The Special Investment Facilitation Council (SIFC) and the Public Procurement Regulatory Authority (PPRA) have formally conveyed their decisions to Pakistan International Bulk Terminal Ltd., clearing the Karachi-based operator to handle exports of copper, gold, and other high-value minerals from Barrick Gold Corp.’s $6 billion Reko Diq project.
“We have received the decisions, and we have to hold an important meeting next week to discuss the future plans and development regarding the terminal,” said a senior official close to the company’s top management, requesting anonymity due to the sensitivity of the matter.
The terminal and the Port Qasim Authority (PQA) are expected to revise their existing agreement to facilitate construction of dedicated infrastructure for high-value minerals.
The regulatory exemptions remove all procurement-related hurdles that would have otherwise restricted PIBTL’s operations to these minerals. The approvals allow the company to support one of Pakistan’s most strategic foreign investment projects by enabling dedicated logistics infrastructure for mineral exports.
The move follows Barrick Gold’s selection of PIBTL at Port Qasim—after reviewing nine potential export sites—as the preferred facility for handling its mineral output. Under the exemption, the Canadian miner is permitted to refurbish or upgrade the terminal to suit its export requirements.
PPRA exemption last week is under Section 21 of the PPRA Ordinance 2002, citing “national interest”—a legal clause that allows the federal government to bypass normal public procurement procedures in cases of strategic or economic significance. A similar waiver under Clause 7.12 of the National Mineral Policy 2013 is also being pursued to avoid competitive bidding for mineral transport involving proven reserves.