Breakthrough

It's a breakthrough of sorts as the SIFC has clinched a lucrative investment deal in the mining sector. The reported offer from Saudi Arabia to buy 15% stakes in the Reko Diq mining project is appreciated, and has come at a time when the wheel of the economy is stagnated.

Moreover, the generosity from the Royals to pour in substantial grant to build infrastructure around the exploration area will pave the way for more developmental and logistical ease, especially in realising the Mashkhel-Panjgur sector in the desolated province of Balochistan. Though it is not known as to what will be the tune of investment that will flow in the project, it is for sure that it will go a long way in roping in other potential businesses in several other lucrative arenas of the natural resource-rich province.

With the federal and the provincial governments holding 25% of stakes respectively, it should not be a problem in striking a convenient deal with the Saudis. Riyadh's benevolence has been a cornerstone for Pakistan's economy, and especially when Islamabad is looking up to it for a rollover of $5 billion along with a cash tranche of $1.5 billion, this mega-deal can set in the desired confidence to cement the bilateral economic relations to new heights. Reko Diq is Pakistan's gold mine and can turn fortunes, and all that is required is a progressive business plan so that investors can feel at home and be secure on the count of their returns and favourable litigation. The committee that has been constituted by the government to clear the deal must come up with state-of-the-art clarity to make Pakistan the hub of international business in the region.

The reopening of Reko Diq must be complemented by throwing open more such zones where minerals and raw material are plentiful. That must accompany the ease of doing business assurances, in order to come out of the stress the economy is in these days. Furthering exports and driving in big-ticket investment is the way to go. This deal also means a new lifeline for Balochistan that is under revulsion for backwardness.