Pakistan is planning to set up special commercial courts to help resolve business disputes within a single year instead of allowing them to be dragged on for several. The step has been taken to allow alternative dispute resolution in Pakistan and improve its ranking in the World Bank Group’s Doing Business 2020 study, Board of Investment Secretary Omer Rasul said.
Setting up special courts to solve commercial cases will improve our overall economy, he said. “We need to take steps to ensure the safety of small businesses,” he added. Cases which used to take 1,000 days will now be wrapped up in a year, Rasul added.
Zubair Gilani, the chairperson of the board, said that people obtain stay orders on the smallest of things because of which cases are dragged on for more than 40 years or so. “We need to improve the system,” he said.
Pakistan climbed 28 places in the World Bank Group’s Doing Business 2020 study to reach the 108th spot in the global ranking. Last year, Pakistan stood at 136th on the list, which ranks 190 economies. “The rise is significant and was made possible by the collective and coordinated actions of the federal government and provincial governments of Sindh and Punjab over the past year,” said Illango Patchamuthu, the Bank’s country director for Pakistan.
According to the report, Pakistan is also on the list of top 10 countries that improved the most in three or more areas measured since the 2018-19 ranking.
It got a 5.6 change in Doing Business score, with reforms that lead to improvements in starting a business, dealing with construction permits, getting electricity, registering property, paying taxes and trading across borders.