Justice Jamal Mandukhel’s Note On Recodek Plan.
Justice Jamal Mandukhel issued an 11-page note on the presidential reference.
Justice Jamal Mandukhel issued an 11-page note on the presidential reference. related to the Rekodic project in the Supreme Court, in which it was said that the Rekodic agreement was made according to the constitution and law.
Justice Jamal Mandukhel said in the note that on December 9, a brief unanimous opinion was given on the presidential reference related to the Rekodic project, so far no detailed opinion has been issued on the presidential reference on the Rekodic project
The note said that the 10 billion dollar fine imposed on Pakistan for violating the previous Rekodic project would have had serious consequences. Ga., the court allowed the ratification of the Recodec agreement for the same reasons.
Justice Jamal Mandukhel said that there is no prohibition in the constitution to spend public assets through legal procedures, in Recodic agreement, public assets are being spent through legal and legitimate procedures, according to the constitution, laws related to mines and mineral development. Coming under the jurisdiction of the provinces, the Sindh and KP assemblies have already enacted detailed legislation on mines and minerals
The note said that legislation related to nuclear energy and oil fields is a federal power, the proposed Foreign Investment Act 1948 is not an amendment to the law, the Balochistan government ratified the Rekodic Agreement as a public agreement, in the Rekodic Agreement. No environmental exemptions are being granted by Pakistan.
The note further states that the government’s Foreign Investment Act will be viewed as a separate law. Balochistan government was assisted by independent experts.
It should be noted that in March 2022, the foreign company Barrick Gold had expressed its willingness to invest, Barrick Gold had expressed its willingness to invest half in the project along with the penalty settlement.
The remaining 50 percent investment in the Rekodic project is to be made by Pakistan, investors Tethyan and Barrick Gold had demanded legislation on the exemptions received in the agreement, foreign companies had also demanded the approval of the agreement from the Supreme Court, the federal The government had drafted the Foreign Investment Bill 2022, the President of Pakistan had sent the reference to the Supreme Court on October 15 for its opinion.
Where is Recodek located in Balochistan?
Rekodak is located in Chagai district of Balochistan, which has a long border with Iran and Afghanistan. According to some reports, Rekodic is considered to be the largest copper and gold deposit in Pakistan and one of the largest deposits in the world.
Rekodik is said to have huge deposits of gold and copper, equivalent to one-fifth of the world’s reserves.
Near Rekodak is Sendak, where a Chinese company has been working on copper and gold deposits for more than a decade.
Geologists call Chagai a ‘showcase’ of minerals due to the discovery of copper and gold deposits as well as a large number of other minerals in Chagai.