Pakistan seek positive economic development worth $4.08 billion

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Pakistan seek positive economic development worth $4.08 billion

ISLAMABAD - The Committee of International Arbitration Tribunal has issued a stay order on the request of Pakistan in the Reko Diq case.

According to a media report, the decision of arbitration tribunal was challenged by Pakistan in November 2019.

Pakistan requested that tribunal’s decision should be reversed and a stay order be issued until the final decision.

It is pertinent to mention that The International Center for Settlement of Investment Disputes (ICSID) announced a massive $5.976 billion award against Pakistan in the Reko Diq case in July 2019, which is one of biggest in ICSID history. ICSID awarded a $4.08 billion penalty and $1.87 billion in interest.

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