The Economic Coordination Committee (ECC) has postponed its decision on the PIBT–Reko Diq export framework, which was proposed by the Ministry of Maritime Affairs (MoMA). The plan involves resolving arbitration issues between the Port Qasim Authority (PQA), Pakistan International Bulk Terminal (PIBT), and the Reko Diq Mining Company (RDMC).
According to Business Recorder, the ECC has asked the Maritime Ministry to hold more talks with all stakeholders and present a revised, clear proposal.
The disagreement mainly concerns the Supplemental Implementation Agreement (SIA) and a Side Letter between PQA and PIBT. These documents cover how copper, gold, and other minerals from the Reko Diq project will be exported through Port Qasim.
While the PQA wants the arbitration to be done in Karachi under Pakistani law, PIBT and RDMC prefer it to be handled by the London Court of International Arbitration (LCIA) in the UK. The PQA Board, in its meeting on September 18, supported keeping the process local to match existing contracts.
The Attorney General’s office later said the arbitration clause could move forward if it clearly limited references to RDMC and its related companies. However, the ECC decided to delay approval until a revised framework is ready.
The PIBT project, approved in 2010 under the Build-Operate-Transfer (BOT) model, was originally designed for handling coal, clinker, and cement. Expanding it to include copper and other minerals under the Reko Diq export plan will require changes to the existing agreement and compliance with Public Procurement Regulatory Authority (PPRA) rules.
The Maritime Ministry explained that this export plan is temporary, as Gwadar Port still lacks the required infrastructure. The ECC emphasized that any new framework must ensure transparency, due diligence, and value for money before getting final approval.
