Islamabad: Prime Minister Shehbaz Sharif has ordered the drafting of a new law to establish commercial courts across Pakistan. The move aims to speed up business dispute resolution and strengthen investor confidence.
According to Beyond Time News, the prime minister issued the directive during a high-level meeting focused on legal reforms and economic development. Officials believe the initiative will improve the business climate and support long-term economic growth.
Government Forms Special Committee
To move the project forward, the government has formed a high-level committee. Federal Minister for Law and Justice Azam Nazeer Tarar will lead the panel.
The committee includes the Attorney General for Pakistan, the Minister of State for Finance, and several legal experts. Together, they will prepare a comprehensive legal framework for commercial courts.
Additionally, the committee will define how the courts will operate and handle commercial cases.
Faster Dispute Resolution a Key Goal
The government wants commercial courts to resolve business disputes more quickly. At present, many commercial cases remain pending for years. As a result, businesses often face uncertainty and financial losses.
The proposed courts will focus on trade, investment, corporate, and contractual disputes. Therefore, companies may receive quicker decisions and more predictable outcomes.
Experts have long argued that efficient dispute resolution attracts investment. Consequently, the government expects the initiative to improve Pakistan’s business environment.
Review of Existing Laws
The committee will also examine the current legal system for commercial disputes. It will identify weaknesses and recommend practical reforms.
Furthermore, members will study procedures that cause delays in court proceedings. They will suggest ways to reduce case backlogs and improve judicial efficiency.
Officials hope these reforms will modernize Pakistan’s legal framework and align it with international standards.
Focus on Investor Confidence
Investor confidence remains a major priority for the government. Businesses often evaluate a country’s legal system before making investment decisions.
A reliable dispute resolution process helps companies protect their interests. Moreover, it encourages both local and foreign investors to expand their operations.
The government believes commercial courts can create a more transparent and business-friendly environment. As a result, Pakistan could attract greater investment in the coming years.
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Arbitration Reforms Under Review
Meanwhile, the committee will review ongoing arbitration law reforms. It will assess current progress and recommend further improvements.
In addition, members will examine Pakistan’s commitments under the Singapore Convention on Mediation. They will explore ways to integrate those obligations into the new legal framework.
Many countries use mediation to settle disputes quickly and at lower costs. Therefore, policymakers view it as an important tool for modern commercial dispute resolution.
Report Expected Within 45 Days
The Ministry of Law and Justice will support the committee throughout the process.
The prime minister has directed members to submit their recommendations within 45 days. The final report will explain the legal basis, policy objectives, and key features of the proposed legislation.
After reviewing the report, the government will decide the next steps for implementation.
A Major Step Toward Legal Reform
The proposed commercial courts represent an important step in Pakistan’s legal reform agenda.
By creating specialized courts, the government hopes to reduce delays and improve efficiency. Furthermore, the initiative could strengthen investor confidence and support economic growth.
If implemented successfully, commercial courts may help Pakistan build a stronger and more competitive business environment.
FAQs
What are commercial courts?
Commercial courts are specialized courts that handle business and commercial disputes, including trade, investment, and contract-related cases.
Why does Pakistan want commercial courts?
The government wants to speed up dispute resolution, improve judicial efficiency, and strengthen investor confidence.
Who will draft the new legislation?
A committee led by Law Minister Azam Nazeer Tarar will prepare the proposed law.
What role will the committee play?
The committee will draft legislation, review existing laws, and recommend reforms for commercial dispute resolution.
When will the committee submit its report?
The committee must present its recommendations and final report within 45 days.
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