The Economic Coordination Committee (ECC) of the Cabinet on Tuesday assured full support for the Reko Diq mining project in Balochistan, terming it a project of immense national importance.
Chaired virtually by Finance Minister Muhammad Aurangzeb, who is presently in China for the Boao Forum for Asia 2025 summit, the meeting was attended by Petroleum Minister Ali Pervaiz Malik, Commerce Minister Jam Kamal Khan, Board of Investment Minister Qaiser Ahmed Sheikh, as well as the SECP chairman, federal secretaries, and senior officials from relevant ministries and divisions.
During its meeting, the ECC took up a summary moved by the Petroleum Division regarding changes in the overall development plan of Reko Diq, as well as related financial commitments and project finance considerations due to inflation and enhanced scope of the project concerning capacity, energy mix, alternative water supply options and updated processing plants and machinery.
Noting the factors that led to project escalations, the ECC approved the summary’s proposals and directed the ministries of Petroleum and Finance to continue close coordination with a view to ensuring timely implementation of all agreed actions.
The ECC also considered and approved a summary presented by the Interprovincial Coordination Ministry for a technical supplementary grant of Rs. 200 million under the development grant of IPC Division for the construction of PSB Coaching Center at Skardu. However, it urged the ministry to ensure that after its construction, the training facility remains operational and serves the desired purpose in terms of providing sports facilities to the local population and serving as a high-altitude training facility for athletes competing at national and international levels.