The Pakistan Stock Exchange recorded an all-time high volume of stocks traded during Wednesday s session amid a positive sentiment due to GDP growth numbers and market-friendly budget expectations. “The market is optimistic due to the positive news relating to the economy,” said Ahmed Lakhani, a senior research analyst. “Especially the GDP growth rate of 3.94% and the development in the Reko Diq case have positively affected the market.” On Tuesday, the British Virgin Islands High Court ordered unfreezing offshore assets of the Pakistan International Airlines in the Reko Diq case. These assets include PIA’s interests in Roosevelt Hotel in New York and Scribe Hotel in Paris. A.
PIA Offshore Assets Unfrozen by British Virgin Islands in Reko Diq Case
PIA Offshore Assets Unfrozen by British Virgin Islands in Reko Diq Case
Attorney General’s Office hails decision as ‘great victory’ of Pakistan’s legal team
The British Virgin Islands High Court on Tuesday withdrew orders that had earlier frozen the offshore assets of Pakistan International Airlines as part of a settlement in the ongoing Reko Diq dispute, giving control back to the airline.
“Pakistan has won the BVI [British Virgin Islands] case initiated by TCC [Tethyan Copper Company] to enforce the ICSID [International Center for Settlement of Investment Disputes] award,” announced the Attorney General’s Office, adding that all ex-parte orders obtained by TCC had been set aside.
The British Virgin Islands High Court has ordered unfreezing offshore assets of the Pakistan International Airlines in the Reko Diq case, the office of the Attorney General of Pakistan confirmed Tuesday. The court has recalled its December 2020 orders to attach certain PIA assets in the Reko Diq case against Pakistan. These assets include PIA’s interests in Roosevelt Hotel in New York and Scribe Hotel in Paris.
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Reko Diq case: Court in British Virgin Islands orders to freeze Pakistani assets
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Reko Diq case: Court in British Virgin Islands orders to freeze Pakistani assets
ISLAMABAD (Dunya News) - A foreign company Tethyan Copper has started the process of freezing Pakistani assets in Reko Diq case. Responding to the move, the Attorney General s Office said that the order was given without listening to Pakistan and all resources will be used to defend the country’s interest.
According to the details, progress has been made in the Reko Diq case. Tethyan Copper Company has started the process of freezing Pakistani assets.