The Cabinet has endorsed the reservations of National Accountability Bureau (NAB) suggesting that Pakistan should not opt for International Court of Justice (ICJ) in case of financial disputes with foreign firms, even if arbitration efforts fail to make headway, official sources told Business Recorder.
"The option of ICJ is expensive, in terms of cost and resources, and Para-3 of the Convention allows any State to opt out of this Article at the time of ratification by declaring itself not bound to Para-2 of Article 66," the NAB suggested, according to sources.
The decision was taken by the Cabinet in its meeting on March 16 at Gwadar. Sources said that the Cabinet approved ratification of ''United Nations Convention Against Corruption, 2003'', which would provide a legal framework to promote and strengthen measures to prevent and combat corruption more efficiently and effectively.
It would also promote international co-operation in the fight against corruption, including recovery of assets accumulated through unfair means from other jurisdictions. Sources said that when comments were sought from NAB on the proposal, it conceded the Convention''s ratification but expressed observations on Para-2 of Article 66, pertaining to dispute resolution mechanism between states and use of Article 44 as the legal basis of extradition.
"Pakistan will also opt out of extradition regime, with the plea that it would only implement Extradition Act, 1972 as provided in Paragraph-6 of Article 44," the NAB said, according to sources. Sources said that there was also confusion among different ministries about which agency-Federal Investigating Agency (FIA) or NAB-should be nominated as the ''central authority'' to deal with corruption issues.
The Cabinet discussed the issue in detail and approved ratification of ''United Nations Convention Against Corruption'', subject to inclusion of NAB recommendations, and its nomination as the ''central authority'' for the purpose of Articles 6 and 46 of the Convention. The United Nations General Assembly through a resolution on October 31, 2003, had adopted the Convention against Corruption'', and Pakistan had signed it, but the Cabinet had not approved its ratification.
Article 6 of the Convention provides that each state party shall, in accordance with the fundamental principles of its legal system, ensure the existence of a body, or bodies, as appropriate, that prevents corruption by such means as (a) implementing the policies referred to in article 5 of the convention and where appropriate overseeing and co-ordinating the implementation of those policies; and (b) increasing and disseminating knowledge about the prevention of corruption.
Similarly, Article 46 (13) requires each State party to designate a ''central authority'' that shall have the responsibility and power to receive requests for mutual legal assistance.
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