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Page 119 - மின்சார வல்லுநர்கள் இல்லாமல் எல்லைகள் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

K-Electric surrenders principle of reciprocity, int l arbitration

Top Story February 5, 2021 ISLAMABAD: In a goodwill gesture, the top management of K. Electric has withdrawn its main conditions of Principle of Reciprocity and arbitration through London Court from its draft terms of reference (ToRs) to resolve once for all the decade old disputes over receivables and payables between the K.E and the government entities. The shareholders of K. Electric from Kuwait, Dubai and Saudi Arabia have also given the nod to the top management to remove the clause of Principle of Reciprocity and agree to the local arbitration mainly on the demand of the government paving the way to resolve the historic dispute over receivables and payables, a senior official at Ministry of Energy confirmed to The News.

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