Massive difference between Pakistan, int’l justice system: CJP

Pakistan Nov, 24 2022
Massive difference between Pakistan, int’l justice system: CJP
  • 146
  • 0

ISLAMABAD: Chief Justice of Pakistan (CJP) Umar Ata Bandial has remarked there is remarkable difference between Pakistan judicial system and international justice system.  He remarked, “Improvement in justice system of Pakistan is a big challenge for us. Foreign investors should trust on Pakistan justice system. Several steps have been taken for improvement in justice system of Pakistan.” Its results will become visible after some time.

Pakistan government should take steps by taking into account international laws on Riko Deq matter otherwise company  will go to international arbitration forum again. When disputes reach international forums then massive resources are spent on solving them. Why are disputes connected with investment brought into court. Tell us procedure for resolving all disputes linked to investment out of court. Major problem in Pakistan is lack of documents regarding business. International debt has soared without production of necessary resources in country.

FATF has also stressed on transparent investment and transactions in Pakistan. He observed if no limit is set for foreign investment then a new Pandora Box will be opened due to proposed legislation.  A five member bench of SC presided over by CJP Umar Ata Bandial took up Riko deq presidential reference for hearing.   Makhdoom AlI Khan counsel for Barrick Gold Company told court as soon as goods reach port from Riko Dek project, 50 percent payment will be made. Remaining 15 percent payment of Riko Dek project goods will be made on destination as per market rate and quality. If rare mineral is explored out of Riko Deq project then government will purchase it at market rate.  Arguing on second question of presidential reference, additional advocate general Amir Rehman told second question in reference relates to being foreign investment bill in clash with basic rights. Legislation for Riko Deq project is aimed at ensuring wooing of heavy investment from other countries in Pakistan. Hearing of case was adjourned till November 24. 

Published in The Daily National Courier, November, 24 2022

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.

NC Desk
NC Desk https://www.dailynationalcourier.com/author/nc-desk
Daily National Courier is a leading morning English newspaper of twelve pages covering all international and national political developments on 24/7 basis.

NC Big Stories

Interference of executive in judicial affairs intolerable: CJP Isa

Islamabad: Chief Justice of Pakistan Qazi Faez Isa said that “Interference by executive in affairs and judicial workings of judges will not be tolerated” following...

Pakistan, UK agree to step up teamwork in diverse areas

ISLAMABAD: United Kingdom (UK) High Commissioner to Pakistan Jane Marriott and President Asif Ali Zardari emphasised further strengthening trade and economic ties between Paki...

IHC judges’ letter: Govt announces to form inquiry commission

Islamabad: Following letter surfaced related to judges of Islamabad High Court (IHC), government has announced to establish an inquiry commission aims to investigate issues ra...

Mohsin, Gandapur vow to work together to combat terrorism

PESHAWAR: Interior Minister Mohsin Naqvi held meeting with Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur to discuss security situation of province. During meeting, it wa...

More like this
Related

Govt looks to put country’s economy back on track: PM Shehbaz

Islamabad: Prime Minister Shehbaz Sharif said that government was looking to put country’s economy back on track. Delegation of All Pakistan Newspapers Society (APNS) ca...

Interference of executive in judicial affairs intolerable: CJP Isa

Islamabad: Chief Justice of Pakistan Qazi Faez Isa said that “Interference by executive in affairs and judicial workings of judges will not be tolerated” following...

Pakistan, UK agree to step up teamwork in diverse areas

ISLAMABAD: United Kingdom (UK) High Commissioner to Pakistan Jane Marriott and President Asif Ali Zardari emphasised further strengthening trade and economic ties between Paki...

IHC judges’ letter: Govt announces to form inquiry commission

Islamabad: Following letter surfaced related to judges of Islamabad High Court (IHC), government has announced to establish an inquiry commission aims to investigate issues ra...
Need Help? Chat with us