formed to manage the federal government’s 25 percent stake in the Reko Diq project. It is a consortium of three state-owned enterprises (SOEs) namely the PPL, the Oil & Gas Development Company Limited (OGDCL) and Government Holdings (Private) Limited (GHPL) which is responsible for handling financing, equity contributions and strategic, legal or technical dealings with partners like Barrick.
“The project continued to advance site works during the period (July-December FY26),” the PPL said. “The operator (Barrick) is undertaking a review of all aspects of the project, including with respect to the project’s security arrangements, development timetable and capital budget.”
This week, Balochistan Chief Minister Sarfraz Bugti assured investors that Pakistan has the “capacity and capability” to secure the Reko Diq project amid surging militancy.
The PPL explores, drills, and produces oil and natural gas. Its current portfolio, together with its subsidiaries and associates, consists of 47 exploratory blocks that include one offshore Block-5 in Abu Dhabi and one onshore block in Yemen.
In December, PPL signed a strategic Deed of Assignment under which it assigned 25 percent of its participating interest (PI) and operatorship of Eastern Offshore Indus C block to Turkish Petroleum Overseas Company, a unit of state-owned Türkiye Petrolleri Anonim Ortaklığı.
Assigning 20 percent PI each to OGDCL and Mari Energies Limited, the company has retained the remaining 35 percent PI to play a key role in the block’s development.
