RPPs case: Turkish firm to go for international arbitration

KARACHI: A Turkish firm has decided to go for international arbitration to resolve the matter of its ship-mounted power plants stopped in Pakistan, Geo News reported Tuesday.

According to reports, the Karkay company has decided to file an application in the International Court of Arbitration since its two ship-mounted power plants were stopped in Pakistan due to an ongoing investigation in the rental power project scam.

Speaking to a Turkish daily, company’s chief commercial officer Noray Atajak said that they were left with no option other than going for international arbitration due to precarious political situation in Pakistan. He said the company had put every effort to resolve the issue amicably but to no avail.

He said that the company would apply for the arbitration within some weeks.