SC informed Barrick Gold tried to be as transparent as possible.

ISLAMABAD -- Supreme Court of Pakistan was informed on Wednesday that Barrick Gold has tried to be as transparent as possible and wanted any concession must have statutory backing not to restriction on sovereign power of Parliament and the government. A five-member bench of the apex court headed by Chief Justice of Pakistan Justice Umar Ata Bandial and comprising Justice Ijaz-ul-Ahsan, Justice Muneeb Akhtar, Justice Yahya Afridi and Justice Jamal Khan Mandokhail conducted hearing of the Presidential Reference on the Reko Diq project. During the hearing, counsel Makhdoom Ali Khan said that Barrick Gold has tried to be as transparent as possible and wanted any concession must have statutory backing not to restriction on sovereign power of Parliament and the government. If the government decides to withdraw any exemption and concession then must be done publically and openly. The Chief Justice asked from the counsel that you wanted that the assurance given to the Barrick Gold must have the legal binding. If the concession is withdrawn it should be with the permission of the Barrick Gold. Your client reserves the right to approach the international arbitrations if the concession is withdrawn. Makhdoom said that the Supreme Court in number of judgments declared that the past and closed transaction cannot be reopened. The Chief Justice said that our legal jurisdiction is different from the international therefore the government of Pakistan should retain the good legal advice who perform responsibilities before the international legal forums. The government needs expertise of English law. He said that the proceeding before international forums is expensive therefore there is need to strengthen our system so that the foreigner trust our system. He asked from the Additional Attorney General to improve the legal system. He said that he hopes the qualitative improvement aimed at will succeed. He further said that in view of the economic meltdown Sri Lanka employed lawyers from Canada and London. Justice Muneeb noted that the affect on the company will also affect Pakistan which has 50% shares in the project. He added that if in future...