Wednesday 20 November 2019
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brecorder - 15 days ago

Pakistan escapes $1.2 billion penalty as Turkey helps resolve Karkey dispute

ICSID had asked Pakistan to pay $760 million along with interest to Karkey after it filed arbitration claims against the country under the Bilateral Investment Treaty. Pakistan lost the case in World Bank’s ICSID in 2017, which was filed by Karkey. In June 2019, Islamabad had decided to open an escrow account in a European [ ]


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