By Canadian High Commissioner Leslie Scanlon engaged with Pakistan’s Caretaker Prime Minister, Anwaar-ul-Haq Kakar, to deliberate on the Reko Diq project and strengthen economic relations between the two nations. This development was confirmed by the Prime Minister’s Office (PMO).
The Reko Diq project, a multi-billion-dollar endeavor, is a collaboration between Canadian mining company Barrick Gold and the governments of Pakistan and its southwestern Balochistan province.
Barrick Gold holds a 50 percent stake in the Reko Diq mine, considering it one of the world’s largest untapped copper-gold resources.
The meeting between Scanlon and Kakar took place at the Prime Minister’s House and revolved around various aspects of their bilateral ties.
Discussions encompassed Canada’s development initiatives in Pakistan, their humanitarian support for the 2022 flood victims, economic and trade relations, and Canadian investments in Pakistan, notably focusing on the Reko Diq Project.
The PMO quoted the Prime Minister, who underscored the importance of fostering strong ties between Pakistan and Canada. Kakar, in turn, emphasized the measures adopted by Pakistan to stabilize its economy and encourage foreign investments through the Special Investment Facilitation Council (SIFC).
Furthermore, the Prime Minister highlighted the steps taken by the government to repatriate illegal immigrants from Pakistan, as mentioned by the PMO.
In recognition of Pakistan’s support, the Canadian High Commissioner praised the Government of Pakistan for its assistance in Canada’s Afghan Relocation Program.
To address its economic challenges, Pakistan established the SIFC in June, with the aim of revitalizing its fragile economy, which had been adversely affected by dwindling foreign exchange reserves, significant currency depreciation, and soaring inflation rates.
The council operates as a collaborative entity comprising civil and military components, including the army chief, and is designed to attract foreign investments by capitalizing on the nation’s untapped potential in agriculture, mining, information technology, defense production, and energy sectors.
The interaction between Canadian High Commissioner Leslie Scanlon and Pakistan’s Caretaker Prime Minister Anwaar-ul-Haq Kakar signifies a promising development in their economic partnership.
The Reko Diq project, backed by Canadian mining giant Barrick Gold, holds significant potential for both nations, as it is recognized as one of the world’s largest untapped copper-gold resources. The meeting, held at the Prime Minister’s House, delved into various aspects of their bilateral ties, including development programs, humanitarian support, economic and trade relations, and investments.
The Prime Minister stressed the importance of a robust Pakistan-Canada relationship, highlighting efforts to stabilize the economy and attract foreign investments through the Special Investment Facilitation Council (SIFC).
Furthermore, the government’s actions to repatriate illegal immigrants were acknowledged, and Pakistan’s support for Canada’s Afghan Relocation Program was appreciated.
The establishment of the SIFC, designed to bolster Pakistan’s economy by attracting foreign investments across multiple sectors, presents a promising opportunity for economic growth in the region.
