Discuss this law with AI

Legal status
In force
Effective date
2023-08-11
Sections
63

WHEREAS, it is essential, for the promotion of trade in Pakistan, protection of all trading interests and improvement of Pakistan's standing internationally, that there shall be established an effective dispute resolution regime for the swift, efficient and effective resolution of international trade disputes through negotiations, determinations, alternative dispute resolution mechanisms and referral of disputes to commercial benches; WHEREAS, it is necessary that such dispute resolution regime should be comprehensive and flexible encompassing a full range of dispute resolution method, cooperation and assistance from the relevant government bodies as well as consistent with internationally accepted standards; and that such a regime should be equipped with in exclusive supervisory and enforcement jurisdiction and a streamlined procedure to carry out the purposes of this Act; AND WHEREAS, it is necessary to constitute a trade dispute resolution commission to perform and execute the functions outlined in this Act with the possibility of performing the same functions with regard to domestic trade disputes in the future, as may prescribed at a later time. It is hereby enacted as follows:

Legal information only. Verify current law and obtain advice from a qualified lawyer for your circumstances.