Caretaker Prime Minister Anwarul Haq Kakar recently expressed optimism about finalizing the agreement for the sale of Reko Diq shares to Saudi Arabia, with a target completion date set for December.
Pakistan’s Satisfaction with the Saudi Offer
In an interview with Arab News, the interim Prime Minister conveyed Pakistan’s satisfaction with the offer made by Saudi Arabia for the Reko Diq project. He emphasized the country’s support for this prospective partnership.
Addressing Concerns about Barrack’s Share Sale
Responding to questions regarding the sale of shares by Barrack, a partner company in the Reko Diq project, and concerns about potential loss of equal rights in the project, Kakar made it clear that these discussions constitute a component of a business contract. The government encourages Saudi Arabia’s participation in the project, and updates on the agreement’s progress will be shared once negotiations are concluded.
Exceptions and Progress Regarding PEPRA Rules
During the interview, Kakar addressed inquiries about any exceptions made by the cabinet to the Public Procurement Regulatory Authority (PEPRA) rules concerning the appointment of the negotiation committee and financial adviser to determine the December deadline for the petroleum division to purchase Reko Diq shares. He noted that the process to meet the December deadline is ongoing, and there is hope for the deal to be completed as planned.
