LJCP proposes constitutional amendment for international commercial court

ISLAMABAD: The Law and Justice Commission of Pakistan (LJCP) on Monday decided to recommend a constitutional amendment to the federal government to enable the establishment of an International Commercial Court of Pakistan, according to a statement issued by the Supreme Court.

The decision was taken at the 49th meeting of the commission, chaired by Chief Justice of Pakistan Yahya Afridi. The Supreme Court statement said the proposed forum was being considered in view of the importance of a modern commercial justice system for investment, economic growth and international trade.

According to the statement, the court has been proposed as an independent federal superior court through the insertion of a new Article 212-A in the Constitution. The commission said the proposed court is intended to ensure speedy and effective settlement of international commercial disputes, improve enforcement of arbitral awards, promote consistency and predictability in commercial jurisprudence, boost investor confidence, and strengthen Pakistan’s standing as a destination for international trade and investment.

The statement said that, given the constitutional nature of the proposal, the commission resolved to recommend the amendment to the federal government for consideration and for the start of the required legislative process. It added that the recommendation reflected the commission’s aim of bringing Pakistan’s commercial justice framework closer to international best practices and supporting an enabling legal environment for sustainable economic growth and foreign direct investment.

Banking mohtasib jurisdiction proposal

The commission also approved proposed changes to Section 3A (1A) of the Banking Companies Ordinance, 1962, recommending that the jurisdiction of the banking mohtasib be expanded to include customers of microfinance banks and institutions, the statement said.

According to the statement, the proposed change is aimed at giving millions of microfinance customers an effective, affordable and accessible grievance redress mechanism. It said the measure is intended to strengthen consumer protection, encourage financial inclusion and reinforce public confidence in the financial sector.

The Supreme Court statement said this proposal was also recommended to the government for appropriate legislative action. It added that by advancing reforms directed at both commercial certainty and consumer protection, the commission had reaffirmed its commitment to supporting Pakistan’s economic development through a modern, efficient and responsive justice system.