Breaking News: Further to our previous story on the subject. It is now confirmed that due to the folly of Former Chief Justice Iftikhar Chaudhry and his rash decision making has cost Pakistan dearly. It was filed in 2012 by Barrick and Antofagasta against Pakistan in International Centre for Settlement of Investment Disputes (ICSID) under violation of Bilateral investment treaty with Canada as the original agreement was signed with Tethyan Copper incorporated in Canada and Chile.
The companies went into litigation against the Government of Pakistan immediately after they were blocked from carrying out their contractual obligations. Even at the time, many had tried to advise former Chief Justice of Pakistan Mr. Chaudhry about the consequences but obviously, it fell on deaf ears. What Baaghi can confirm is that the total cost to be slapped the government will be far more than the initial US$ 4 Billion. On top of that, interest will have to be paid as well. This means the total cost to be paid by the GOP will be US$ 4.7 Billion.
Though we still do not have any official confirmation yet, the executives of both companies have confirmed to us, on the condition of anonymity that Pakistan will pay heavily to the tune US$ 4.7 billion in this litigation.