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Commercial courts within

a month: Baig

KARACHI: Federal government will set up commercial courts initially in Karachi and Lahore within a month for resolution of commercial disputes between local and foreign parties, Mirza Qamar Baig, Federal Secretary of Commerce said.

The courts will also be set up in other cities of the country and number of courts will be increased later on, he said while addressing members of Managing Committee, Federation of Pakistan Chambers of Commerce and Industry here on Wednesday.

He said the Ministry of Commerce has finalised the details about constitution of commercial courts in the country and final discussions were on in this respect with the Ministry of Law.

He said the Ministry of Commerce was also working on other necessary change in laws on commercial issues and the draft would be sent to FPCCI to have recommendations from the business community to formulate comprehensive commercial laws in the country.

Baig said many commercial complaints were received by the Ministry from foreign buyers about local products but the issues could not be resolved as commercial courts were not operative in the country.

He said a major change in the Insurance Act was in the offing and draft has been sent to FPCCI and the issue would also be settled with mutual consent to make insurance industry active and progressive.

He said government was giving full attention in selection and job related training of trade officers to improve trade ties with foreign countries. He said government has identified areas where the improvement was required and it was committed to improve the situation.

He said the new Chairman of Export Promotion Bureau (EPB) Tariq Ikram was finalising process of reorganisation of EPB but no final decision in this respect will be taken without FPCCI consent. He hoped that in future EPB would play aggressive role to provide facilities to business community to boost exports.

He said government was committed to take necessary action immediately and would not wait for next trade policy. He said present government was ready to take actions.

He asked FPCCI to provide inputs to government so that it could take correct decisions to bring positive change in business environment in the country. He said Ministry of Commerce was playing role of a bridge between the government and the business community and asked FPCCI to provide feedback to the Ministry on regular basis to improve its function.

Fazal-ur-Rehman Dittu President FPCCI asked the government to equip Pakistani trade offices abroad with modern tools of information technology and select best suited trade officers.

He suggested the managing committee of FPCCI be briefed reorganisation of EPB so that government could have benefits of views of business community to make EPB more effective.

He said EPB has stopped providing subsidy to FPCCI trade delegations. He asked the Secretary Commerce to restore the subsidy to trade delegations. He asked him to exert pressure in resolution of the problems pertaining to taxation departments being faced by the exporters.ÑPPI