National Accountability Bureau (NAB) Balochistan has collected irrefutable evidence revealing that billions of rupees have been lost to the national exchequer in the Reko Diq project after the bureau scrutinized its 30-year record.
The World Bank’s ICSID has granted Pakistan a stay order of six months in the Reko Diq case in which Islamabad was awarded with a whopping $6 billion fine.
Pakistan is seeking the reversal of a $5.8 billion penalty imposed by an international tribunal for denying a mining lease to an Australian company, saying that paying the fine would hinder its handling of the coronavirus pandemic.
Pakistan’s chances of having its $6 billion penalty in the Reko Diq case annulled have received a boost with a committee of the International Centre for Settlement of Investment Disputes (ICSID).
Attorney General Khalid Jawed Khan has said that Pakistan’s foremost effort in the Reko Diq mining case is to secure annulment of the $5.9 billion penalty.
The World Bank’s International Center for Settlement of Investment Disputes has approved Pakistan’s petition for a review in the Reko Diq case in which the country was slapped with a $6 billion fine.
Pakistan’s team exchanged its draft agreement with Turkish team’s draft and prepared a consensus document which will again be shared with the federal cabinet for approval before presenting it to the ICSID.
Pakistan approved waiving off all port dues/charges amounting to Rs194,951,059 on 31-1-2020 or till the vessels leave the port accruing against Karkey.