Reko Diq will be of immense benefit to Pakistan, experts assure SC.

ISLAMABAD -- Leading financial and legAal advisers told the Supreme Court on MonAday that the proposed agreement for mineral exploration in the Reko Diq area of BaloAchistan would be of immense benefit to the country and help clear 'all of its liabilities'.

In a presentation to a five-judge SC bench, which had taken up a presidential reference about the latest Reko Diq agreement, Pierre Cailleteau, the managing director of Lazard Freres SAS (financial adviser), said the agreement would pay rich dividends to Pakistan.

The assurance came when Justice Yahya Afridi, a member of the SC bench, asked Additional Attorney General (AAG) Chaudhry Aamir Rehman to seek an assurance in writing from the advisers that this was the best option available to Pakistan under the circumstances.

The presentation was given to the court by a consortium of advisers in response to previous directives for explaining the salient features of the agreement being thrashed out between Pakistan and Reko Diq Mining Company (RDMC).

No company other than Barrick Gold ready to invest in the project due to $6.5bn award against Islamabad

When Chief Justice of Pakistan (CJP) Umar Ata Bandial asked what investors expected from the Supreme Court through this reference, the AAG said one of the reasons for filing the reference was to avoid controversies since the government had given certain concessions to investors.

In reply to another question by Justice Afridi, Mr Cailleteau said the advisers had not found any...

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