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| July 23, 2003 | Wednesday | Jumadi-ul-Awwal 22, 1424 |
Govt seeks to resolve dispute with Italian firm
ISLAMABAD, July 22: The government on Tuesday decided to seek resolution of a $450 million dispute with an Italian firm through Dispute Resolution Board (DRB) as envisaged in the contract clauses of the $2.5 billion Ghazi Barotha Power Project, Dawn has learnt.
The decision was taken at a meeting presided over by finance minister Shaukat Aziz and was attended by minister for water and power Aftab Ahmad Khan Sherpao and Wapda Chairman Zulfiqar Ali Khan.
The meeting also decided to contest the position taken by the Italian firm Impregilo, the major contractor of the Ghazi Barotha Hydropower Project, before International Centre for Settlement of Investment Disputes.
The ICSID has already registered the Impregilo’s case for hearing despite Pakistan’s request not to entertain the case.
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