ISLAMABAD: Pakistan is making last ditch effort to save $11 billion in theReko Diq mining case.
Pakistan in an apparent last attempt to avoid paying damages to the tune of$11.43 billion.
The decision had gone in favour of Tethyan Copper Company (TCC) — a jointventure between Antofagasta of Chile and Barrick Gold Corporation of Canada— which filed the case in 2011 claiming that Pakistan had unlawfully denieda mining lease.
According to a report in *Express Tribune, *the Law Minister Dr FaroghNasim and Attorney General for Pakistan are visiting the US presently andthe reason for their visit isn’t officially known.
However, government sources have affirmed that both the law minister andattorney general are trying to settle the Reko Diq problem.
The International Center for Settlement of Investment Disputes (ICSID) hasalready announced that Pakistan is liable to pay the damages and thehearing on the amount has also finished.
But the final award hasn’t been announced yet and is possible to beproclaimed in around five months’ time.