The Economic Coordination Committee (ECC) has approved financing agreements tied to the Reko Diq copper and gold mining project, including a $390 million bridge loan to build a 1,350-kilometre railway that will move minerals from Balochistan to export markets.
Finance Minister Muhammad Aurangzeb, who chaired the meeting, said the project would generate jobs, boost infrastructure, and drive long-term economic growth in the region. He described Reko Diq as one of the world’s largest undeveloped copper and gold reserves, with the potential to transform Balochistan’s economy.
The Petroleum Division had sought clearance for final agreements and financial commitments related to the project. The ECC directed that any major changes arising from legal or financial reviews be resubmitted for approval.
The committee also approved a Rail Development Agreement between the Ministry of Railways and Reko Diq Mining Company. Both the Railways and Finance ministries were instructed to review the agreements and present an implementation report to the ECC by March 2025.
Aurangzeb said the approvals reaffirmed the government’s commitment to advancing the “historic” project, ensuring its benefits reach the wider Pakistani economy.
The session was attended by Petroleum Minister Ali Pervaiz Malik, Food Security Minister Rana Tanveer Hussain, Investment Minister Qaiser Ahmed Sheikh, federal secretaries, and senior officials from relevant ministries and regulators.
