ISLAMABAD, Nov 09 (Online): Supreme Court (SC) has adjourned till Thursday November 10 hearing of presidential reference on Reko Diq agreement.
A five members bench of SC presided over by the Chief Justice of Pakistan (CJP) Umar Ata Bandial took up the case for hearing Wednesday.
Additional Attorney General (AAG) Amir Rehman while continuing his arguments told the court government should maintain transparency as amin in the matter of public policy.
The contract of mining is awarded to the company which obtains license to explore minerals. SC had nullified the previous agreement of Reko Diq for want of proper feasibility. The contract of mining of minerals will stand cancelled at that time when the company exploring it ends the agreement. Earlier the royalty of minerals was 2 percent and at present it is 5 percent.
He argued the previous license of Barrik gold company was cancelled. Now new license will be given to it.
It has been said in courts decisions that there should be bidding of projects to ensure transparency. The transparency cannot come in the projects without bidding. There are only one dozen companies including Barrick gold for exploring minerals in the world. Due to court decision no company in the world approached Pakistan despite cancellation of Barrick gold license.
He said briefing was given to Balochistan government for 9 hours last year in respect of new agreement of Reko Diq. After briefing the Balochistan assembly made amendments in respective laws this year in June.
There was several basic flaws in previous Reko Diq agreement which have been removed in new deal.
The court adjourned the hearing of the case till November 9.
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