CJ wants correct interpretation of law

Justice Bandial notes courts give short decisions if there is uncertainty

ISLAMABAD:

Chief Justice of Pakistan Umar Ata Bandial on Saturday noted that repeated interpretation of law gives rise to conflicts, saying that judges used their authority in a very cautious manner.

The top judge noted that the Supreme Court was only concerned about enforcement of law.

He stressed the need for legal experts to eliminate the disputes through correct interpretation of law, adding that if there was uncertainty, short decisions were made.

Speaking at the closing session of a two-day symposium organised by the Securities and Exchange Commission of Pakistan (SECP) on the subject of ‘Corporate Supervision and Regulatory Actions’ at a local hotel in the federal capital, the top judge observed that this event was an opportunity for the development of business in the country.

He added that he was not an expert in the field of artificial intelligence but increasing commercial activities would strengthen the economy.

Justice Bandial remarked that various industries were asking for subsidy on electricity and gas.

He continued that business required a regulatory system and Article 25 of the Constitution was there for the distribution of resources. “The government gives subsidy and the Supreme Court can only see if this subsidy is non-discriminatory or not.”

The CJP stressed the need to bring transparency in the business regulatory framework.

He added that there was a need to improve the government’s communication for business development.

The top judge noted that the continuity of improvement was necessary for the business community to come and make decisions.

“Don’t surprise a businessman if you want commercial activities to grow in the country. The tax regime must be reliable and consistent in particular because you cannot cut the tree if you are looking for the fruit,” he continued.

The CJP stressed the importance of ensuring a level-playing field for investors.
He pointed out that industries with monopolies prevented major investors from competing.

Justice Bandial emphasised the need for shareholder protection.

He mentioned experiences of disposing of petitions faced by majority shareholders.

The CJP stressed the need for placing safeguards for minority shareholders.
He called for curbing dishonesty by management and majority shareholders.
The top judge highlighted the significance of revenue authorities as another beneficiary.

He stressed the need for instilling integrity in the system.

He conceded that within the corporate system, the SECP had a regulatory role.
However, he added that outside the corporate system, there was a responsibility to influence policy and raise awareness to government entities and departments about potential disruptions to the business environment.

The top judge also pointed out the importance of regulatory and constitutional bodies.

“I mean the Election Commission of Pakistan [ECP] is a constitutional body. We have to, as courts of law, support the ECP,” he continued.

The top judge also pointed out the underutilisation of services by another constitutional body that held jurisdiction across the country.

He emphasised the need for strengthening the auditor general of Pakistan to enable independent account checks for proper accountability.