Pakistan and Barrick Gold PLC Canada are said to have started negotiations to settle the dispute on Reko Diq as Antofagasta of Chile is seeking financial settlement of their share in the award of $6 billion.
An UAE-based trading and investment firm has filed a lawsuit before the Sindh High Court worth around Rs 74 billion against the State Bank of Pakistan and a private bank for BIT breach, local media reported.
Under the new template, federal government would not be liable for private investor disputes. Mediation would be made compulsory, while foreign arbitrators would be decided in advance through consensus.
Le gouvernement du Pakistan aurait décidé de mettre fin à 23 des 48 TBI du pays, dont la durée initiale a été atteinte. Par ailleurs, le pays ne ratifiera pas 16 TBI déjà signés mais pas encore entrés en vigueur.
Terminating 23 BITs is an important step for Pakistan, but if relationships with the WTO, the IMF and the World Bank remain, economic efficiency will continue to be prioritised over social justice and the rights of citizens.