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ISLAMABAD: The Federal Cabinet has given formal approval to sign the final deal of Reko Diq project after detailed discussion on the reorganization of the project.
This came within a week after Supreme Court declared the newly agreed deal about Reko Diq as legal, in response to two questions asked in Presidential reference. The Supreme Court, on December 9, while announcing short opinion held that in settlement deal on Reko Diq project, there is no violation of SC 2013 judgment.
Also read: SC declares new Reko Dik agreement as legal
The Cabinet meeting was held in Islamabad the other day with Prime Minister Shehbaz Sharif in chair.
Speaking on the occasion, Prime Minister Shehbaz Sharif said the government will ensure protection of the rights of investors in all other investment projects including the Reko Diq project and all promises will be fulfilled.
The Federal Cabinet was also told that the opinion of the Supreme Court has already been taken regarding the Foreign Investment (Promotion and Protection) Bill, 2022 Amendment Act under discussion in the Parliament.
It may be recalled that on December 12, federal government approved a payment of more than $900 million to the Chilean company Antofagasta over six years to quit the Reko Diq project after the Supreme Court last week approved a settlement agreement worth more than $6.5 billion.
