FBR successfully defends $650m claim against Kuwait-based company

Finance Minister Ishaq Dar has lauded FBR for putting up strong and successful defense in the case filed by a Kuwait-based Company.

FBR’s vigorous pursuance of the litigation in fact has led to the withdrawal of the case.

It may be recalled that M/s Agility Pvt. Ltd was engaged in 2005 by FBR for developing software for automated clearance of import and exports cargo at Karachi port.

Subsequently, FBR terminated contract with the company that had filed a claim worth 650 million dollars against the government before International Centre for Settlement of Investment Disputes.

The case was fixed for final hearing at London Tribunal in 3rd week of this month, but the company seeing the strong defense put up by the FBR and its legal team, withdrew the claim unconditionally.

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