Pakistan to set up special commercial courts

[ahlam1399]

ISLAMABAD: Secretary Board of Investment (BoI) Omer Rasul Friday said Pakistan was going to establish specialised commercial courts, making Alternative Dispute Resolution (ADRs) operational and placing case management system in order to improve its ranking in the EODB for next year 2021.He said this while addressing a press briefing at the PID here.Adviser to the PM on Information and Broadcasting Firdous Ashiq Awan, Adviser to the PM on Commerce Abdul Razak Dawood, BoI Chairman Zubair Gilani and other team members of the board were also present on the occasion.When asked about two indicators including uninterrupted provision of power supply and registration of land that were undertaken during the PML-N-led regime, which had now been endorsed by the WB in EODB report for 2020, the BoI chairman said they accepted the role of different regimes in the past but incumbent Prime Minister Imran Khan pursued the reform agenda from the top so he deserved more praise on this front.So this credit goes to PM Imran Khan, he added.On judicial reforms, he conceded that the PTI-led regime could not move ahead on this front despite the fact that dispensation of justice was on top of the government agenda.He said the government would now move ahead on this front next year till April 2020 in consultation with top judiciary to bring reforms.He also said the country’s ranking had also worsened and reached from 70th position in 2008 to 147th position in 2018.On this occasion, the BoI secretary said Pakistan’s ranking on enforcement of contracts stood at 156th position out of 190 economies, while India stood at 163rd and Sri Lanka at 165th position so it indicated that it became a regional issue for South Asian economies.“Now it’s on the top agenda of the government as we will bring improvements in terms of reducing cost, time and improving quality related to contract enforcements,” he added.The commercial contracts, he said, would be enforced in 365 days instead of 1000 days. For achieving the desired objectives, he mentioned three steps, which Pakistan had to undertake to improve its ranking that included establishment of specialised commercial courts, Alternative Dispute Resolutions (ADRs) mechanism and placing case management system.Razak Dawood said improvement in the ranking showed that the county was moving in the right direction.He said the federal and provinces contributed jointly towards achieving improvement in the ranking.In future, he said Pakistan would have to pursue the reform agenda to get further improvement in ranking.Answering a question, he conceded that the price hike existed as the government had taken tough decisions under the IMF programme and everyone had to pass through painful period.Dr Firdous Ashiq Awan said the court had granted bail to Nawaz Sharif and the government would take decision on allowing him to go abroad after reading the verdict of the court in detail.“I cannot comment without reading the verdict of the court,” she added.The past governments, especially the PML-N-led regime also contributed towards improving the World Bank’s ranking by 28 notches for Pakistan in Ease of Doing Business for 2020 that now stood at 108th position.Pakistan’s ranking improved from 136th to 108th position by upgrading 28 notches on the World Bank’s Ease of Doing Business (EODB) for 2020. The ranking had improved 11 notches in last year EODB report for 2019 when its position improved from 147th to 136th.For further improving the country’s ranking, Pakistan will have to undertake judicial reforms by ensuring improvement on enforcement of contacts.http://feeds.feedburner.com/~r/com/cwEr/~4/z3XMPG82VWA

أكثر... (http://feedproxy.google.com/~r/com/cwEr/~3/z3XMPG82VWA/546465-pakistan-to-set-up-special-commercial-courts)