ISLAMABAD – Federal Minister for Petroleum Dr Musadik Malik has stated that no deal has been made with Saudi Arabia regarding Reko Diq yet, and the talks about such a deal are incorrect.
Speaking to the media, Malik clarified that the federal cabinet had not approved any such deal. However, he confirmed that discussions with Saudi Arabia regarding Reko Diq are ongoing.
He further mentioned that the talks with Saudi Arabia about investing in Reko Diq are progressing positively, but no discussions have taken place regarding the percentage of shares.
He added that a deal concerning the shares with Saudi Arabia will be finalized next year.
It is noteworthy that yesterday, it was reported that the federal cabinet had approved the sale of 15% shares for $540 million.
