The government of Pakistan has achieved great success in the Reko Diq case, the World Bank’s Arbitration Forum ICSID has issued a restraining order on Pakistan’s $6 billion fine.
According to the report, in July 2019, the International Center for the Settlement of Investment Disputes (ICSID) Tribunal ruled in favor of the Australian company Tethyan and ordered Pakistan to pay $6 billion to the Australian company.
The Attorney General of Pakistan says that this is a great achievement of Pakistan and its legal team in the case of Reko Diq. In 2019, Pakistan had initiated legal proceedings to annul the $6 billion fine.
According to the Attorney General, ICSID had on March 10, 2020, on the request of Pakistan, withheld the payment of an interim injunction of $6 billion. It is to be noted that on September 16, ICSID has ordered to make the restraining order permanent in favor of Pakistan. The final hearing on Reko Diq’s case will be held in May 2021.