Pakistan
Reko Diq case: Pakistan, TCC agree over 50pc shares
Pakistan and TCC have agreed to divide shares with each side getting 50 per cent of them, contrary to 25 per cent shares for Pakistan in the previous deal
Islamabad: In a major breakthrough in Reko Diq case, Pakistan and Tethyan Copper Company (TCC) have agreed over 50 per cent shares.
It is pertinent to mention here that this successful negotiation likely paving way for averting a multi-billion-dollar fine imposed on Pakistan from an international court.
According to the sources, Pakistan and TCC have agreed to divide shares with each side getting 50 per cent of them, contrary to 25 per cent shares for Pakistan in the previous deal.
The sources quoted that the agreement between them would likely be signed in February and if finalized, it would avert a looming threat on Pakistan over the imposition of a US$6 billion fine.
It further mentioned that they wanted a legal cover for their investment this time and do not want a repeat of the previous episode that saw a legal battle between two sides. “We are in talks with Pakistan to make out of court settlement over the issue,” the TCC said quoted privy sources.