Daily Times

The National Accountability Bureau (NAB) on Wednesday filed a reference over financial irregularities in Reko Diq project. According to NAB’s spokesperson, the bureau has unearthed important evidence against the people involved in the scam. The reference has been registered against 26 accused including former officials of the Balochistan government. “The accused caused huge financial loss to the national kitty for their personal interests”, the spokesperson of the graft-buster body said. Tethyan Copper Company (TCC) had been granted license for gold and copper mining at Reko Diq area of Balochistan but former chief justice Iftikhar Muhammad Chaudhry had cancelled the agreement with the company. The company had filed a lawsuit against Pakistan at ICSID, claiming S11.43bn in damages in 2012. In July, last year, the International Centre for Settlement of Investment Disputes (ICSID) had imposed a penalty of 5.8bn on Pakistan in the Reko Diq case. Later, the verdict was challenged by Pakistan in the International Court of Justice (ICJ). In the month of September, the ICJ awarded a stay in Reko Diq case until the final hearing set for May 2021.