Pakistan and Saudi Arabia are in the "advanced" stages of negotiations regarding a significant investment in Pakistan’s copper and gold mines, according to Petroleum Minister Musadik Malik. The talks focus on Reko Diq, one of the world’s largest underdeveloped copper and gold mines, located in Balochistan province. The mine is jointly owned by Canadian firm Barrick Gold Corp. and Pakistan. Last
Saudi Arabian mining company Manara Minerals could invest in Pakistan's Reko Diq mine in the next two quarters, Pakistan's Petroleum Minister Musadik Malik said on Tuesday. Manara, a joint venture between state-controlled miner Ma'aden and the $925-billion Public Investment Fund (PIF), was set up as part of the kingdom's efforts to diversify its economy away from oil, including by buying minori
Prices of petroleum products are expected to be increased by a maximum of Rs6.20 per litre for the upcoming fortnight beginning January 16 because of a rise in international crude oil prices. According to market sources, the ex-depot price of petrol is estimated to go up by Rs3.53 per litre while kerosene oil and light diesel oil may become expensive by Rs4.98 and Rs6.20 per litre, respectively
Gold prices in Pakistan experienced a consecutive second day of decline on Tuesday, mirroring a similar trend in international markets. The price per tola dropped by Rs1,400, settling at Rs277,900 in the local market. Similarly, the price of 10-gram gold fell by Rs1,201, closing at Rs238,254, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Monday, the price per
Pakistan's export of manpower to various regions across the globe has become an important aspect of its economic landscape. With millions of Pakistanis working abroad, their contributions via remittances have emerged as a lifeline for the country's economy, especially in times of economic turbulence. However, the accompanying brain drain raises complex questions about the nation's future developme