What is Reko Diq Case?



In the Reko diq case, Pakistan appears to be in trouble in the sense that as a result of a hefty court decision,  Tethyan Copper Company has begun the process of freezing Pakistani assets. However, a statement from the Attorney General's Office said that the British High Court issued an order on December 16, 2020 without hearing us. Pakistan will defend itself at the hearing on January 7, 2021. Tethyan is a joint venture between Barrack Gold Report of Australia and Anto Fagsa PLC of Chile, while Reko diq is famous in Balochistan for its mineral wealth. The Reko diq case seems to be the result of careless trade deals of our previous governments that did not fully consider the terms of the agreement and the possibility of errors. What were the conditions after awarding the gold mining contract from Reko diq? In this regard, the public should be made aware of the true situation. The World Bank's International Center for Investment Dispute Resolution (ICSID) decision on July 12, 2019, struck a chord with Pakistan, ordering Islamabad to pay a 5.6 billion dollars fine. Government of Pakistan orders against the fine on condition that 1.5 billion dollars from Exide be deposited in a foreign bank. Following the expiration of the period, proceedings were initiated on the order of the concerned High Court. In this situation, the assurance of legal action taken by the Office of the Attorney General of Pakistan and the efforts of the government to deal with this matter amicably. The delicacy of the situation demands that the people be taken into confidence and that all political forces work together to reach an economic agreement that will ensure effective consideration of major trade deals, among other issues.

 

Comments

Popular Posts