QUETTA : The Economic Coordination Committee (ECC) has approved financing agreements linked to the Reko Diq mining project and sanctioned a bridge-financing deal worth 390 million dollars for laying a 1,350-kilometer railway line.
According to Balochistan News Updates , Chaired by Finance Minister Muhammad Aurangzeb, the ECC meeting reviewed a summary submitted by the Petroleum Division seeking approval for final financing arrangements and financial commitments for the Reko Diq project. According to the Ministry of Finance, this approval clears the way for work to begin.
The committee endorsed the proposed terms and directed that if any significant changes are made to the finalized agreements after legal and financial experts’ review, they must be presented to the ECC again.
Balochistan News Updates
The ECC also considered a proposal from the Ministry of Railways to endorse a Rail Development Agreement with the Reko Diq Mining Company along with a 390-million-dollar bridge-financing arrangement to enable large-scale transportation of mineral exports from Balochistan.
The committee approved the plan and instructed the Railway Ministry to share copies of both agreements with the Finance Ministry for further analysis.
Additionally, it directed the Railways and Finance Ministries to present a progress report on project implementation by March next year.
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Finance Minister Muhammad Aurangzeb stated that the ECC’s approval reflects the government’s determination to advance this landmark initiative, which holds the potential to transform Balochistan’s economic landscape and bring wide-ranging benefits to the people of Pakistan.
