Federal Minister for Law and Parliamentary Affairs Wasi Zafar has said that setting up of Federal Commercial Court in the country has become need of the hour in the changing international scenario. He was addressing a reception hosted by All Pakistan Tax Bar Association (APTBA) for the officials of Income Tax Appellate Tribunal Lahore and tax practitioners, who gathered here at a local hotel to propose amendments in 23-year-old Income Tax Appellate Tribunal laws.
The minister said, "now when the whole world is squeezing rapidly, we need to change our laws and bring them in harmony with the international laws. With the implementation of WTO regime the need of such changes will further grow, therefore, we should be prepared for it in advance."
He said that there is also international pressure on the government to bring such laws, including arbitration, income tax and sales tax and banking laws in conformity with the international laws.
He, however, ruled out the impression that with the establishment of proposed commercial courts the supremacy of the judiciary will he affected. The supremacy of judiciary will remain intact, as appeals against its decision will directly be filed in the Supreme Court, he assured the participants. All such laws will be implemented by the year 2006.
He said that a rough sketch for setting up these courts and eight draft of laws to deal with the commercial matters have been prepared that after giving final shape will be placed before the Cabinet and afterwards before the parliament for approval.
However, before putting the same before the parliament the process of consultation with the lawyers, general public and all stakeholders will be completed.
The proposed federal commercial courts will deal with sales tax, income tax, banking matters, intellectual property laws and other matters of commercial nature, the minister informed the participants.
He pointed out that in other countries there is a separate judge at higher level to deal with matters pertaining to intellectual property rights.
The minister maintained that there was a time when there was no separate courts for Customs, banks and drugs in Pakistan but with the passage of time need was felt for their establishment, but it enhanced burden on high courts due to rise in number of appeals.
About set-up and structure of the proposed commercial courts, the minister said it would have its principal seat in federal capital with benches in all the provincial headquarters.
The judges will be taken from technocrats of grade 21-22, chartered accounts and lawyers having 15 years practice in law, but pointed out that all such appointments will be made on the recommendations of the high courts.
The prime minister is also very much interested in brining improvement in laws to bring them at par the international standards and thereby providing relief to public, Wasi said.
"If we want to go along the whole world, we will have to meet the international requirements; we will have to think in supreme national interest leaving aside personal liking and disliking and prejudices," the minister remarked.
Later, answering reporters' questions, federal law minister said that the parliament had approved the bill to allow President Musharraf to hold two offices simultaneously and now it is up to him whether he retains the uniform or not. His reply was also in the positive when asked as if he was in favour of uniform. "Even I suggest that our politicians and army should sit together and form a political structure so as to avoid such a situation in future," he said.
Speaking on the occasion, Chairman Income Tax Appellate Tribunal Lahore, Kh Farooq Saeed said that notification for the amendments in laws of the Tribunal would be notified in a few days.
Talking about the need for changing these laws he aid that they were enforced on 23rd August 1981 and now after the introduction of Income Tax Ordinance 2oo1 amendment was become inevitable. He said it has been decided that these laws will be amended after every two years in light of the changing requirements.
Earlier, in his address of welcome APTBA President Naeem Shah said that with the amendment of 23 years old IT Appellate Tribunal laws, the working and efficiency of the tribunal would improve.
He also proposed for merger of sales tax and income tax appellate tribunals and said this arrangement would further enhance their efficiency. He also called for giving preference to tax bars while making appointments in the proposed commercial courts.
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