$6 billion penalty imposed on Pakistan in Reko Diq case

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. 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.

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Pakistan has managed to get reduced penalty from a massive $16bn to $6bn in Reko Diq case.

Source: ExpressTribune