Ali Pervaiz Malik, formerly a junior finance minister, will now lead the petroleum ministry, with a key task of overseeing a major transaction in the Reko Diq copper and gold project.¹ This project is a significant undertaking, with Barrick Gold, which owns 50% of the project, working with railway authorities to revamp Port Qasim’s coal terminal for copper transport.
Meanwhile, Muhammad Ali has taken over as adviser for privatization, a role that will focus on privatizing state-owned enterprises, including the debt-ridden airline PIA. This effort is essential for raising funds and reforming these entities under the ongoing $7 billion International Monetary Fund bailout program.
In another significant appointment, Bilal Azhar Kayani will now serve as Pakistan’s Minister for Railways, overseeing talks with China to upgrade and reconstruct Pakistan’s railway network and develop the Gwadar port.
