PIAF asks govt to settle Reko Diq issue as Pakistan resolves $1.2b Karkey case


LAHORE :      The Pakistan Industrial & Traders Association Front (PIAF) chairman Mian Nauman Kabir has appreciated the efforts of the government to settle the Karkey case, avoiding a penalty of $1.2 billion, asking the authorities to also resolve the Reko Diq case.
The International Centre for Settlement of Investment Disputes (ICSID), one of the five organizations of the World Bank Group, had announced a huge award of $5.97 billion against Pakistan in the Reko Diq case in July this year.
Mian Nauman said that the Reko Diq mining issue was grossly mishandled from its very inception, from its gross administrative to bureaucratic mismanagement of letting it go to ICSID. He said that Pakistan, which has already been facing a financial crisis, was slapped with compensation penalty of around $6 billion.
Most of the problems, whether economic crisis or threats of terrorism, extremism and political instability that threaten our national interest, are the result of our own mishandlings, he added.