Latest news with #SupplementalAward
Express Tribune
3 hours ago
- Business
- Express Tribune
PM hails arbitration court's supplemental award over IWT
Prime Minister Shehbaz Sharif chairs a review meeting on Hajj arrangements for the upcoming year in Islamabad on Saturday, June 21, 2025. Photo courtesy: Radio Pakistan Prime Minister Shehbaz Sharif on Saturday welcomed Permanent Court of Arbitration's Supplemental Award regarding Indus Waters Treaty (IWT). The prime minister said that the judicial ruling strengthened Pakistan's stance, asserting that India has no authority to suspend the agreement unilaterally. "We are working upon water resources as the water is the lifeline for the people of the country, PM Office Media Wing, in a press release, quoted the prime minister as saying. Bloomberg report Prime Minister Shehbaz Sharif expressed satisfaction over Bloomberg report on stability in Pakistani economy. He said, "The report acknowledges important institutional reforms in various sectors, successful agreement with the International Monetary Fund and timely loan repayments, which are definitely evidence of improvement in the government's economic situation." "Pakistan is among the few countries that, according to Bloomberg report, showed the most improvement in the economy in the last 12 months," he said adding, "Pakistan is moving fast towards its strong economic future." Rain situation Prime Minister Shahbaz Sharif telephoned National Disaster Management Authority (NDMA) Chairman Lieutenant General Inam Haider Malik and discussed with him aspects related to disaster management. The chairman NDMA briefed the prime minister on the recent rainfall situation in the country.
Business Recorder
5 hours ago
- Business
- Business Recorder
IWT: PM hails arbitration court's ruling
ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday hailed a ruling by the Permanent Court of Arbitration (PCA) concerning the Indus Waters Treaty (IWT), describing it as a 'major endorsement' of Pakistan's longstanding stance on the dispute with neighbouring India. In a statement issued by the Prime Minister's Office, Sharif said the PCA's Supplemental Award confirmed that India does not have the authority to unilaterally suspend or hold in abeyance the treaty, which governs the distribution of water between the two countries. 'We are working upon water resources as the water is the lifeline for the people of the country,' he said. Sharif also commended his legal team for what he described as their 'significant legal contributions' in presenting Pakistan's case before the international tribunal. The Supplemental Award, made public on the PCA's website on Friday, was issued as part of proceedings initiated by Pakistan against India under the terms of the 1960 IWT. The ruling states that India's unilateral decision to suspend the treaty's dispute resolution mechanism did not strip the court of its jurisdiction to hear Pakistan's complaints. In its findings, the PCA concluded: 'The text of the Treaty, read in light of its object and purpose, does not allow either party, acting unilaterally, to hold in abeyance or suspend an ongoing dispute settlement process.' The ruling further clarified that the treaty remains in force unless terminated by mutual agreement between India and Pakistan, stating: 'Such text definitively indicates an intent by the drafters not to allow for unilateral action to alter the rights, obligations, and procedures established by the Treaty.' Pakistan has welcomed the decision, saying it affirms the authority of the court and of the neutral expert to adjudicate matters arising under the treaty, despite India's attempts to halt the proceedings. The 1960 Indus Waters Treaty, brokered by the World Bank, has long been seen as a rare example of sustained cooperation between India and Pakistan, despite decades of political and military tensions. Copyright Business Recorder, 2025
Express Tribune
15 hours ago
- Politics
- Express Tribune
PM Shehbaz hails arbitration court ruling over IWT
Prime Minister Shehbaz Sharif chairs a review meeting on Hajj arrangements for the upcoming year in Islamabad on Saturday, June 21, 2025. Photo courtesy: Radio Pakistan Prime Minister Shehbaz Sharif on Saturday welcomed the Permanent Court of Arbitration's Supplemental Award concerning the Indus Waters Treaty, calling the decision a major endorsement of Pakistan's position. In a statement released by the PM Office Media Wing, PM said the ruling confirmed that India could not unilaterally suspend the agreement, which governs water sharing between the two countries. 'We are working upon water resources as the water is the lifeline for the people of the country,' the prime minister was quoted as saying. He also praised Law Minister Azam Nazeer Tarar and Attorney General Mansoor Awan for their legal contributions to the case. Yesterday, the Court of Arbitration constituted in accordance with the Indus Waters Treaty (IWT) of 1960, ruled that India's decision of holding the treaty in abeyance did not deprive it of its competence to adjudicate Pakistan's complaints against its neighbour. Read: Pak IWT stance vindicated by arbitration court The court issued the "Supplemental Award" on the proceedings instituted by Pakistan against India. "Accordingly, the text of the Treaty, read in light of its object and purpose, does not to allow either party, acting unilaterally, to hold in abeyance or suspend an ongoing dispute settlement process," the order read. The Supplemental Award said that "the text ... does not provide for the unilateral "abeyance" or "suspension" of the Treaty. Rather, the Treaty provides for its continuation in force until terminated by mutual consent by India and Pakistan". "Such text definitively indicates an intent by the drafters not to allow for unilateral action to alter the rights, obligations, and procedures established by the Treaty, including the treaty's dispute settlement procedures. The award, made public on the website of the Permanent Court of Arbitration, was welcomed by Pakistan, saying that it affirmed the court or the neutral expert's competence despite India's unilateral action.
Business Recorder
a day ago
- Business
- Business Recorder
Pakistan welcomes Indus Waters arbitration ruling, urges dialogue with India
Pakistan on Friday welcomed the Supplemental Award issued by the Court of Arbitration in the Indus Waters matter, affirming the Court's jurisdiction and rejecting India's stance that sought to exclude the Court's competence in favour of a Neutral Expert. In a statement issued by the Foreign Office, Pakistan said the ruling, made public by the Permanent Court of Arbitration (PCA) in The Hague, confirmed that unilateral actions by India could not strip either the Court of Arbitration or the Neutral Expert of jurisdiction in proceedings pertaining to the Indus Waters Treaty. 'The Court has affirmed its competence in the light of recent developments,' the statement noted, adding that Pakistan looks forward to the upcoming ruling on the first phase of the case, relating to the merits of the dispute, following hearings held at the Peace Palace in The Hague in July 2024. India says it will never restore Indus water treaty with Pakistan Calling for renewed engagement with New Delhi, Pakistan emphasized the need to return to 'a meaningful dialogue' on all outstanding issues, including the implementation of the Indus Waters Treaty. Reiterating Islamabad's position, Prime Minister Shehbaz Sharif, in widely circulated remarks made on June 24, 2025, said Pakistan was 'ready to engage in a meaningful dialogue with India on all outstanding issues, including Jammu & Kashmir, water, trade and terrorism.' The Indus Waters Treaty, signed in 1960 and brokered by the World Bank, governs the distribution and use of the Indus River and its tributaries between India and Pakistan. The recent legal proceedings stemmed from disputes over hydroelectric projects constructed by India on rivers allocated to Pakistan under the Treaty.
