Pakistan is again facing an international dispute before the International Centre for Settlement of Investment Disputes (ICSID) over what appeared to be the Islamabad-Peshawar Motorway (M-1) project. This time again the claimant against Pakistan is a Turkish construction company.
The ICSID is part of the World Bank Group and handles disputes between international investors.
Although details of the case initiated by Bayindir Insaat Turism Ticaret are scarce, the International Disputes Unit (IDU) housed inside the Attorney General Office within the premises of the Supreme Court told Dawn that it would vigorously pursue the case and safeguard the country’s interest at all costs.
The Ankara-registered company’s claim under the 1995 Turkey-Pakistan Bilateral Investment Treaty (BIT) was registered at the ICSID on Oct 12, but details of the case are not yet known, including the quantum of the claim which would be determined in case the decision came in favour of the claimant company.