Stay order in Reko Diq case is great relief for Pakistan: Asim Bajwa
PM directed to support Balochistan for mineral sector development in a transparent manner, he said.
ISLAMABAD (Dunya News) – Special Assistant to the Prime Minister on Information and Broadcasting and China-Pakistan Economic Corridor Authority (CPECA) Chairman Lt Gen (retd) Asim Saleem Bajwa said on Friday that the stay order by the World Bank tribunal on $ 6 billion award versus Pakistan is a great relief in the Reko Diq case.
Asim Saleem Bajwa took to Twitter and maintained that Prime Minister Imran Khan has directed to fully support the government of Balochistan for accelerated development of mineral sector in a transparent manner, structured system, best tech, involve local investors, develop own human resources. Pakistan is moving forward, the SAPM stressed.
Reko Diq:Stay order by World Bank tribunal on $ 6 Bn award vs Pakistan is great relief.Meanwhile PM directs to fully support GOB for accelerated dev of mineral sec in a transparent manner,structured system, best tech,involve local investors,develop own HR #PakistanMovingForward— Asim Saleem Bajwa (@AsimSBajwa) September 18, 2020
It is pertinent here to mention that in a positive development for Pakistan, World Bank’s arbitration forum, the International Center for Settlement of Investment Disputes (ICSID), on Thursday granted a stay on the $ 6 billion fine imposed on the country in the Reko Diq case.
In July 2019, the ICSID Tribunal ruled in favor of the Australian company Tethyan Copper Company (TCC), ordering Pakistan to pay a hefty $ 6 billion fine. In April 2020, a hearing was held via video link which granted Pakistan provisional stay against the fine. The final hearing in the Reko Diq case is slated to be held in May next year.