Pakistan welcomes venture’s willingness for negotiated settlement after Reko Diq mine ruling

[Sine Nomine]

Privatization only leads to outsiders controlling companies of your country. You want zionists and their shills controlling Pakistani companies?

Dead Pakistani companies.

You fellows are so simplistic! It is a classic good cop, bad cop technique by the jewish bloody sucking leeches who want to steal this wealth. What is the potential of Reko? Some estimates about $500 Billion of Gold.

Think about the barbarism here - these mines belong to the People of Pakistan. And yet they cannot extract mineral wealth from these mines and cannot even decide who has the legal right to do this just because a FOREIGN Entity sitting thousands of miles away decides the fate of a mine located in a so called sovereign country!

Anyone sitting in the corridors of Power in Pakistan including the Military should be shamed of themselves for allowing such horrendous act to take place.

And then reconfirms my personal belief that this country is in total control of a vicious mafia who steals the wealth of this country whenever it likes, and keeps the people of this country slaves.

Bahi phir yeah fine aap dai dou.

 

[Lincoln]

ISLAMABAD: Pakistan said on Sunday it welcomed a statement by Tethyan Copper expressing willingness for a negotiated settlement after a World Bank tribunal ordered the government to pay $5.8 billion in damages in a dispute over the Reko Diq copper mine.

The statement from the attorney general’s office came after a World Bank arbitration court ruled in favour of Tethyan Copper, a joint venture between Chile’s Antofagasta Plc and Canada’s Barrick Gold, in a dispute over a lease to the mine, located in a remote area of southwestern Pakistan.

The government, which earlier this month signed a $6 billion bailout agreement with the International Monetary Fund, said it had taken note of a statement from Tethyan Copper’s chairman expressing willingness to seek a negotiated settlement.

“The Government of Pakistan welcomes this approach to work towards a mutually beneficial solution that works for both sides,” it said.

However, it said that together with the provincial government of Balochistan, it was still studying the decision by the World Bank’s International Centre for Settlement of Investment Disputes (ICSID). The ICSID ruled against Pakistan in 2017, but had not determined damages owed to Tethyan until now.

Tethyan Copper discovered vast mineral wealth more than a decade ago in Reko Diq, at the foot of an extinct volcano near Pakistan’s frontier with Iran and Afghanistan.



Copyright Reuters, 2019

Haqoomat ko ab hosh aiya hai, bajai yeh kai jab case chal raha tha, uss waqt out of court settlement kartai. It takes an arm twist on the country to make it comply.

So??

What does the global economy have to do with Privatization or Govt. controlled companies??

Of the top 5 revenue makers in the whole world, 3 are govt. controlled Chinese companies. You really need to study stuff before you utter it.

It does not suit Pakistan. All you need to do is study Pakistan's history, and not the world's.

 

[War Thunder]

But the traitors should be punished with minimum of Saudi style beheading.

And who do you expect will punish them? People who themselves are lacking on morality and ability to stand with justice?

 

[waz]

What kind of an “amicable” negotiated settlement, or necessary checks do you expect with a 6 billion gun to your head?

I don’t know, let’s wait and see.

 

[war&peace]

And who do you expect will punish them? People who themselves are lacking on morality and ability to stand with justice?

The state has to play her role or will become irrelevant.

 

[War Thunder]

The state has to play her role or will become irrelevant.

The state has been raped and plundered by the mafia and the ones who were supposed to protect it were and have always been silent spectators, if not participants and facilitators of the rape.
You expect these womanly folk to do anything?

 

[ps3linux]

Negotiated settlement my foot. These As**oles and their Pakistani Pi*ps know the incumbent Govt will fight tooth and nail, worst problem is that if the Govt could find any proof of corruption and kickback present it in the International Court their whole case will not only go south they will have to pay damages, not to mention that they will suffer huge reputation loss.

Our problem is not that we should give the mining rights to a foreign company or internal development. Internal look how Samar Mubarak Mand screwed national exchequer over his fabled coal to gas project, on the other hand when we give the contract to foreign company they totally screw us.

Case in point Saindak Project Ghaddari (Zardari) gave the project to a Chinese company for $50 million for the last 7-8 years they have been extracting gold/silver and copper in the range of thousands of ton haven't paid any royalty, haven't paid the $50 million and now they have defaulted.

A Chinese company was given limited sand extraction project on flow of river near abbotabad, they have been extracting gold out of it, last estimates were 20 kg worth millions and they paid like 3 million PKR for the contract. Minerals are a precious resource entrusting them to foreign companies with sham agreements by the basta*d bureaucracy of Pakistan having no check methods we will be looted of our resources like Afghanistan.

What we need to do is develop our own mining companies of course not fauji they are equally bad as foreign companies due to inherent excessive corruption.

