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LCCI hosts seminar on alternate dispute resolution.

LAHORE -- President of the Lahore Chamber of Commerce and Industry Malik Tahir Javaid has said that mediation, arbitration and conciliation should be opted to resolve disputes as these tools are most effective forms of alternate dispute resolution.

He was speaking at a seminar on 'Alternate Dispute Resolution' jointly organised by the Lahore Chamber of Commerce and Industry, Workers Employers Bilateral Council of Pakistan (WEBCOP) and American Solidarity Center here at the Lahore Chamber of Commerce and Industry. Vice chairman WEBCOP Ch Naseem Iqbal, Syed Nazar Hussain, Muhammad Yaqoob, Engineer Sohail Lashari and other experts spoke on the occasion.

The LCCI president said that in developed countries, mediation, arbitration and conciliation are preferred to expedite the mediation and litigation is avoided to the maximum. He said that the conventional way of litigation is not always favorable as it is time consuming, many a times not equitable, and may cause permanent damage to business relations. He said that arbitration and conciliation saves precious time and money of the business doing people therefore the businessmen should avail this tool to give boost to their businesses.

'Pakistani businessmen are facing hurdles in their business and one of the leading factors is the trade disputes arising between them and their counterparts. Commercial disputes that end in courts of law are always costly and usually bitter', the LCCI president said.

Malik Tahir Javaid said it is encouraging to know that in Pakistan, some serious efforts are being made to create awareness about alternate dispute resolution. He informed the participants of the seminar that last year, Lahore High Court signed a memorandum of understanding with Lahore Chamber. One of the focus areas of that MoU was to jointly promote alternate dispute resolution.

The LCCI president said that when trade relations develop, there are possibilities that trade disputes may arise. He said that the fundamental purpose of introducing alternate dispute resolution mechanisms by the LCCI was to help local and foreign companies avoid litigation constraints.

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Publication:The Nation (Karachi, Pakistan)
Date:Jun 10, 2018
Words:367
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