Prime Minister Shehbaz Sharif on Tuesday ordered the relevant authorities to link the Reko Diq project in Baluchistan with the Pakistan Railway line network for 2028 to meet the requirements of future transport and load services.
In January, the Manara Manara Mineral Fund from the Manara Fund of Saudi Arabia said it was scheduled to buy a 10-20 percent participation in the Reko Diq Copper and Gold project in Pakistan to obtain profits from around $ 500 million to $ 1 billion.
In April, the Shareholders of the joint company Reko DIQ approved the updated feasibility study of the project and properly approved the development capital of phase 1 associated, subject to obtaining up to $ 3 billion in financing of the project.
While chairing a meeting today, Prime Minister Shehbaz issued orders for the formation of an Inter Ministerial Committee to take care of financing issues to improve and develop Pakistan railroads.
The Committee will present recommendations on the financing required for the development of Pakistan Railways and its extension to Reko Diq.
During the meeting, the prime minister was informed about the improvement of the ML-1 and ML-3 railroad, as well as the general development of the Pakistan railroads to meet the requirements of future transport and cargo services.
The prime minister said that Pakistan Railways served as a backbone for the country’s economy and communication.
“Pakistan Railways is a cheap, fast and friendly source of environment,” said Prime Minister Shehbaz.
He added that the mines and the Baluchistan mineral sector will be developed, and new employment opportunities will be created for people in the area after linking railroads with Reko Diq.
The meeting was attended by the Vice Prime Minister and Minister of Foreign Affairs, Ishaq Dar, Defense Minister Khawaja Asif, Minister of Economic Affairs, Ahad Khan Chema, Minister of Maritime Affairs, Junaid Anwar Chaudhry, Minister of Railways Billal Azhar Kayani, special assistant of the Prime Minister Tariq Fatemi and high government officials.
