The QUETTA – Balochistan government decided to challenge the fine of about $ 6b imposed by the International Center for Settlement of Investment Disputes (ICSID) in the Reko Diq case.
Treasury Secretary Mirza Hor Ahmed Bulledi said Wednesday that the government will file a petition for a $ 600 million Rekodik penalty at the Balochist General Assembly session.
The announcement was made after Sanaullah Baloch and other lawmakers from the Balochistan National Party (BNP) highlighted the Reko Diq penalty issue and announced that Govt did not brief on the action taken after the Reko Diq case penalty.
Buledi spoke in the House of Representatives and said that all developments in this regard will be shared with lawmakers.
"ICSID, one of the five groups of the World Bank Group, announced a big prize of $ 5.97 billion for Pakistan in the Reko Diq case and we will dispute this order."
The minister added that the government has taken measures to protect natural resources so that residents of Balochistan can benefit, and the government has decided not to allow foreigners to buy land in Balochistan.
At this time, Pakistan's Tehreek-e-Insaf (PTI) Yar Muhammad Rind said the fines imposed by ICSID could not be paid by the next three generations.
PM Imran Requests Investigation and Responsibility Correction in Reko Diq Case
The dispute over the Reko Diq case began when the contract with the Balochistan government and the Tethyan Copper Company (TCC) was terminated by the Supreme Court, headed by Justtik Iftikhar Muhammad Chaudhry.
The company filed $ 11 billion in damages with the International Court of Arbitration, and in a 700-page ruling, the fine amounted to $ 4.80 billion, the fine amounted to $ 1.88 billion, and charged the expenses the TCC spent on the case. I did.
The Court found it illegal to stop Balochistan's agreement with the federal government.
It first appeared in Daily Pakistan Global after the Balochistan government challenged a $ 600 million Reko Diq fine.