ISLAMABAD: In a major decision taken during a meeting of the Law and Justice Commission of Pakistan chaired by Chief Justice of Pakistan Yahya Afridi, the Commission has recommended the establishment of an International Commercial Court of Pakistan through an amendment to the Constitution.
The 49th meeting of the Law and Justice Commission was held under the chairmanship of the Chief Justice of Pakistan and was attended by the Attorney General for Pakistan, Chief Justices of the High Courts, the Secretary of the Ministry of Law and Justice, and members of the Commission. The Federal Minister for Law and Justice attended the meeting on special invitation.
Proposal for a New Article 212A
During the meeting, the Commission approved a recommendation to introduce a new Article 212A in the Constitution, providing for the establishment of the International Commercial Court of Pakistan as an independent federal high court. The proposed court is intended to ensure the prompt and effective resolution of international commercial disputes and to strengthen the enforcement of arbitration awards.
According to the Commission, the proposed court would promote uniformity and predictability in the interpretation and application of commercial laws, enhance investor confidence, and help position Pakistan as an attractive destination for international trade and investment. The Commission has decided to forward the recommendation for the constitutional amendment to the federal government for the necessary legislation.
Officials noted that the initiative is aimed at aligning Pakistan’s commercial justice system with global best practices and creating a conducive legal environment to support sustainable economic growth and foreign direct investment.
Amendment to Banking Companies Ordinance Approved
In addition to the proposal for the International Commercial Court, the Law and Justice Commission also approved an amendment to Section 3A(1A) of the Banking Companies Ordinance, 1962. Under the proposed amendment, the jurisdiction of the Banking Ombudsman would be extended to cover customers of microfinance banks and institutions.
The Commission stated that this reform would provide millions of microfinance customers with an effective, cost-efficient, and accessible grievance redressal mechanism, thereby promoting consumer protection and financial inclusion and further strengthening public confidence in the financial sector. This proposed amendment has also been sent to the federal government for legislative action.
Commitment to Justice Sector Reforms
Concluding the meeting, the Law and Justice Commission reiterated its commitment to advancing Pakistan’s economic development through a modern, effective, and accountable justice system. The Commission reaffirmed its resolve to continue pursuing reform measures aimed at strengthening business confidence and enhancing consumer protection across the country.
