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The verdict in Niko’s corruption case has been in favor of Bangladesh. The International Center for Investment Dispute Resolution (IXID), an international investment dispute resolution platform, has announced the verdict.
As a result of this verdict, Bangladesh will receive ১ 1 billion in compensation from Niko. However, Ixid has asked Bangladesh to submit a full report assessing the damage to health, the environment and the environment. All in all, we will have to wait until the middle of next year to determine the amount of damage.
State Minister for Energy, Energy and Mineral Resources Nasrul Hamid said this at an online press conference on Sunday afternoon.
The Minister of State said that the verdict in the case was in favor of Bangladesh after a long 10-year legal process. The message has reached the whole world to reach the verdict that what you want cannot be done by going to Bangladesh. Exid ruled on February 27. However, the verdict was supposed to be announced at a press conference in early March, but it was postponed due to Corona’s situation.
At the press conference, Anisur Rahman, senior secretary of the energy department, said the Canadian oil and gas company Niko got the exploration and development job for the Chhatak gas field in Bangladesh in 2003 during the BNP-Jamaat rule. The BNP government hired the Canadian company, marginalizing a potential field. The Anti-Corruption Commission (ACC) has presented a case alleging a great loss for the state. The case is pending in the country’s courts.
The state minister also said at the press conference that the amount of loss calculated by the international consultancy on March 25, 2017 was presented to EXID in 2016. Ixid’s verdict said the explosion was due to the negligence and incompetence of Niko. As a result, Nike will have to take responsibility. Bangladesh has to pay compensation. A new trial is scheduled for next September to end the damages. Corona will delay it due to the situation.
Lawyer Moin Gani, lawyer for the case, said Bapex was expected to receive ৮ 117 million and Petrobangla ৮ 698 million, plus ১ 1 billion in damages. Apart from this, the court said to evaluate the damage to health and the damage to the environment and the environment and present it to the court. This will further increase the amount of damage.
He added that another hearing was scheduled for next September. But now it will not be possible because of Corona. As a result, we have to wait for the situation to improve. Compensation may take time to fix in the middle of next year. International consulting firms are working for this.
“We had to pay them,” he said. Now I don’t have to pay. Again, this has sent a beautiful message to everyone. This must also be considered.
Incidentally, the first explosion occurred on February 28, 2005 while digging a gas well. When I tried again, another explosion occurred. This burns a large amount of gas in the mine. Local biodiversity is extinct. The gas is still erupting in the vicinity of this rooftop gas field.
According to the Ministry of Energy, Energy and Mineral Resources, as a result of the verdict, Bangladesh will not have to pay the fees demanded by Niko. In addition, Bangladesh may also take Niko’s property in Block 9 or Bangura in Comilla.
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