ISLAMABAD - Federal Minister for Law and Justice Dr Muhammad Farogh Naseem on Wednesday said the High Court of Justice in the British Virgin Islands (BVI) had unfrozen the assets of Pakistan International Airlines (PIA) after accepting the sovereign immunity of Pakistan in the Reko Diq award case.
Addressing a press conference here, he termed the decision a great victory as the BVI had sustained Pakistan’s point of view regarding sovereign immunity. He said the Supreme Court of Pakistan had suspended the Reko Diq contract with the Tethyan Copper Company over charges of corruption.
If a contract was secured through corruption then it was not called an investment in the international law and usually the courts suspended such contracts, he added. “I want to congratulate Prime Minister Imran Khan, cabinet members, Attorney General Office, head of International Dispute Resolution Ahmed Irfan Aslam and in particular all the persons, who had contributed their services for the vindication of Pakistan’s stance in the Reko Diq Award case,” he said.
Dr Farogh said when the incumbent Pakistan Tehreek-e-Insaf (PTI) government came into power in August 2018, it inherited a plethora of issues. The economy was in a shambles, while cases against huge awards given by international courts in the Reko Diq ($ 6.5 billion), Karkey dispute, Broadsheet and Nizam of Hyderabad Deccan case were pending.