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Event description
This panel will discuss the issues and common questions behind the system of investor-state dispute settlement (ISDS). About this event
The system of investor-state dispute settlement (ISDS) has aroused much controversy and backlash in recent years. Efforts for reform have been made by European Union, the United Nations Commission on International Trade Law (UNCITRAL), the International Centre for the Settlement of Investment Disputes (ICSID), and other stakeholders to respond to the public criticism. What are the points of friction that trigger public criticism against ISDS? What is the status of the reform options currently being discussed? What are the prospects of ISDS reform?
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The Reko Diq project site. Photo courtesy Tethyan Copper Company Pakistan/File
ISLAMABAD: The federal government is weighing options how to deal with a recent London High Court judge’s rejection of Balochistan government’s defence before the International Chambers of Commerce (ICC) tribunal that it lacked jurisdiction to arbitrate a dispute in the Reko Diq mining venture in view of corruption allegations.
An informed source privy to the development told
Dawn that one of the options could be challenging the decision of the London High Court judge before the Court of Appeal in the United Kingdom. The International Disputes Unit (IDU) housed inside the Attorney General office in the Supreme Court building was reviewing the ruling and could reach a decision very soon, the source said, adding that a final approval about challenging the ruling was yet to taken.
Pakistan mulls options in Reko Diq case
UK high court rejected Islamabad’s plea to raise corruption charges in ICC
ISLAMABAD:
Despite the rejection of its plea on corruption charges, Pakistan has various options to deal with the Reko Diq case, wherein the country is facing a massive penalty of $6 billion.
A UK high court on July 6 rejected Pakistan’s plea to raise corruption charges in the International Chamber of Commerce (ICC), which is hearing the Tethyan Copper Company’s (TCC) case against Pakistan.
A senior government official told The Express Tribune that Pakistan was considering various options, including challenging the UK high court’s decision in a court of appeal.