Panel set up for talks with Karkey in power plants case

A Senate panel was informed on Wednesday that the government had formed a committee to negotiate with the Turkish firm, Karkey, the $800 million arbitration cost imposed by the International Centre for Settlement of Investment Disputes (ICSID) in the rental power projects (RPP) case.

The government is trying for an out-of-court settlement with Karkey for minimal penalty payouts and considers that a government-to-government engagement could deliver the results.

Published in Dawn, 25th January,2018