Reko Diq case: According to media source, PM Khan convinces TCC to withdraw penalty
According to the company (TCC), Pakistan has great potential of Copper and gold, they are interested to start from where they left-media source
- PM Khan assures the Tethyen coper Company to provide full support if they want to revise their investment plan.
- Tethyan Copper Company is interested to start work from where they left.
Significant progress has been made on the Reko Diq case on the initiative of Prime Minister Imran Khan.
Moreover, while talking to Prime Minister Imran Khan the executive of the company (TCC) has agreed to withdraw penalty that was awarded by The International Centre for Settlement of Investment Disputes (ICSID).
ریکو ڈک کمپنی ٹیٹھیان کو افتخار چوہدری کے سوموٹو نوٹس کیوجہ سے منصوبہ سے روک دیا گیا ۔ عالمی ثالثی فورم نے پاکستان کو 6 ارب ڈالر جرمانہ کیا ۔ وزیراعظم عمران خان کمپنی کے چیف ایگزیکٹو سے ملے ہرجانہ ختم کروادیا کمپنی نے دوبارہ کام پہ آمادگی ظاہر کردی
— MNA (@Engr_Naveed111) October 16, 2019
Senior anchor Zamir Haider while talking to the media source said, “On the initiative of PM Khan, the government contacted the management of the company and discussed future prospects of the matter”.
He further added, “PM Khan assured the Tethyan Copper Company (TCC) if they want to revise their investment plan the government is willing to provide full support to the company”.
“Company has agreed to withdraw the decision of fining Pakistan, will adjust it in future investment, planning aggressive future investment program in the same area” added Haider.
“According to the company Pakistan has great potential of Copper and gold, they are interested to start from where they left,” says anchor Zamir Haider.
Reko Diq Case
In July this year, The International Center for Settlement of Investment Disputes (ICSID) has slapped Pakistan in the Reko Diq case with a massive penalty of $5.976 billion. That was one of the biggest penalties in the history of ICSID.
Tethyan Copper Company (TCC) on the termination of the contract by Pakistan filed a complaint to claim damages.
In 2012, the government of Balochistan turned down a leasing request from TCC, because of which the company filed a case before the ICSID of the World Bank for claims of international settlement.