thenews.com.pk 18 Sep, 2020 11:45 am

Reko Diq stay order great relief for country

Reko Diq stay order great relief for country
SAPM says PM has directed to fully support Balochistan government for accelerated development of mineral sector

Photo: File ISLAMABAD: SAPM on Information and Broadcast retired Lt Gen Asim Saleem Bajwa on Friday termed the stay order granted by the World Bank's International Centre for Settlement of Investment Disputes (ICSID) in the Reko Diq case a great relief for the country.On Thursday, the World Bank tribunal had granted Pakistan a stay order of six months in the Reko Diq case in which the country was slapped with a $6 billion fine.ICSID is still considering Pakistan’s appeal against enforcing the penalty over its cancellation of the Reko Diq mining lease for TCC, a 50-50 joint venture of Barrick Gold Corporation of Australia and Antofagasta PLC of Chile, and a final hearing will take place in May 2021.“Stay order by World Bank tribunal on $6 Bn award vs Pakistan is great relief,” Asim Bajwa said in a Twitter post.

According to the attorney general's office, a hearing to confirm the stay order took place via video link in April 2020.Pakistan Fri, Sep 18, 2020 SAPM says PM has directed to fully support Balochistan government for accelerated development of mineral sector.

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