Governor signs Commercial Court Ordinance 2021

LAHORE:Punjab Planning & Development Board in collaboration with World Bank and International Finance Corporation organised a colloquium on the promulgation of Commercial Court Ordinance 2021 on Monday.

The historical initiative taken by the Punjab government was fully supported by the Lahore High Court. The Lahore High Court notified commercial courts in five districts of Punjab including Lahore. The ordinance will ensure expeditious disposal of claims arising from commercial transactions by introducing timeframe for decision of suits, e-filing of pleadings and limited number of adjournments. This landmark reform was part of the government’s ongoing Ease of Doing Business Reforms being led by the Planning & Development Board.

Opening remarks were given by Abdullah Khan Sumbal, Chairman, Planning & Development Board, in which he stated that Planning & Development Board is committed to improving the business environment of the province through implementation of Ease of Doing Business Reforms Strategy. President, Lahore Chamber of Commerce & Industry, said that private sector was an important player in the overall scheme of things and the government should keep engaging business community more to address their issues. He said dedicated commercial courts shall be instrumental in resolving issues related to contract enforcement which will restore investors’ confidence on legal system and government. The Country Director, World Bank, Najy Benhassine praised the joint efforts of Planning & Development Board and Lahore High Court for implementing the reforms timely.

He committed that the World Bank Group will keep supporting the Punjab government in its endeavours to create an enabling business environment. Mian Muhammad Aslam Iqbal, Minister for Industry, Commerce & Investment, stated that the business community’s concerns were being taken into account and would be addressed by the government.

The government is channelizing all efforts to attract investment in the province to generate more economic activity. The government has brought transparency in government procedures and made administrative procedures more efficient, he said.

During the event, Governor Ch Muhammad Sarwar signed the Commercial Court Ordinance, 2021. In his closing remarks, the governor said these reforms are few of the many which the government is committed to deliver in line with its vision.

The measures taken by the government in collaboration with the Lahore High Court will guarantee and ensure the business community’s investment in Punjab is secured. The event was attended by Imran Sikandar Baloch, Secretary, Planning, Ali Jalal, Programme Director, senior representatives of the government, lawyers, business community and the private sector.