NAB to Reveal Individuals Involved in Rekodiq Scam

NAB to reveal individuals involved in Rekodiq scam. 26 have been accused including several former officials of the Balochistan government.

NAB to unearth several individuals involved in a scam related to financial irregularities in the RekoDiq project.

According to NAB, the reference has been registered against 26 accused people including former officials of the Balochistan government.

The accused caused huge financial loss to the national kitty for their personal interests,

Tethyan Copper Company (TCC) had been granted a license for gold and copper mining at RekoDiq, area of Balochistan but the former chief justice Iftikhar Muhammad Chaudhry had canceled the agreement with the company.

The company had filed a lawsuit against Pakistan at ICSID, claiming S11.43bn in damages in 2012.

In July, last year, the International Center for Settlement of Investment Disputes (ICSID) had imposed a penalty of 5.8bn on Pakistan in the Reko Diq case.

Later, the verdict was challenged by Pakistan in the International Court of Justice (ICJ).

According to ARY News, in the month of September, the ICJ awarded a stay in Reko Diq case until the final hearing set for May 2021.

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