Daily Times

Committee of International Arbitration Tribunal has issued a stay order on the request of Pakistan in Reko Diq case. According to sources of Law Ministry, the decision of arbitration tribunal was challenged by Pakistan in November 2019. Pakistan requested that tribunal’s decision should be reversed and a stay order be issued until the final decision. It is pertinent to mention that The International Center for Settlement of Investment Disputes (ICSID) announced a massive $5.976 billion award against Pakistan in the Reko Diq case in July 2019, which is one of biggest in ICSID history. ICSID awarded a $4.08 billion penalty and $1.87 billion in interest.