The Law and Justice Commission recommends a constitutional amendment to establish Pakistan’s International Commercial Court, boosting investor confidence.
Islamabad: (RightNow) The Law and Justice Commission has recommended a constitutional amendment to establish the International Commercial Court of Pakistan. The meeting was chaired by the Chief Justice of Pakistan, with the Attorney General and Chief Justices of High Courts in attendance.
The Federal Minister for Law and Justice also attended the meeting by special invitation. The commission has forwarded the recommendation for the International Commercial Court to the federal government. This court will be established for the swift resolution of international commercial disputes.
The proposed court will strengthen the enforcement of arbitration awards and promote uniformity in commercial laws. It will also aid in the predictability of commercial laws.
The establishment of this court will boost investor confidence. It will make Pakistan an attractive destination for global trade and investment.
It is noteworthy that the establishment of the International Commercial Court could be a significant step in enhancing Pakistan’s economic development and strengthening its international trade status.
