Islamabad: In a major push to expand the use of mediation, arbitration, and alternative dispute resolution (ADR) in Pakistan, the International Mediation and Arbitration Centre (IMAC) and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) signed a Memorandum of Cooperation (MoC) on Wednesday in Islamabad.
The ceremony, held at FPCCI’s President Secretariat, featured Senator Azam Nazeer Tarar, Federal Minister for Law and Justice, as the Chief Guest. The agreement was signed by Ms. Aisha Rasool, Senior Consultant and Project Director at IMAC, and Mr. Atif Ikram Sheikh, President of FPCCI.
Senator Tarar described the partnership as pivotal in enhancing access to ADR in Pakistan, highlighting the burden of over 2.4 million cases pending in the courts. He pointed out that traditional litigation is costly and time-consuming, whereas ADR provides more efficient and amicable solutions for resolving disputes.
The Minister emphasized the role of economic stability in achieving political and security stability, noting FPCCI’s central role in this effort. He underscored the need to move away from the adversarial legal system, advocating for mediation and arbitration as essential tools for resolving business disputes.
He praised the efforts of Ms. Aisha Rasool and her team in swiftly operationalizing IMAC and organizing training sessions across the nation. The collaboration between IMAC and FPCCI is seen as a step toward promoting ease of doing business through ADR.
FPCCI President Atif Ikram Sheikh expressed support for the initiative, noting that the agreement aligns Pakistan’s commercial practices with international standards. He highlighted the potential of ADR to boost investor confidence, promote economic growth, and reduce judicial pressure.
Ms. Aisha Rasool emphasized the MoC’s role in integrating ADR within institutional and professional sectors. She advocated for public-private collaboration as a means to achieve legal reform and enhance commercial dispute resolution.
Hasnain Ibrahim Kazmi, Convener of the ADR Committee at FPCCI, welcomed the MoC, emphasizing ADR’s value as a faster, cost-effective solution for businesses. He confirmed the committee’s commitment to support its implementation.
The event was attended by officials from the Ministry of Law and Justice and representatives from FPCCI, along with other members of the business community. The MoC is expected to bolster business confidence and improve Pakistan’s standing in the international dispute resolution arena.