*ISLAMABAD: Showing the disappointment over the International Center forSettlement of Investment Disputes (ICSID) about Reko Diq case, the AttorneyGeneral Office has said that Islamabad reserves the right to challenge theverdict at all international forums.*
“All stakeholders including Balochistan government are reviewing thejudgment”, stated a press release issued here from the Attorney General ofPakistan’s Office.
Terming the press release issued from the chairman TCC Board, a good omen,the AGP stated that the government is ready to sit for discussion to settlethe dispute.
Pakistan is a responsible state and obeys international laws, the statementsaid.
The International Center for Settlement of Investment Disputes (ICSID)imposed a penalty of 5.8bn on Pakistan in the Reko Diq case.
In a 700-page ruling, ICSID awarded $4.08 billion penalty and $1.87 bn ininterest to Pakistan. The amount will be paid to Tethyan Copper Company(TCC).
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Tethyan Copper Company (TCC) had been granted license for god and coppermining at RekoDiq, area of Balochistan but the former chief justiceIftikhar Muhammad Chaudhry had canceled the agreement with the company.
The company had filed a lawsuit against Pakistan at ICSID, claimingS11.43bn in damages in 2012. Sources privy to the matter said that Pakistanwill soon challenge the verdict.
In 2013, a three-member bench of the Supreme Court, headed by then ChiefJustice Iftikhar Muhammad Chaudhry had declared Reko Diq lease agreementnull and void. The bench had given its verdict in favor of Balochistangovernment.
The short verdict had stated that the agreement under which Tethyan CopperCompany (TCCP) had been given a contract, had been canceled
