Amount reported in Karkey case is incorrect: Spokesperson

ISLAMABAD: A spokesperson for Government of Pakistan, while clarifying a news item regarding Karkay Karandeinz Vs Pakistan Arbitration Award by International Court for Settlement of Investment Disputes (ICSID), has said that the impression of hiding the award for a long duration is baseless.

In a statement issued here Thursday said that the proceedings were conducted from March 2013 to March 2016 and the award was announced on August 22, 2017 as intimated by ICSID on its website.

It was further clarified that the amount of the award mentioned in a section of media was also incorrect.

The Spokesperson stated that the Government is examining the award from all aspects including availing all legal remedies under the international arbitration laws.