ISLAMABAD – The Committee of International Arbitration Tribunal has issueda stay order on the request of Pakistan in the Reko Diq case.
According to a media report, the decision of arbitration tribunal waschallenged by Pakistan in November 2019.
Pakistan requested that tribunal’s decision should be reversed and a stayorder be issued until the final decision.
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It is pertinent to mention that The International Center for Settlement ofInvestment Disputes (ICSID) announced a massive $5.976 billion awardagainst Pakistan in the Reko Diq case in July 2019, which is one of biggestin ICSID history. ICSID awarded a $4.08 billion penalty and $1.87 billionin interest.
