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Press Release: Tracking Government’s Economic Target


5/17/2017

Spokesperson

Prime Minister’s Office
Board of Investment
(Media Section)
******

PRESS RELEASE

Islamabad 17th May, 2017. Mr. Azher Ali Choudhary, Secretary, BOI, Islamabad chaired a meeting regarding Tracking Government’s Economic Target. Ms. Aysha Bilal, Chief Operating Officer of Policy Research Institute of Market Economy (PRIME) delivered a detailed presentation on Taxation Reforms, Domestic Competitiveness, Trade Policy – ITA and National Finance Commission Awards. All the seniors officers were present in the meeting. 

Ms. Ayesha Bilal said that the positive outcome i.e Alternate Dispute Resolution Act 2017, has been passed by the National Assembly and ADRC formed by FBR recently to resolve the dispute instantly with low cost & time. Through Ease of doing business, alongwith legislation / formulation by reducing number of taxes, the domestic investors needs to be facilitated as they contribute more than 95% of the total investment. 

Additional Secretary Mr. Shah Jahan Shah emphasized the need to form a working group comprising of local investors and members from the legal fraternity, media and the business community for improvement of economic development of Pakistan. However, chambers are already on board.

She suggested some recommendations which are as under;

Code of Civil Procedures 1908 should be revised and all loopholes used for delaying tactics should be curtailed.

During trial, like in High Courts, parties should submit all pleadings in office and the case should be presented before judge at the time of evidence and trial.

No adjournments should be allowed until prior information by the lawyer.

Case Management System should be introduced

For rapid trial, the courts should be allowed to record evidence using electronic systems. For this, there is a need to amend the law of evidence.

A complete schedule of trial should be issued to both parties and they should be bound to follow that strictly. Further, any change in the schedule should only be allowed with consent of attorneys of both parties. 

Mr. Shehryar Ahmed, Research Association has also given presentation on the subject of Prime contract enforcement. 

Secretary, BOI thanked Miss Aysha Bilal CEO, PRIME for giving a detailed presentation on “Making Pakistan a Trusted Business Partner”. The Secretary, BOI appreciated her efforts for economic growth in Pakistan. 

(Shah Jahan Shah)
Additional Secretary/Spokesmen
****

Source: BOI's Official Press Release