Islamabad, September 18, 2020 (PPI-OT): The World Bank’s International Centre for Settlement of Investment Disputes has granted stay on the enforcement of penalty imposed on Pakistan in the Reko Diq mining lease dispute.
In a statement in Islamabad, the office of Attorney General for Pakistan described the development as a success for the country and its legal team. In July last year, an international arbitration tribunal of the ICSID had slapped nearly six billion dollars penalty on Pakistan for denying a mining lease to an Australian company.
For more information, contact:
Ministry of Information and Broadcasting
Government of Pakistan
4th Floor, Cabinet Block, Pak. Secretariat, Islamabad, Pakistan
Tel: +92-51-9103557
Email: info@moib.gov.pk
Website: http://www.moib.gov.pk