Islamabad: Turkey-based power firm Karkey Karadeniz Elektrik Uretim (KKEU) has decided to move the International Court of Arbitration for release of its two rental power ships stopped at the Karachi Port Trust.
Two Turkish power-generating ships, whose contracts were canceled around two months ago, have been kept in Pakistan following a request from an opposition member of the Pakistani Parliament amid an ongoing legal case into corruption.
Filing its petition with the court, Karadeniz took the stand that the political situation in Pakistan was uncertain and it wanted the return of its power generating ships after the cancellation of rental power agreements.
The ongoing political crisis in Pakistan accelerated when the Pakistani Supreme Court ordered the arrest of the country’s Prime Minister, Raja Pervez Ashraf, on accusations of profiting from short-term rental deals for electricity-generating stations, including the deal that was made with Karkey.
The company said due to the ongoing prevailing uncertain political situation in Pakistan, it had no option but to take the issue to the International Court of Arbitration.
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