Islamabad: Pakistan's economic situation is not hidden from the world. Pakistan, for its needs often pleads with the World Bank and IMF for financial assistance.
The International Tribune has imposed a fine of $ 5.8 billion, or $ 580 million on Pakistan. This fine is equal to two per cent of Pakistan's GDP. The International Tribune has imposed this fine on Pakistan for the cancellation of the mining lease of the Australian company. The government of Pakistan allowed mining on lease to a company called Tethyan Copper Company in Baluchistan, but Pakistan cancelled this mining lease. The Reko Deq district of Balochistan province of Pakistan is famous for other mineral wealth including gold and copper.
The Imran government of Pakistan had cancelled the mining lease given to the Tethyan Copper Company, due to which the fine has been imposed on Pakistan. Tethyan Copper Company has equal partnerships with Barrick Gold Corporation of Australia and Antofagasta PLC of Chile. Pakistan has requested the World Bank International Center for Settlement of Investment Dispute, which is being discussed.
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