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July 2011

Reko Diq project — exploiting own treasures

Khalid A Khokhar
Amongst dozens of ongoing mega development projects in Balochistan, Reko-Diq gold and copper mining project is considered to be a big national strategic asset that would transform Balochistan as the richest province in the country. According to experts involved in mining and exploration, some 12.3 million tons of copper and 20.9 million ounces of gold lie in the Reko Diq area (EL-5) in the Chaghi area of Pakistan’s southwest Baluchistan province – bigger than those evaluated at Sarcheshmeh in Iran and Escondido in Chile. The discovery heralded attraction of all the 12 major companies involved in mining & exploration business with the mining magnets started “behind-the-scene lobbying” for getting the contract at Reko-Diq from Balochistan Development Authority (BDA). After due deliberations, a Canadian and Chilean company Tethyan Copper Company (TCC) was given the licence for exploring copper, gold and other base metals in EL-5 area, by the government of Balochistan. Under the agreement, 75 per cent shares were given to TCC and 25 per cent to the BDA. Reports emerging from various sources indicate that the US $52 billion of natural deposit will be sold for just US $08 billion to the TCC. The mind-boggling question is why 75% of reserves are being given to get 25% back after investing 25% in (EL-5) project? According to reliable estimate, only a small part of the Reko Diq gold and copper mines (EL-5) have deposits worth US $270 billion. Two licences (EL-6 & EL-8 other bigger deposits in the same belt) were given to the same company (TCC) on a 100 per cent ownership basis and without any share to the government of Pakistan.
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Pakistan needs Government backed by military, bureaucracy

All Pakistan Muslim League (APML) Quaid Pervez Musharraf has said Pakistan is desperately in need of a democratic government that has support both from military and bureaucracy. Addressing the inaugural ceremony of APML office in Texas (USA), the APML Quaid in his inaugural address underscored that both PPP and PML-N has lost supporting hands from military and bureaucracy. He said that when he assumed power in 1999; the country was on the verge of bankruptcy but with day-in and day-out struggle of few years, Pakistan was enlisted among the 11 countries’ list with the fastest growth and progress ratio. Read More »Pakistan needs Government backed by military, bureaucracy

American guerrilla war in Pakistan

Dr Jassim Taqui

More surprises are unveiling about the real story of deteriorating ties between Pakistan and the United States. The issue is not confined to US spy Raymond Allen Davis or Geronimo Operation. It is much bigger. For several years, the American special troops or the so-called Joint Special Operation Command (JSOC) were combining with the infamous American mercenaries Blackwater disguised as security personnel to protect the American interests in Pakistan in target assassination of high value targets and sensitive places inside Pakistan. Former President Gen. Pervez Musharraf permitted these troops in a classified agreement, which remains a mystery.
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Addressing a seminar at the UN inGenevaon June 9, 2011, the British parliamentarian George Galloway said, “Eighty thousand had died in the more than twenty year freedom struggle in the Indian heldvalleyofKashmir. Uncountable numbers had been wounded and maimed, mass imprisonment and exile and even the use of rape as a tool of occupation had been the lot of the Kashmiris and yet the only demand of the occupied people ofKashmiris for the right to vote.” The topic of this seminar was, “Defending the Democratic Processes.”Read More »KASHMIR-TURNING TO A WASTELAND

Turkey’s Elections 2011: A Facts finding research study

Mehmood-Ul-Hassan Khan

Turkey's Prime Minister Tayyip Erdogan, accompanied by his wife Emine Erdogan

In the recently held elections, Turkish Tayyip Erdogan’s Justice and Development Party (AKP) has once again won the hearts and minds of the voters and scored a tremendous third consecutive electoral victory. The results showed AKP won 49.9 percent, or 326 seats, just below the 330 required for a plebiscite. The voters marked AKP’s biggest electoral tally since it first came to power in 2002. They endorsed the policies of the AKP government which has transformed Muslim Turkey into one of the world’s fastest growing economies and blocked a cycle of military coups.Read More »Turkey’s Elections 2011: A Facts finding research study

Pak Government intends to float fresh short-term National Saving Schemes

The government is considering introducing short-term National Savings Schemes (NSS) products for a year and below.

The government with the consent of finance experts in the Ministry of Finance was about to launch such a scheme last year for the benefit of small investors, but after finding some flaws in the said scheme, the government decided not to float the proposed NSS.Read More »Pak Government intends to float fresh short-term National Saving Schemes