Pakistan fined $1.6b as Turkish RPP firm wins arbitration case

[doe33]

ISLAMABAD: The International Centre for Settlement of Investment Disputes (ICSID), an arm of the World Bank which offers arbitration and conciliation services for governments and private foreign investors' disputes, has given its decision in favour of Turkish firm Karkey Karadeniz Elektrik Uretim and imposed a fine of $1.6 billion on Pakistan, sources informed Geo News on Wednesday.

Karkey had registered a claim with the ICSID against Pakistan in 2013 for violation of their contract of as many as $564.6 million for a period of five years, for building rental power plants in Karachi.

The contract was struck down in the Supreme Court decision by then-Cheif Justice Iftikhar Chaudhry in 2012 on a petition by Pakistan Muslim League-Nawaz leader Khawaja Asif and Faisal Saleh Hayat, which called for shutting down all rental power projects in the country.

According to sources, in March 2017, Pakistan offered to give compensation of Rs700 million to Karkey through the Turkish government. Both the respective governments are in negotiations with the company, said sources.

https://www.geo.tv/latest/158948-pak-fined-16bn-as-turkish-firm-wins-icsid-case

 

[doe33]

 

[Windjammer]

View attachment 426591

Go ahead swallow it ....Indian.

 

[doe33]

Go ahead swallow it ....Indian.

Poor try..Hire some good lawyers..

 

[DESERT FIGHTER]

Go ahead swallow it ....Indian.

WTF is wrong with these people!

 

[Windjammer]

Poor try..Hire some good lawyers..

The last thing Pakistan would ask for is some Indian advise.

 

[DESERT FIGHTER]

Poor try..Hire some good lawyers..

Will we, meanwhile u can stand and take out the stick stuck up ur rear... obsessed lil rat.

 

[friendly_troll96]

Go ahead swallow it ....Indian.

Thanks for the pic. Posting on reddit.

 

[doe33]

The last thing Pakistan would ask for is some Indian advise.

Okay..
Eat some Turkish advice

 

[Windjammer]

WTF is wrong with these people!

Indian farmers celebrating India's multi billion dollar economy and reserves.

 

[friendly_troll96]

Go ahead swallow it ....Indian.

They are our Elite Indians. Wait..where's levina?

 

[doe33]

Indian farmers celebrating India's multi billion dollar economy and reserves.

They are few mere political stooges doing their work if you do some ground work..I don't know how is it even a context here or even economy.

The shipping company was awarded contracts worth $560 Million..Now Pakistan will be paying them $1.6 Billion..
We are definitely not rich like you..You don't hire good lawyers whether in ICJ or in even these things intentionally cause you have enough money..Obviously we are poorest people here..

 

[Windjammer]

Okay..
Eat some Turkish advice

Have you swallowed what Admiral Gorshkov served you.

 

[doe33]

Have you swallowed what Admiral Gorshkov served you.

Let's talk on the topic & don't derail the thread please.1.6 Bn is a huge amount according to us.

 

[Windjammer]

They are few mere political stooges doing their work if you do some ground work..I don't know how is it even a context here or even economy.

The shipping company was awarded contracts worth $560 Million..Now Pakistan will be paying them $1.6 Billion..
We are definitely not rich like you..You don't hire good lawyers whether in ICJ or in even these things intentionally cause you have enough money..Obviously we are poorest people here..

You people have the habit of washing the soap before hands.
It would help you to stop humiliating yourself, if you read what you post first.

According to sources, in March 2017, Pakistan offered to give compensation of Rs700 million to Karkey through the Turkish government. Both the respective governments are in negotiations with the company, said sources.