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.
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.
The International Centre for Settlement of Investment Disputes (ICSID) has declared that the Supreme Court of Pakistan’s judgment in the rental power projects case is ‘arbitrary’.
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.
Barrick Gold a indiqué que sa coentreprise avec le mineur chilien Antofagasta avait obtenu 5,84 milliards $ US en dommages-intérêts pour son projet Reko Diq, au Pakistan.
The International Center for Settlement of Investment Disputes (ICSID) of World Bank has rendered almost $6 billion (Rs950 billion) award against Pakistan in Reko Diq case.
The Government of Pakistan has reportedly created an Escrow Account worth $ 150 million to avert a negative ruling by the international arbitration tribunal in case of M/s Kakey uriterium rental power plant
Pakistan government is reportedly in talks with the Turkish government and M/s Karkey for an out-of-court settlement to avert attachment of Pakistan’s properties in Europe