Chief Justice of Pakistan Umar Ata Bandial has formed an Arbitration Law Review Committee taking into account the gaps in the existing legal framework on mediation of cases that were domestic in nature, absence of adjudication friendly rules, and time-consuming procedures.
According to an SC statement issued on Thursday, the project is an initiative of the Law and Justice Commission of Pakistan.
The committee is mandated to analyse the existing legislation on the arbitration in Pakistan and recommend suitable measures, including holistic laws aligned with international and regional best practices on the subject.
Justice Syed Mansoor Ali Shah, an SC judge, who is the chairman of the Arbitration Law Review Committee, convened its first meeting on Thursday at the top court.
Other members of the body, senior SC lawyer Muhammad Makhdoom Ali Khan; another top court advocate Feisal Hussain Naqvi; Law and Justice Commission of Pakistan Secretary Riffat Inam Butt; Board of Investment, Islamabad Executive Director General and Additional Secretary Muhammad Khashih-ur-Rehman; and of law and justice ministry’s Senior Legislative Adviser Ambreen Abbasi; also participated in the huddle.
The committee examined the gaps in the prevailing legal framework.
Considering the international best practices and regional experiences, it expressed the need to update and modernise the existing laws with the contemporary international legal framework on arbitration and mediation.
The body resolved to meet the specific timelines to meet its mandate and for that purpose, adopt a holistic approach for drafting a new legislation, which would cater for the domestic and international arbitration requirements.
The new legislation would also be shared with the stakeholders, including the government, private sector, academia and legal fraternity.
The committee emphasised the need for training of judges, legal practitioners, subject experts, members of the chambers of commerce, etc.
The body also considered that a comprehensive awareness strategy on arbitration and mediation should be evolved for the public.
For this purpose, the Judicial Academy would be engaged to devise training programmes as per the global standards in consultation with prominent local and international arbitration experts.
To encourage foreign investment as well as to inspire the confidence of the corporate and commercial sector, the committee also recommended the establishment of an arbitral center with ownership of the State for providing services to the parties for amicable settlements of their disputes.
Thid initiative, the committee observed, would enhance investors’ confidence and generate a conducive environment for economic activity in Pakistan.
Additionally, it would also help the general public to resolve their disputes swiftly, eventually reducing the case load on courts.
The meeting concluded with the resolve to complete the project by the end of the year.
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