Explanation

PTI Government has succeeded in negotiating a waiver of the fine imposed on the country in the dispute with Karkey Karadeniz, the Turkish company that had set up a rental power plant in Pakistan and that became the subject of intense judicial intervention. The amount that was awarded to Karkey by the International Centre for the Settlement of Investment Disputes was $1.2bn, a substantial sum for a country that is on an IMF programme. Having the disputed amount settled through the government’s intervention has surely helped the country.