LAHORE, Oct 22: Impreglio, the lead contractor of Ghazi Barotha project which has moved to International Centre for Settlement of Investment Disputes, has reportedly offered Wapda out-of-court settlement.

Sources in the Wapda on Wednesday claimed that despite the offer, the authority preferred the contractual route to solve the crisis. “It is because of Wapda’s belief in its legal position.”

The contract contains clauses for solving disagreements, which are not rare in the globalized investment atmosphere. The Italian contractors have a history of scaring countries into out-of-court settlement on basis of heavy claims, they said.

But the authority was sure of meeting its contractual obligations and the panel it has designated to fight the case only bespoke of its determination.—Staff Reporter