Pakistan must pay a total of US $ 5.840 Billion including interest to TCC in damage : ICSID

[niao78]

We would if we would could. The company won't accept it.

I just don’t get one thing, these was bound to happen considering 2017, then why there was no effort to resolve this deplomatically ? If i am not wrong company stated multiple time earlier that they are open to resolve. You guys really need to check your prioritise as a nation.

 

[AZ1]

I just don’t get one thing, these was bound to happen considering 2017, then why there was no effort to resolve this deplomatically ? If i am not wrong company stated multiple time earlier that they are open to resolve. You guys really need to check your prioritise as a nation.

There was dont think govt is stupid but it was a trap and we fall into it like anyother natural resources we have nawaz and zardari as enemy of pakistan and their supporter we dont need enemy

 

[kmc_chacko]

"Tell FATF to **** off."
" We shouldn't listen to IMF."

How ?
Does Pakistan has any other choice ?

 

[RIP Pak LAW]

Child. There's a huge fine on Pakistan slapped and you can't stop ******* off to Nawaz.

Happened in PPP rule, under then CJP. But Nawaz Sharif is culprit in this. How stupid.

The case was processed during pmln tenure and Dr Samand Mubaruk was sent as govt representative by pmln govt hence pmln shares the responsibility as well of being incompetant and not taking the case seriously.

 

[niao78]

Ho

STFU Indian. No one asked advice from an enemy.

It’s not advise, neither i hate Pakistan nor i am enemy. I have many Pakistani friends and we play CS, Pubg together honestly speaking you guys only care about military achievements. As most of my friends are pleased and only talk about it during our time together. As nation there is lot more than Army my friend. Again honestly saying i would be happy if Pakistan somehow don’t pay this fine and use found for economy and development process.

 

[RIP Pak LAW]

Okay, the case continued under PTI government too. Will PTI share responsibility.

It was a lost case since beginning. CJP was idiot and so was recent one gone.



The military achievements and the economy in 60s and 80s is all there is to boast about.

No it wasn't continued during pti govt. Decision was made an year ago and just detailed verdict announced now. Read the article carefully.

And yes I agree with the idiot CJ part. He is mainly responsible for this case.

 

[kmc_chacko]

Pakistan can pay it. Our economy isn't shrinking, it's just growing a lot less. And this fine will be given a period of 5 to 10 years I imagine in installments.

But issue is that it adds to the slowdown and tightening economy. Domestic businesses, people's buying power and industries are already suffering... so it's not good.

But Pakistan will have to take more loans I imagine.
You're frustrated.

I asked how will you implement the line "We shouldn't listen to IMF" aren't Pakistan have to implement IMF conditions for getting loan ? and above to that recently it was told that Pakistan is getting total loan package of $38 billions .

You guys are suppose to pay $5.8 billions as compensation , are you guy gone mad , what's IK is doing ? is he just blame NS or others or will he find solutions and who in the world pays compensation in parts i.e, even in 5-10 years . And it seems loan is the solution for all Pakistan's problem isn't it ?

It seems more than burden, my frustration is important. as always misplaced priorities.

 

[Baburfromsarmarkand]

These descisions don't bind us. We are a sovereign nation with nikes. There isn't much enforcement they can carry out.

 

[RIP Pak LAW]

I asked how will you implement the line "We shouldn't listen to IMF" aren't Pakistan have to implement IMF conditions for getting loan ? and above to that recently it was told that Pakistan is getting total loan package of $38 billions .

You guys are suppose to pay $5.8 billions as compensation , are you guy gone mad , what's IK is doing ? is he just blame NS or others or will he find solutions and who in the world pays compensation in parts i.e, even in 5-10 years . And it seems loan is the solution for all Pakistan's problem isn't it ?

Pakistan will appeal against the verdict as per the local news which will linger the case for few more years.

