Pakistan Has To Pay A Fine Equal To Two Percent Of GDP
Pakistan has to pay a fine equal to two percent of GDP, Imran appeals to International Tribunal. Pakistan, which is going through an economic crisis, is in such bad condition that it has requested to withdraw the $ 5.8 billion (more than 42 thousand crore rupees) fine imposed by the International Tribunal.
He argues that paying the fine will lead to difficulties in dealing with the epidemic. The penalty was imposed for refusing to grant a mining lease to an Australian company. According to the report of the news agency, this fine of about 600 crores imposed by the International Tribunal on Pakistan is equal to two percent of its GDP.
Not only this, but it is also almost equal to a bailout package recently approved by the International Monetary Fund for Pakistan. Explain that the Reko Dek district of the Balochistan province of Pakistan is famous for other mineral wealth including gold and copper. The government of Imran considers it a strategic national asset.
The World Bank International Center for Settlement of Investment Dispute is considering Pakistan’s appeal against the penalty imposed on the cancellation of the mining lease granted to the Tethyan Copper Company. Barrick Gold Corporation of Australia and Chile’s Antofagasta plc have equal stakes in Tetheon Copper Company. Meanwhile, the government of Balochistan has formed a company of its own to develop the mine.
Since commodity prices are rising and currently international gold prices are more than two thousand dollars an ounce, the provincial government wants to take advantage of this. On the other hand, the Government of Pakistan and the Tethyan Copper Company have expressed a desire to discuss alternative solutions.
On the other hand, Imran Khan, who came to power by promising to give a new Pakistan, has also come under the target of opposition due to inflation and unemployment in the country. This time Imran is surrounded by allegations of corruption against his top aide Lt Gen (Retd) Aseem Salim Bajwa.
