The International Finance Corporation (IFC) is launching a pilot ''Alternative Dispute Resolution (ARD) mediation project in Pakistan, official sources told Business Recorder here on Sunday.
They said that Ministry of Law and Justice and International Finance Corporation would sign here a memorandum of understanding (MOU) on Tuesday for enhancement of legislative framework for ADR.
They said that the aim of the pilot project was to help mitigate expensive and lengthy court procedures and help extricate small and medium enterprises from business hindering litigations by offering them out-of-court mediation of their commercial disputes.
They said that this was an initiative of IFC technical assistance facility known as the private Enterprise Partnership Middle East and North Africa (PIP MENA).
Sources said that alternative dispute resolution mediation would great help attract foreign investment in the country.