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Islamabad: The Chief Justice of Pakistan Justice Umar Attabandial has observed that the results of many steps taken to improve the justice system of Pakistan will be seen after some time. Whatever the government does on the Recodek issue, it must do so in accordance with international laws, otherwise the company will once again go to an international arbitration forum.
According to information, the president’s reference related to the Rekodic project was heard in the Supreme Court, where Makhdoom Ali Khan, the lawyer of the investor Barrack Gold Company, ended his arguments.
In his arguments, lawyer Makhdoom Ali Khan told the court that 85% of the goods will be paid once they arrive at the port, while the remaining 15% will be paid according to the market rate and quality once they reach their destination. Apart from this, if any mineral is found, the process is mentioned in the agreement and if any rare mineral is found, the government will buy it at the market price, and if any strategic mineral is found, the government will buy it. you can take it for free.
He said that once the land is taken, the company will pay when the government will provide the facility, the construction and maintenance of central roads will be the government’s work, the construction of the road from Nokundi to this project. the responsibility of the company, while these highways are not only for the project but can be used by the general public. Apart from this, the provision of security at the border, in the province and in the region will be the responsibility of the government and the security within the system will be the responsibility of the company.
Lawyer Makhdoom Ali Khan said in his interviews that the goods from the Rekodic project will be crushed and reach the port through the waterway, one percent of the construction of the Rekodic project and 0.4% of the annual income will be used for public cooperation. 7,500 jobs will be created in construction and 4,000. The company wants to make the Rekodic project fully transparent and compliant with the law.
Justice Muneeb Akhtar noted that 50 percent of the shares in the Rekodic project are from Pakistan, the dispute will also affect Pakistan, while the Chief Justice of Pakistan noted that whatever the government does, it must remember international laws, otherwise the company will have a negative impact. go to international arbitration. The forum will be visited, there is a big difference between the justice system of Pakistan and the international justice system, the development of the justice system of Pakistan is a big challenge for us, foreign investors should also trust justice. the Pakistani system.
The Chief Justice said that the results of the many steps taken to improve the justice system in Pakistan would be seen after some time. an agreement was reached.