PM orders legislation for establishment of commercial courts

ISLAMABAD: Prime Minister Shehbaz Sharif has ordered legislation for the establishment of commercial courts in a major step towards improving the resolution of commercial disputes in Pakistan.

The decision was taken in a meeting chaired by the premier.

A high-level committee has been constituted to prepare a draft law for the establishment of commercial courts. Federal Minister for Law and Justice Azam Nazeer Tarar has been appointed as the committee’s convener.

The committee comprises the attorney general of Pakistan, minister of state for finance and a number of legal experts.

According to the directive, the committee will draft legislation governing the establishment and functioning of commercial courts and formulate proposals for the swift resolution of commercial disputes across the country.

The panel will also review the existing framework for handling commercial disputes and submit recommendations aimed at enhancing efficiency and investor confidence.

In addition, the committee has been tasked with preparing a detailed report outlining the legal basis, policy rationale and key provisions of the proposed legislation in Pakistan.

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Members have also been directed to review progress on arbitration law reforms and consider incorporating Pakistan’s obligations under the Singapore Convention on Mediation into the new legal framework.

The Ministry of Law and Justice will provide secretarial support to the committee, which has been instructed to submit its recommendations and final report to the Prime Minister within 45 days.