British Virgin Islands court unfreezes PIA assets in Reko Diq award case

While addressing a news conference, the law minister said this will also provide relief to the country on the economic front.

Farogh Naseem said the court has accepted Pakistan's sovereign immunity stance in the case.

He recalled that the international arbitration tribunal of the World Bank’s Centre for Settlement of Investment Disputes back in July 2019 had announced a huge award of 5.976 billion dollars against Pakistan in the Reko Diq case.

At the same time, Pakistan was facing many other disputes at the international level including that of Karkey and Broadcast sheet.

“Legal teams were constituted to effectively and forcefully present Pakistan's stance in those cases,” he added. 

He further stated that those timely steps have now started showing results.

Farogh Naseem expressed the commitment to continue to defend Pakistan's stance in different cases at different international forums.