ISLAMABAD - The Turkish power company Karkey Karadeniz Uretim has served the final legal notice to Pakistan govt to pay the company damages to the tune of US dollars 75 million for what they claimed illegally barring the company's power plant mounted ships to sail out of country's waters.
In the legal notice which was served on Nov 26, it was further mentioned that as the six months period has expired since the first notice from the company had been served on Government of Pakistan, so the company would reserve the right to take the case to the International Arbitration Court invoking the Article VII of the agreement between Islamic Republic of Pakistan and Republic of Turkey concerning Reciprocal Promotion and Protection of Investments, in case the damages to the company are not paid and settlement of the dispute to their satisfaction.
Sources in Ministry of Law and Justice informed TheNation that government was mulling over the legal options in case the Turkish power company would take the matter to the International Arbitration Court besides preparing the reply to the notice served on Government of Pakistan seeking damages of US $ 75 million for what they termed the illegal detention of the Karkey's vessels at Port Qasim.
In the legal notice the company's lawyers had given chronology of the events which had taken place since the inking of electricity provision deal with Government of Pakistan and the final settlement with National Accountability Bureau (NAB), under which the company under duress agreed to pay back US $ 17.2 million to the ace accountability body of the country for not meeting the conditions of power supply agreement.
It is pertinent to mention here that on the directives of Supreme Court, NAB had barred the Karkey's ships to sail out of country's sea limits and served it with notice to pay back US $ 125 million loss caused to Government of Pakistan due to non-fulfillment of the power supply agreement for which the company was paid mobilisation fund of US $ 89 million in advance.
The Karkey's management in its legal notice had also levelled serious allegations against NAB for exerting undue pressure on the company to agree to pay back the money, which it had taken for mobilisation of the ships and later after lengthy negotiations the company's management was forced to pay back US $ 17.2 million for moving out its ships detained at Port Qasim.
But later the NAB authorities once again went back from its words and came up with new demands, it stated.
Sources in the Ministry of Law informed that as the matter was in the Supreme Court so government is bound to follow the directions of the apex court and now they would be weighing options how to handle the case.
It is pertinent to mention here that Turkey also wanted to see the matter resolved amicably and in this connection even the Prime Minister and President of Turkey had taken up the matter at top government level.