Oil Minister Musadik Malik has denied reports of a deal with Saudi Arabia over the Reko Diq project.
In a meeting with journalists in Islamabad on Tuesday, Malik said that negotiations with Saudi Arabia over Reko Diq are ongoing and progressing positively. However, he clarified that no agreement has yet been closed.
He expressed hope that a deal with Saudi Arabia will be finalized soon, with strong prospects of completion in early 2025.
He further clarified that the news about the cabinet’s approval of the agreement was also incorrect. However, a committee was formed to oversee the deal, which has now completed its work.
It was previously reported that the federal Cabinet approved the sale of a 15% stake in the Reko Diq mining project to Saudi Arabia, under an intergovernmental transaction agreement.
