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Reko Diq: Unlawful denial to TCC will cost Pakistan $11.5bn!

SANA MAHMOOD

CHAGAI: Reko Diq mine harboring 11.65m tons of copper and 21.18m ounces of gold has yet again come in the limelight as World Bank’s arbitration tribunal has ruled in favor of TCC.

According to details as a result of the adverse decision Pakistan will have to face a penalty of $11.5 billion as it has failed to award the project to TCC.

It is pertinent to note that earlier while answering to the queries of World Bank’s International Center for Settlement of Investment Disputes (ICSID) Pakistan has accused TCC of malpractices. That too was rejected by ICSID.

 

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M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.