Copper & Gold project,Chinese sought Rs27B for Saindak Transfer

Quetta:The adviser to Balochistan Chief Minister on Finance,Mir Khalid Langov,has revealed that the Chinese Company MCC has demanded Rs 27 billion for transfer of Saindak project to the government of Balochistan.
The company argued that it had invested Rs 27 billion on exploration of copper and gold in Saindak which should be repaid to the company before the transfer of the project to the Balochistan Government.

The adviser said that the Balochistan government is unable to pay such a huge amount to the company ,as the provincial government has resource for this purpose.He said that in 10 years the provincial government is expected to earn Rs 10 billion merely from the project.
Langov said that the Federal government had promised during the autonomy talks for Balochistan and other provinces to allow 5 percent royalty from the project with 30 percent share in taxes and other fees.
He claimed that the Federal Government has failed to fulfil its promise to the due date,but the Balochistan Government is still hope full on the matter and Saindak Prokect.
He said the government in the next fiscal year would spend  Rs 4.5  billion on exploration of the mines and gold in 7km area of Reko Dik.
The amount is spent on Reko Dik as part of the Rs 12 billion package for promoting investment,he added.
He expressed concerns over failing revenues to Balochistan on natural gas ,claiming that the share of Balochistan on natural gas has fallen to 20 percent .
He defended the increase in salaries and allowances for the minsters ,saying that the total impact would be around Rs 325 million.'The purpose of salary increase is to minimise corruption'.
He said Rs 5 billion could not be used in the development programme during the current the fiscal year as allocation is non-lapsable.