LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Malik Tahir Javaid has emphasised that mediation, arbitration and conciliation should be adopted for resolving business disputes as they are effective means for dispute settlements.
Speaking at a seminar on “Alternate Dispute Resolution”, the LCCI chief pointed out that in developed countries, mediation, arbitration and conciliation were preferred and litigation was avoided to the maximum. He emphasised that the conventional way of litigation was not always favourable as it was time consuming and may cause permanent damage to business relations.
“Arbitration and conciliation save time and money of business-doing people through out-of-court settlements of disputes with the help of mediation, therefore, businessmen should avail themselves of this tool to give a boost to their businesses,” he suggested. He called it encouraging that in Pakistan, some serious efforts were being made to create awareness of the alternative dispute resolution mechanism.
Published in The Express Tribune, June 10th, 2018.