*ISLAMABAD – **PM Imran Khan takes action over reports of Rs 950 billionpenalty to Pakistan over infamous Reko Diq case.*
* A commission is being formed to investigate who is responsible forthe Reko Diq case. *
According to the Attorney General’s Office, the commission, which has beenformed by Prime Minister Imran Khan, will investigate how Pakistan landeditself in a situation where it has been fined over $5 billion in damages.
The fine was imposed on Pakistan on Saturday by a World Bank arbitrationcourt — the International Centre for Settlement of Investment Disputes.Pakistan has to pay Tethyan Copper $5.8 billion in damages.
The company had approached the World Bank’s arbitration court in 2012 afterthe Balochistan government declined its lease request.
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Pakistan’s Supreme Court had terminated the deal in 2013. The miningcompany said that it had invested over $220 milion on Reko Diq.
The company is still “willing to strike a deal with Pakistan,” Tethyanboard chair William Hayes said in a statement. But added that “it wouldcontinue protecting its commercial and legal interests until the disputewas over.”
Prime Minister Khan now wants the commission to find out what happened andwho is responsible.
