Tribun­al notes ex-AGP failed to substa­ntiate Pakist­an’s allega­tions that Karkey was engage­d in corrup­tionISLAMABAD: The International Centre for Settlement of Investment Disputes (ICSID) has declared that the Supreme Court of Pakistan’s judgment in the rental power projects (RPPs) case is ‘arbitrary’. In August 2017, ICSID had announced $900 million award in favour of Turkish company Karkey. It is also noted that the tribunal does not consider itself to be bound, as an international tribunal, by the finding of the Supreme Court that Karkey’s RPP contract was void ab initio. He said Pakistan had gathered strong evidence of corruption to establish its case in the international tribunal. Now Pakistan has engaged a new legal representation – GST LLP, a Miami-based law firm – to contest the revision proceedings before the ICSID.

Source: The Express Tribune July 16, 2019 20:37 UTC