SC terms Reko Dig project settlement deal legal; Pakistan finally skips $100m penalty

Supreme Court of Pakistan (SCP) on Friday announcing a short verdict termed the settlement deal on Reko Diq project legal and stated there is no violation of SC 2013 judgment.

Pertinent to note that, in case, deal is not finalised between Barrick Gold and Pakistan on Reko Diq project until Dec 15, the country will have to face penalty of $100 million.

The federal government was waiting for SC’s opinion in reference.

Now, after the SC announced the verdict, the federal government will progress with relevant legislation and then deal will be signed with the international firm.

Pakistan will hopefully evade the $100 million penalty by signing a new deal before 15th December.