Pakistan to Sell 15% Reko Diq Stake to Saudi Arabia

Pakistan has agreed to sell 15% of its shares in the Reko Diq project to Saudi investors, reducing its stake from 50% to 35%.

This decision came after Barrick Gold, a key project partner, declined to sell its shares. The Balochistan government will keep its 25% stake, while federal state-owned enterprises will see their shares decrease from 25% to 10%.

Read more: PM Kakar Confident About Saudi Investment in Reko Diq

The Special Investment Facilitation Council (SIFC) facilitated this agreement to attract more investment into Pakistan, aiming to enhance economic cooperation with Saudi Arabia.

High-level interactions between Pakistan and Saudi Arabia and the upcoming Free Trade Agreement (FTA) with the Gulf Cooperation Council (GCC) and the Bilateral Investment Treaty support this deal. These agreements are expected to create a more favorable environment for trade and investment, benefiting both nations.