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| July 15, 2006 | Saturday | Jumadi-ul-Sani 18, 1427 |
Reconciliation courts
ISLAMABAD, July 14: The establishment of reconciliation courts would not only streamline business disputes in the country but also safeguard foreign investment. This was stated by the Islamabad Chamber of Commerce and Industry (ICCI) President Abdul Rauf in a statement issued here on Friday.
He further said that Pakistan has already signed international Convention on investment in Geneva and according to its charter the country’s paradigms were shifted to protect foreign investment.
Mr Rauf said that business transaction disputes were stretched to a considerable time period and these disputes were so complicated that judges and lawyers were unable to resolve them.
With the establishment of reconciliation courts only those judges will be deployed who were able to resolve trade related disputes.
He further stressed that there was need to devise a system to resolve one case in maximum six months.
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