 

[313ghazi]

You fellows are so simplistic! It is a classic good cop, bad cop technique by the jewish bloody sucking leeches who want to steal this wealth. What is the potential of Reko? Some estimates about $500 Billion of Gold.

Think about the barbarism here - these mines belong to the People of Pakistan. And yet they cannot extract mineral wealth from these mines and cannot even decide who has the legal right to do this just because a FOREIGN Entity sitting thousands of miles away decides the fate of a mine located in a so called sovereign country!

Anyone sitting in the corridors of Power in Pakistan including the Military should be shamed of themselves for allowing such horrendous act to take place.

And then reconfirms my personal belief that this country is in total control of a vicious mafia who steals the wealth of this country whenever it likes, and keeps the people of this country slaves.

Exactly. The courts can't force us to pay anything. Anyone else willing to make a profit isn't going to back down because of an ongoing dispute with one company.

They have incurred losses, they should be compensated, but a simple out of court settlement of a cash sum ought to be agreed.

If it was my decision, I'd pay them thier costs and offer them a 30 year contract to setup and manage extraction at the site. In return they'd be paid for the cost of setting up and maintaining a mine, fees for management and 5% of the gold extracted every year for 30 years.

In return they'd have to maintain the mine, manage the work, keep equipment and processes upto date and train up Pakistani staff so that in 30 years time we could hand over to a privately managed but state owned private company who'd take over thier duties of managing the mine.

 

[war&peace]

The state has been raped and plundered by the mafia and the ones who were supposed to protect it were and have always been silent spectators, if not participants and facilitators of the rape.
You expect these womanly folk to do anything?

Mate, every nation that has progressed... had to sacrifice large number of people. China, Russia, USA, Japan, France etc. I think a sacrifice is over due for Pakistani nation.

We are 210+ million people and we will do just fine with 209 million people as well if 1 million corrupts are removed. Anyone who has the taxable income but denies or resists to pay the taxes should be shot. I know there will be a huge uproar and hue & cry. But this surgery is the only solution to remove this malignant tumour. We may not need 1 million to perish...may be 1/10th or 1/100th will do the trick. But it should start from the top. The great purge has become necessary.

Once I bumped into a few tableeghi guys in Pakistan and they asked me to listen to their message..One thing that stood out and I remember to this day. In Urdu... Allah ne farishton to hukam dia ke bani israel ki aik basti ko tabah karne ka. Farishtay jab wahan pohanchay azzab ke liye tu dekha ke aik buzurg Allah ki ibadat main mashghool hai.
Farishtay wapis aye aur Allah se arz ki "ya Allah wahan aik banda hai jo Aap ki ibadat karta hai aur Aap ka hukam hai ke jab tak aik bhi naik insaan kisi basti main ho tu azzab nahin dena"

Allah ne farmaya jao aur is basti ko azzab do aur us banday ke sar par ulta do kiyon ke woh burrai ko dekhta tu hai likin uss ke chahray ka rang nahin badalta. So bhai the good people who are just spectators are also part of the crime.

 

[313ghazi]

As I mentioned in another thread - if they play hardball open a case against Zardari for kickbacks during the agreement of this deal. Doesn't have to be a genuine case. The case drags on and is never concluded, hence sensitive evidence cannot be shared (its a criminal matter vs civil case), we claim we owe nothing because of the corruption, leave it lie for a few years and then go back to settlement mode out of the "kindness of our hearts".

 

[war&peace]

What kind of an “amicable” negotiated settlement, or necessary checks do you expect with a 6 billion gun to your head?

Actually Pakistan has the right to appeal and easily delay it 2-3 years and if pursued in the right way, the verdict can be overturned. Basically, this contract was awarded in fishy circumstances without open bidding so there are a lot of irregularities. So if we can prove that the company got it through corrupt practices and kickbacks and those who signed the contracts were corrupt, then the verdict can be overturned.

 

[ARMalik]

I'm sure we all feel the same way you do. However, the problem is the Pakistan is simply too weak to do anything about it. If this was China, you can bet that they would have been able to arm-twist this company, the international court they used, and whatever international organization necessary to get them an outcome that favors their national interest.

The only way Pakistan can avoid this company is to leave the WTO (World Trade Organization) and due what many argue for, full Islamic state using currency based on gold-standard. You can also tell the IMF to go screw themselves and not pay back their loans, or at least give back the principal without interest. The problem is that foreign investors, aside from GCC & maybe China, will probably avoid investing in Pakistan due to lack of international arbitration like this one. Pakistan, unfortunately, is dependent on foreign investors like these for almost everything.

