World intellectual property day: Protection of IPR laws urged

KARACHI: On the World Intellectual Property Day, celebrated globally on April 23, Overseas Investors Chamber of Commerce and Industry (OICCI) urged the government to show support for its protection. Supported by key stakeholders including the OICCI, the Intellectual Property Organisation of Pakistan Act 2012 (IPOP) was approved on December 6, 2012  but has not been implemented to date. In fact, the government has still not nominated the IPOP chairman, failed to form the IPOP policy board or establish an intellectual property rights tribunals to adjudicate IPR violations, which are essential features of the IPOP, said OICCI President Asad S Jafar. According to the OICCI, IPR violations are widespread, resulting in significant financial and social loss to the government and people. Estimates of sales losses incurred due to IPR infringements by affected companies stand at around Rs700 billion with the national exchequer losing roughly Rs190 billion in taxes annually.

Published in The Express Tribune, April 24^th, 2014.

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