situation report

Jul 16, 2019 | 16:37 GMT

1 min read

Pakistan: World Bank Dispute Settlement Body Orders Islamabad to Pay $5.9 Billion to Mining Company

What Happened: A World Bank dispute settlement body has ruled that Pakistan must pay $5.9 billion to the Tethyan Copper Company as the result of a seven-year arbitration over mining rights in Pakistan's Balochistan province, Dawn reported July 15.

Why It Matters: The timing of the ruling comes at a difficult time for Pakistan as the country is already facing financial problems amid its attempts to rectify its burgeoning public debt after receiving a $6 billion loan from the International Monetary Fund.

Background: Balochistan is Pakistan's largest province by land area and holds vast untapped mineral resources. However, the region also remains prone to militant attacks that continue to destabilize the area.

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