ISLAMABAD: The National Assembly Standing Committee on Commerce on Tuesday cleared the wording of Trade Marks Ordinance (Amendments) Bill, 2022 with slight amendments after a brief discussion and briefing by top brass of Intellectual Property Organisation (IPO).
Presided over by Khursheed Ahmed Junejo, the committee members sought reasons for the prolonged delay in submission of amendments to the Ordinance of 2001 and lack of awareness amongst the public about property rights and enforcement mechanism. He raised his concern on late registration of Basmati rice as Trade Mark due to which India took advantage and is still selling Basmati rice as its produce.
Chairman IPO said the purpose of amendments to the Ordinance is to become part of international community, adding that awareness and enforcement are societal and political issue as foreigners’ fear abuse of IPR in Pakistan.
Commerce Secretary Sualeh Ahmad Faruqi, who recently attended TIFA talks with the US in Washington, informed the Committee that absence of IPR is main reason for negligible investment in the country, adding that the key concern from US side was non-implementation on IPR.
According to Commerce Ministry, to comply with the Madrid Protocol, enabling provisions were incorporated in the Trademarks Ordinance, 2001 (TMO, 2001). In addition to enabling provisions of Madrid Protocol, certain amendments to TMO, 2001 were also required to implement best practices of trademarks registration, including enabling electronic services and robust legal safeguards like IP Tribunals to provide quick and efficient court decisions of IPRs litigation.
The Standing Committee constituted a Sub-Committee, comprising Rana Iradat Sharif Khan (convener) Syed Javed Ali Shah Jilani (member) and Ms. Tahira Aurnagzeb (member) to resolve outstanding receivables/payables issue between Trading Corporation of Pakistan (TCP), Utility Stores Corporation (USC), National Fertilizer Marketing Limited (NFML), Passco and other Organisations. The Sub-Committee will invite representatives of concerned Ministries to resolve the “circular debt” of Rs 211.75 billion of which 72.7 billion was mark-up whereas Rs 139 billion was principal amount.
Chairman TCP informed the Committee that an amount of Rs 173 billion was outstanding against USC and NFML, which is 70 percent of total arrears against different Departments/Organisation including Pak Army and Pakistan Navy.
He said, banks are now charging 20 per cent interest on loans due to which outstanding amount is piling up.
He further contended that TCP billed Rs 518.125 billion to USC, NFML and Passco of which Rs 379 billion were received while Rs 139 billion were outstanding.
During the meeting, it was noted that USC has now decided not to release any product to defaulting Organisations/Departments until they make payment in advance.
A representative of USC apprised the Standing Committee that there was no interest till 2020 as his Organisation has already reconciled figures of outstanding amount, adding that now TCP is claiming interest of previous years.
However, representative of Passco clarified that his Organisation has reconciled the amount with TCP, according to which no outstanding amount is due from it.
Copyright Business Recorder, 2023