A pie with many stakeholders

The proceedings and recent remarks of the Supreme Court (SC) of Pakistan in the Reko Diq case have not inspired confidence in investors. They are hoping for more informed proceedings and a meritorious decision that serves development goals and projects Pakistan as a viable business destination. Some former bureaucrats and economists advised the court to be mindful of the interests and aspirations of people in restive Balochistan. “No business can flourish in a hostile environment. It is critical for both investors and all tiers of the government to earn the goodwill of locals before initiating a mega project,” said a former federal secretary who served in Balochistan. The apex court’s five-member bench, headed by Chief Justice Umar Ata Bandial, is currently hearing the presidential reference on the Reko Diq case to validate the proposed deal with the mining giant Barrick Gold. “Not only the fate of multi-billion-dollar investment in resource-rich remote Chagi district of Balochistan depends on the SC decision but also the out-of-court settlement with the two partners of the joint venture Tethyan Copper Company-Barrick Gold and Antofagasta Minerals.