President Dr. Arif Alvi has filed a reference in the Supreme Court of Pakistan seeking its validation for the new Reko Diq project deal.
The reference, filed on the advice of Prime Minister Shehbaz Sharif, will ask for the apex court’s opinion regarding the settlement agreement of the Reko Diq project with Barrick Gold Corp.
Reportedly, the government has sought the court’s opinion that whether the deal falls in compliance with the apex court’s earlier judgment in the Maulvi Abdul Haq case. Alongside, the government has also sought the court’s viewpoint regarding the compliance of the proposed Investment Protection Act with the constitution.
Earlier, the federal cabinet approved getting parliamentary approval as well as filing a presidential reference in the Supreme Court in this regard.
In March 2022, the government of Pakistan entered into an agreement with a Canadian-based mining company, Barrick Gold Corporation, to restart work on developing the Reko Diq mine. Barrick Gold had asked the government to get both parliament’s and the court’s nod of approval for the Reko Diq project deal owing to the project’s controversial history.
In 2011, SC stopped Tethyan Copper Company (TCC) from working on the Reko Diq project, which led to a long legal battle between Pakistan and the aggrieved party.
According to the government’s deal with Barrick Gold, 50 percent of the project’s shares are held by Barrick, while the remaining would be divided equally between the federal and provincial governments of Balochistan.