The World Bank’s International Centre for Settlement of Investment Disputes has granted stay on the enforcement of the penalty imposed on Pakistan in the Reko Diq mining lease dispute.
In a statement in Islamabad, the office of Attorney General for Pakistan described the development as a success for the country and its legal team.
In July last year, an international arbitration tribunal of the ICSID had slapped nearly six billion dollars penalty on Pakistan for denying a mining lease to an Australian company.
