Pakistan lost another IPP case in London Court of Arbitration
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ISLAMABAD: The London Court of International Arbitration (LCIA) has issued a final partial award against Pakistan, directing the country to pay around Rs11 billion claimed by nine independent power producers (IPPs).
It is a second embarrassing outcome of international litigations against the country within a month’s time.
The tribunal will also start proceedings to determine the quantum of the damage claims for which a hearing is scheduled for October 1 and 2.
It is learnt that after the quantum stage, Pakistan will pay more money in damages claim.
Officials declared it a complete failure of different government departments, especially the ministry of power that two consecutive awards of hefty amounts were issued against the country within a month.
