The News International, Pakistan
isds.bilaterals.org – By Wajid Ali Syed – 14 July 2019
WASHINGTON: The International Center for Settlement of Investment Disputes (ICSID) of World Bank has rendered almost $6 billion (Rs950 billion) award against Pakistan in Reko Diq case.
The arbitration case started in July 2012 with the constitution of the tribunal, and the final award announcement had been awaited since last year. On Friday, the tribunal concluded the case in 700-page verdict awarding a massive $4 billion in penalty and around $2 billion in interest and the expenditure incurred on the case by the TCC. Since this is the largest award in the history of the tribunal, Pakistan now faces a serious threat of assets seizure abroad. Continue reading “Pakistan fined Rs950 bn in Reko Diq case”