(1) it is an importing nation
(2) it can hardly produce anything aside from agriculture & textiles
(3) it has no engineering & industrial base to sustain the country let alone power its industrialization (1960's were the opposite).
(4) it does not even have the technology to mine its own natural resources
(5) it does not even have the technology to build or upgrade its railways!

in order to avoid this settlement, Pakistan needs to be able to stand on its feet. It must be able to produce everything indigenous and locally. Iran is an example to follow. They were & are sanctioned to the teeth, yet they still produce electronics, oil & gas extraction plants, ships, cars, rail, pharmaceuticals, chemicals, etc. They have come a long way in becoming self-sufficient. Just look at they shot down the drone in the Gulf with their own SAM? On the other hand, Pakistan is begging China to build or upgrade its railways/highways/ports. These are all basic things that country like Pakistan should be able to do. Iran has connected its country with rail & roads by itself, yet Pakistan has pay billions to China just to build rail!

Pakistan doesn't have the education system or STEM "science technology engineering mathematics" base to achieve similar level of self-sufficiency. The only real effort made to improve education & STEM base was during Musharraf's time under leadership of Atta-ur-Rehman. The moment democracy kicked in with Zardari, HEC lost funding, the rest is history.

Now Atta-ur-Rehman is working under PTI to revive focus on education, the problem is that Imran Khan is too weak politically to do anything. He doesn't have majority and is blackmailed by parties that won as little as one seat. There is the issue of having no money. Now there is the issue of no one wanting to pay taxes. Here in the US, K-12 public school education is free due to the revenue gained from taxpayers. As long as Pakistani's do not pay taxes, you cannot afford to fund education on a massive scale. You can't even afford to build roads, rail, dams, ports, etc. That's why Pakistan will continue to hold the begging bowl as long as people continue to protest against taxes.

Good post mate. I have said this many times here that WTO is for the big boys. The Western Corporations are too strong, too big and can manipulate trading rules at will. In fact, these rules were written for the Corporations to win! Pakistan is an economically insignificant country and open to manipulation. Pakistan government has zero economic literacy. I strongly advocate that Pakistan gets out of WTO temporary, and refuse to accept any verdict for any dispute settlement courts. Once the country has some literacy to deal with international trade, it can rejoin.

 

[War Thunder]

Mate, every nation that has progressed... had to sacrifice large number of people. China, Russia, USA, Japan, France etc. I think a sacrifice is over due for Pakistani nation.

We are 210+ million people and we will do just fine with 209 million people as well if 1 million corrupts are removed. Anyone who has the taxable income but denies or resists to pay the taxes should be shot. I know there will be a huge uproar and hue & cry. But this surgery is the only solution to remove this malignant tumour. We may not need 1 million to perish...may be 1/10th or 1/100th will do the trick. But it should start from the top. The great purge has become necessary.

Once I bumped into a few tableeghi guys in Pakistan and they asked me to listen to their message..One thing that stood out and I remember to this day. In Urdu... Allah ne farishton to hukam dia ke bani israel ki aik basti ko tabah karne ka. Farishtay jab wahan pohanchay azzab ke liye tu dekha ke aik buzurg Allah ki ibadat main mashghool hai.
Farishtay wapis aye aur Allah se arz ki "ya Allah wahan aik banda hai jo Aap ki ibadat karta hai aur Aap ka hukam hai ke jab tak aik bhi naik insaan kisi basti main ho tu azzab nahin dena"

Allah ne farmaya jao aur is basti ko azzab do aur us banday ke sar par ulta do kiyon ke woh burrai ko dekhta tu hai likin uss ke chahray ka rang nahin badalta. So bhai the good people who are just spectators are also part of the crime.

That's what I'm saying mate. The purge, the fixation, the purification is necessary.
But who will do the honors? The same women who are silent spectators when they are not facilitating the process through stuff like NRO?

 

[Lincoln]

Good post mate. I have said this many times here that WTO is for the big boys. The Western Corporations are too strong, too big and can manipulate trading rules at will. In fact, these rules were written for the Corporations to win! Pakistan is an economically insignificant country and open to manipulation. Pakistan government has zero economic literacy. I strongly advocate that Pakistan gets out of WTO temporary, and refuse to accept any verdict for any dispute settlement courts. Once the country has some literacy to deal with international trade, it can rejoin.

China and Russia had no power even coming into the 21st century. Yet they made proper use and came out ahead. The Pakistani problem is that they think there are shortcuts or economic issues are solvable by force. They will continue to blame EVERYONE else in the world be it US, Israel, the Jews who live down the street, neighbours... The issue is really Pakistan it self.

 

[jamal18]

Actually Pakistan has the right to appeal and easily delay it 2-3 years and if pursued in the right way, the verdict can be overturned. Basically, this contract was awarded in fishy circumstances without open bidding so there are a lot of irregularities. So if we can prove that the company got it through corrupt practices and kickbacks and those who signed the contracts were corrupt, then the verdict can be overturned.

The basis of our appeal is that it was awarded illegally; with Zardari in charge can anyone doubt that corruption was there?