Accountability, Dispute Resolution, Exhaustion of Local Remedies, Investor-State arbitration, Pakistan, Prevention
Pakistan’s Woes with Foreign Investors – Ways to Prevent the Tethyan Saga
Introduction In July this year, an International Centre for Settlement of Investment Disputes (ICSID) based arbitration tribunal ordered the Government of Pakistan (GOP) to pay a massive $5.8 billion to Tethyan in compensation. The legal battle between Tethyan and GOP started in 2011 when GOP refused to grant a mining lease to Tethyan after it…