Ministry of Water and Power said on Thursday that Government is examining the award to Karkey by ICSID from all aspects including availing all legal remedies under the international arbitration laws. A spokesperson for Power Division (Energy Ministry) said that a news item has said that the proceedings were conducted from March 2013 to March 2016 and the award was announced on 22nd August 2017 as intimated by ICSID on its web site.
Power sector analysts'' question why the government kept the decision secret as it should have been made public. The spokesperson, however, clarified the position of the Ministry saying that the impression of keeping the award secret for long is baseless. He further stated that the amount of the award mentioned in a section of the media was also incorrect. Since no official from the Ministry of Water and Power or Attorney General of Pakistan was available to verify the amount of damages, media reported the amount of damages from $700 million to $1.6 billion.
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