Sources told The Express Tribune that one of the conditions was to submit an irrevocable bank guarantee for 25% of the total amount of penalty from a reputable international bank based outside of Pakistan. However, a senior government official said the tribunal placed such conditions in every matter wherein a stay was granted on the enforcement of an award. “The stay order improves Pakistan's negotiating position and defers any adverse economic impact arising from this arbitration,” Barrister Taimur Malik said. The tribunal found that Pakistan had unlawfully denied the TCC a lease to mine copper and gold deposits at the Reko Diq mine, located in Chagai district of Balochistan. When the country's plea was registered, an interim stay was granted automatically on the enforcement proceedings initiated by the TCC.

Source: The Express Tribune September 18, 2020 19:18 UTC