The investor-state dispute settlement (ISDS) system could be putting climate action at risk in emerging and developing economies as investors in fossil fuel projects angle for compensation, experts say.
Pakistan’s previous policy, initiated in 2021, sought to terminate its bilateral investment treaties to avoid further ISDS cases by international investors.
Pakistan has emerged triumphant in the arbitration initiated by Tuwairqi Steel against the federation at the Permanent Court of Arbitration in The Hague, Netherlands.
Pakistan concluded a settlement agreement with Ozpak, a Turkish company, in longstanding arbitration proceedings pending in the International Centre for Settlement of Investment Disputes.
Pakistan and Saudi Arabia have reached a consensus on the investment modalities, paving the path for the ratification of a much-awaited free trade agreement with the Gulf Cooperation Council.
These directions were issued after threadbare discussion with Saudi Arabia and Qatar which are insisting on the option of international arbitration in a template of Bilateral Investment Treaty.
Barrick Gold a mis fin à un différend avec le gouvernement du Pakistan concernant les droits miniers du projet Reko Diq suite à une décision de la Cour suprême du pays.