Next government to deal with financial fallout from Karkey and Reko Diq cases: report

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ISLAMABAD: The incoming government will have to deal with legal and financial repercussions due to judgments passed by the Supreme Court during chief justice Iftikhar Chaudhary epoch, according to a report published in a local media outlet.

The Reko Diq and Karkey Rental Power Plant cases are expected to conclude in 2019, during the new government’s era.

Officials said, “Pakistan is facing at least 36 different and some Independent Power Producers (IPPs) have filed cases with international arbitrators to get their payments, which amount to at least a trillion rupees.”

The International Centre for Settlement of Investment Disputes (ICSID) decided against Pakistan and asked it to pay 80billion rupees to Karkey Karadeniz Elektrik Uretim AS. Pakistan’s government filed a plea to annul the award. ICSID is expected to give its final verdict next year.