 

[Imran Khan]

tension na lo itny pesy to apny pass hain bhi nhi

 

[Lincoln]

I asked how will you implement the line "We shouldn't listen to IMF" aren't Pakistan have to implement IMF conditions for getting loan ? and above to that recently it was told that Pakistan is getting total loan package of $38 billions .

You guys are suppose to pay $5.8 billions as compensation , are you guy gone mad , what's IK is doing ? is he just blame NS or others or will he find solutions and who in the world pays compensation in parts i.e, even in 5-10 years . And it seems loan is the solution for all Pakistan's problem isn't it ?

It seems more than burden, my frustration is important. as always misplaced priorities.

I know some Indians lack the intellectual capability to understand literally anything, so I will make it simple for you.

I was quoting some members and their stupid comments on here.

And loan package is $6 billion from IMF, not $38 billion.

tension na lo itny pesy to apny pass hain bhi nhi

Ghabrana mat... Wo aap ki hi jaib sai hakoomat kheenchay gi

These descisions don't bind us. We are a sovereign nation with nikes. There isn't much enforcement they can carry out.

Lo ji. This is what I mean when I say some idiots on forum say this.

Dear, your whole country is on the edge of defaulting. We don't have forex reserves to even last 2 months unless we get loans from Saudi Arabia, UAE, China, IMF, ADB, and World Bank.

This court is under World Bank. If you don't bind to it, you will be blacklisted. And we are still in FATF greylist which is separate.

Wake up. Do you want to sell your nukes? Because that's what Russia considered doing after Soviet Union breakup, due to horrible economy.

Pakistan will appeal against the verdict as per the local news which will linger the case for few more years.

Only sane choice possible. They should appeal it and delay it for more years, and must try to settle out of court but I don't know hoe you can settle $4 billion.

 

[AZ1]

Okay, the case continued under PTI government too. Will PTI share responsibility.

It was a lost case since beginning. CJP was idiot and so was recent one gone.



The military achievements and the economy in 60s and 80s is all there is to boast about.

Who free.ifitkhar.chaudry in ppp time? Musharaf place banned on ifitkhar chaudry. Now your thinking will stop

 

[Yaseen1]

We should use it as oppurtuinty to end contract to foreign companies on our gold mines and govt should utilize this reserve by taking control of gold mines

 

[Lincoln]

We should use it as oppurtuinty to end contract to foreign companies on our gold mines and govt should utilize this reserve by taking control of gold mines

We don't have equipment to survey, extract nor the expertise.

 

[Norwegian]

Pakistan slapped with $6 billion penalty in Reko Diq case
By hasnaat malik
Jul.13,2019

TCC won award in international arbitration after Supreme Court nullified its contract

ISLAMABAD: The International Center for Settlement of Investment Disputes (ICSID) has announced a massive $5.976 billion (Rs944.21 billion) award against Pakistan in the Reko Diq case, which is one of biggest in ICSID history.

The international tribunal on Friday issued a 700-page ruling against Pakistan in the Reko Diq case. Sources revealed to The Express Tribune that ICSID awarded a $4.08 billion penalty and $1.87 billion in interest. However, Pakistan has decided to challenge the award “very soon” by filing a revision application, sources said. The revision application may take two to three years to decide.

Earlier, Tethyan Copper Company’s (TCC) management, the complainant whose contract was terminated, had claimed $11.43 billion in damages. In 2012, TCC filed claims for international arbitration before the ICSID of the World Bank after the Balochistan government turned down a leasing request from the company. The litigation has continued for seven years. Former chief justice of Pakistan


Iftikhar Muhammad Chaudhry’s verdict in the Reko Diq case was the first in a series of events that led to the massive award.

After the case was filed, Pakistan lost its first jurisdictional challenge, when the international tribunal said that it has the jurisdiction to adjudicate the Reko Diq matter. After that, the tribunal declared that there was no wrongdoing in the agreement – the grounds on which the Supreme Court of Pakistan terminated the deal in 2013 – and eventually, the tribunal held that Pakistan is liable to pay the damages.

The only remaining issue in the case was the final penalty on Pakistan, which has been now announced.