15 July: World Youth Skills DayJuly 18, 2019
Kalraj Mishra appointed Himachal Pradesh Governor, Acharya Devvrat sent to GujaratJuly 18, 2019
- A World Bank arbitration court has imposed a penalty of over five billion dollars on Pakistan for unlawful denial of a mining lease to a company for the Reko Diq project in 2011.
- The Tethyan Copper Company had approached the International Centre for Settlement of Investment Disputes in 2012 after the Balochistan government declined its lease request.
- Pakistan’s Supreme Court had terminated the deal in 2013. The mining company said that it had invested over $220 million on Reko Diq.
- The case between the Pakistan government and the international company continued for at least seven years.
- The penalty came as a major blow to the cash-strapped economy of Pakistan that has received billions in financial aid packages from international organisations such as the International Monetary Fund (IMF) and a few friendly countries, including China, Saudi Arabia and the United Arab Emirates (UAE) during the current fiscal year.