World Bank reconciliation system based on defects: US newspaper report on Ricoh dick case

#World Bank reconciliation system based#World Bank reconciliation system based on defects: US newspaper report on Ricoh dick case#
US journal The New York Times called the World Bank's reconciliation system flawed.



According to a New York Times report, rich countries are benefiting from the World Bank's reconciliation system at the expense of poorer countries.





Referring to the Rakodak case, the US newspaper wrote that in this case, Pakistan was fined US $ 5 billion 90 million, Pakistan was fined in a case that was approved and implemented.





The report cites the decision of the Reconciliation Panel as a violation of the principles of mining, saying that there was no expert in the sector in the reconciliation panel appointed by the World Bank.





Also read


Rakodak case verdict: Pakistan ordered to pay about $ 6 billion in fines


According to the New York Times, the World Bank's panel had given the Australian company tax evasion for 15 years without evidence, the World Bank panel itself decided how much profit the Australian company could make.





The World Bank's response





The World Bank's response to the New York Times report states that cases are decided by independent sovereign tribunals and the members of the tribunal generally favor.





The World Bank has stated that in the case of Pakistan and Australian Company, the parties were selected by the parties, the President of the Tribunal was also decided by the parties. Is.





It should be remembered that the World War I verdict on the International Forum since 2012 was issued by the World Bank in July, which fined Pakistan about $ 6 billion.

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