The question for Pakistan now is what lesson can be learned from events that led to the ICSID Tribunal making a $5.9 billion award against the Government of Pakistan.
Pakistan has suffered at the hands of an unaccountable and defective dispute resolution mechanism at the hands of the ICSID, and following the examples of India, South Africa and Brazil, should never have become a part of the ICSID.
This is a story of the dodgy deal by a multi national company and then earning massive amount of money through a World Bank institution acting against developing countries.
Australian company planned was to mine tantulum, but seventeen years later, the company is suing the Egyptian government for potentially hundreds of millions of dollars after the military regime blocked plans.
In the Reko Diq case registered by Tethyan Copper Company, the dollar-starved Pakistan has been slapped a penalty way beyond its reach by the World Bank-sponsored ICSID.
L’État roumain en retirant son permis d’exploitation à une compagnie minière canadienne se voit aujourd’hui traîné devant les tribunaux internationaux.
El CIADI aceptó la conformación del panel arbitral que conocerá la demanda contra el Estado de Guatemala planteada por Daniel W. Kappes y Kappes, Cassiday & Associates, por la suspensión del proyecto minero Progreso VII Derivada El Tambor.
El CIADI del Banco Mundial determinó que el país islámico deberá desembolsar 5.840 millones de dólares tras denegar ilegalmente la licencia minera para el proyecto Reko Diq.