‘Not on our watch’: Pakistan PM says won’t let Imran Khan supporters ‘destroy’ economy

Pakistan’s Prime Minister Shehbaz Sharif chair the meeting of federal cabinet in Islamabad on October 22, 2024. (PMO/File)
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Updated 27 November 2024
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‘Not on our watch’: Pakistan PM says won’t let Imran Khan supporters ‘destroy’ economy

  • Thousands of Khan supporters protested in Pakistan’s capital on Tuesday, clashing with law enforcers 
  • Pakistan’s finance ministry says recent protests by Khan’s party cost country a whopping $684 million per day 

ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday vowed not to let former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party “destroy” the country’s economic progress, lamenting that the recent protests in Islamabad had cost the national exchequer a whopping Rs190 billion ($684 million) per day. 

Thousands of supporters of Khan’s PTI entered Pakistan’s capital on Tuesday morning, braving teargas and arrests and crossing security barriers across the country. Pakistan’s government said clashes between Khan supporters, who were demanding the jailed former premier’s release from prison, left three Rangers personnel and one cop dead. The PTI says eight of its supporters were killed and “hundreds” were feared dead, a claim the government challenges. 

Khan supporters fled the capital after security forces launched a sweeping midnight raid on Tuesday. The party, however, has said its sit-in protest against the government will continue, without specifying where it will take place. 

“My heart cries tears of blood that after working so hard, we should let Pakistan be destroyed at the hands of such anarchists and enemies of the state? 

“It is not possible, it will not happen. Not in our time, not on our watch. It will not happen, god willing,” Sharif said. “Together we will take Pakistan out of this.”

Sharif cited the finance ministry’s statement which had earlier this week said Pakistan suffered losses of $684 million per day due to the protests. 

The prime minister urged the government to think about the future course of action regarding these protests, saying that it cannot be “business as usual.”

“We cannot let Pakistan be sacrificed under any circumstances,” Sharif said. “We will break the hand that wants to sacrifice Pakistan.”

The PTI’s protest took place during a three-day visit by the president of Belarus, who arrived in Islamabad with a 68-member delegation from his country, to take part in talks related to trade and investment. 

Khan, who was ousted from power in a parliamentary no-trust vote in 2022, has been in prison since last year. He faces a slew of charges from terrorism to corruption that he says are politically motivated to keep him in jail and away from politics. 

The charges kept Khan away from Feb. 8 general elections that his party says were rigged, an accusation denied by the election commission. 


Pakistan increases Reko Diq investment to $244 million as Barrick reviews project

Updated 19 February 2026
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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.