ICSID verdict: Seeking legal opinion for review petition, says advisor

Quetta

QUETTA:All aspects of the verdict passed by International Centre for Settlement of Investment Disputes (ICSID) are being reviewed; however, it is to be pointed out that Tethyan Copper Company filed an appeal before the ICSID in November, 2017 in which Pakistan and Balochistan had been made party and sought damages for not issuing mining license to the company (Tethyan Copper) by the provincial Mines and Minerals Development Department. After several hearings, decision on the complaint was reserved in May, 2018 which was announced on July 12, 2019.

This was stated by Liaquat Shahwani, Provincial Spokesman while presenting the point of view of provincial government with regard to the decision of International Centre for Settlement of Investment Disputes (ICSID).

He said that legal team of the government defended the joint point of view of Federal and Provincial government before ICSID and due to the reason 100% damages of Tethyan Copper was not acceded to rather ICSID announced payment of 4.08 billion dollar damages to Tethyan copper which was half of the damages claimed by Tethyan Copper Company before ICSID. Provincial spokesman further added that government of Balochisan knew responsibility of implementing the decision of International Centre for Settlement of Investment Disputes (ICSID); however, the government is reviewing to file review petition before the ICSID in accordance with the laws of International Centre for Settlement of Investment Disputes (ICSID) and for the purpose the government had initiated the process of seeking legal opinion from legal experts and in this regard joint legal course of action would be devised in cooperation with Federal government in accordance with the laws of ICSID.

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