President Pak-China Joint Chamber of Commerce and Industry, S.M. Naveed met with Chief Justice Lahore High Court, Syed Mansoor Ali Shah for further elaborating the concept of Alternate Dispute Resolution (ADR) that was earlier shared by Chief Justice Lahore High court, Syed Mansoor Ali Shah during a meeting. Amongst the delegation was also honorable Justice Jawad Hasan of Lahore High Court who attended the meeting and gave valuable suggestions.
The idea of ADR was primarily expressed by Chief Justice Lahore High Court for ensuring speedy and judicious redressal of disputes arising from investments under CPEC and other Chinese Projects. S.M. Naveed highly supported the concept shared by Chief Justice Lahore High Court and ensured full participation of PCJCCI to evolve a meaningful framework for the dispute resolutions related to CPEC and other Chinese Private Investment projects.
During the meeting, Syed Mansoor Ali Shah apprised the attendees regarding the existing ADR projects that had been resolved by him at the provincial level. He said that due to the rapid influx of Chinese investments, the number of disputes will also increase that will create the demand for an effective regulatory system rightly termed as "Alternative Dispute Resolution" focused to facilitate smooth flow of investment in Small and Medium Enterprises (SMEs).
Adding to this, Naveed informed that Pakistan is having an influx of 62 billion dollars Chinese investment in bigger projects related to CPEC whereas, 100 billion dollar investment is expected in private sector more specified as SMEs.
The meeting underlined the possibility of developing within the provincial judiciary of Punjab, a fast-track, a mechanism for redressing disputes/legal issues relating to Chinese Nationals. Further, the establishment of a research centre was also envisioned with the collaboration of a Law school.
Comments
Comments are closed.