ECC green-lights new EPZ in Balochistan

Pakistan on Wednesday approved the establishment of a new Export Processing Zone (EPZ) in Balochistan with 80% Chinese ownership, a move authorities claim has the endorsement of the International Monetary Fund (IMF). The Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Muhammad Aurangzeb, greenlit the establishment of the Siah Dik Copper Project in District Chagai, Balochistan. The committee declared three mineral leases, spanning 4,208 acres near Saindak, as a Private Export Processing Zone. The KoheSultan Mining Company Limited will own the zone, with an 80% stake held by the China Metallurgical Group Corporation and the remaining 20% by Siakoh Mineral Development Corporation, a local firm. The decision will facilitate the development and export potential of the region's mineral sector.