Strict adherence to rule of law can attract FDI in Pakistan: CJP

 

ISLAMABAD: Chief Justice of Pakistan (CJP) Saqib Nisar on Monday remarked that Pakistan may attract more Foreign Direct Investment (FDI) if foreign investors in Pakistan are assured quick and just manner upon arousal of trade and commercial disputes.

CJP while addressing faculty members and students at East China University in Shanghai said that to bring investors ease, it is must to ensure adherence of the Rule of Law.

A press release of CJP’s address stated that Nisar was visiting China to strengthen relations between Pakistan and China as bilateral friends by extending assistance through shared experiences in every walk of life and especially the justice sector.

CJP Nisar while referring to the role of judiciary asserted that National Judicial Policy Making Committee (NJPMC) had issued directives to lower and concerned courts not to issue ex parte stay orders in China Pakistan Economic Corridor (CPEC) related disputes.

The apex court judge stressed upon the need to safeguard and protect the confidence of foreign investors in Pakistan so they have comfort and peace of mind. He also said that there was a need of bringing uniformity within the laws, processes and mechanisms like special courts that will only be hearing CPEC related disputes.

Furthermore, Nisar said that China and Pakistan should work collectively to form smart courts and information centres so that both the countries progress hand in hand. CJP praised Pakistan’s executive judiciary that maintains checks and balances by means of judicial review of executive actions.

CJP asserted that Pakistan’s trading partners should know that any disagreements or disputes pertaining to commercial or trade transactions will be dealt fairly and up to the highest standards possible.

Justice Nisar during his address said that Pakistan’s Supreme Court had proven itself as the ultimate custodian of the fundamental rights of its citizens especially by exercising its Suo Moto jurisdiction for matters of public interest.

Nisar assured the East China University of the judiciary’s determination for collaboration with its neighboring countries so that rule of law can be strengthened within the region. He added that a strong foundation needs to be laid for a modern and progressive Pakistan as envisaged by the Constitution of Islamic Republic of Pakistan.

 

 

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