Abstract
Protection of alien’s property has been the key issue among the sovereign trading nations of the world. The contesting considerations of capital exporting nations and least developing capital importing nations have played pivotal role for the development of international investment law. The failure to build multilateral consensus for the protection mechanism led to the emergence of bilateral investment treaties (BITs). Least developing countries (LDCs) owe obligations under the influence of incumbent external and internal factors. Last three decades have shown prolific increase of the instrument, which has established an insulated guarantee for the protection of foreign investment in host states. Bilateral investment treaties have promulgated substantive and procedural guarantees to protect the assets of foreign investors. This paper has analyzed that BITs acquired by successive government in Pakistan, which have created pro-investor obligations. Substantive and procedural framework of BITs in Pakistan has created vulnerability to regulate the national interests of the state. A skillfully negotiated and democratically devised policy for adoption of future BITs shall have tendency to engender a balanced approach for the foreign investors and the state.
Keyword(s)
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