ECC reaffirms support for Reko-Diq project

March 26, 2025 (MLN): The Economic Coordination Committee (ECC) of the Cabinet has reiterated its full support for the Reko-Diq Project, recognizing it as a project of immense national significance.

During its meeting in Islamabad, chaired virtually by Finance Minister Muhammad Aurangzeb from China where he is attending the Boao Forum for Asia 2025, the ECC considered a summary presented by the Petroleum Division.

The summary outlined modifications to the project's development plan due to inflation-driven cost escalations and an expanded scope, including increased capacity, a revised energy mix, alternative water supply solutions, and upgraded processing plants and machinery.

Acknowledging the factors contributing to these revisions, the ECC approved the proposals and directed the Ministries of Petroleum and Finance to maintain close coordination to ensure the timely implementation of all agreed actions.

Additionally, the ECC reviewed and approved a summary from the Ministry of Interprovincial Coordination, granting a technical supplementary allocation of Rs200 million under the development budget of the IPC Division for the construction of a Pakistan Sports Board (PSB) Coaching Centre in Skardu.

However, the ECC emphasized the importance of ensuring that, once completed, the training facility remains fully operational and effectively serves its intended purpose, as per the press release.

The centre is expected to provide sports facilities to the local population while functioning as a high-altitude training hub for athletes competing at both national and international levels.

The meeting was attended by Minister for Petroleum Ali Parvez Malik, Minister for Commerce Jam Kamal Khan, and Minister for Board of Investment Qaiser Ahmed Sheikh.

Also present were the Chairman of the Securities and Exchange Commission of Pakistan (SECP), federal secretaries, and senior officials from relevant ministries and divisions.

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