NA body discusses draft Trade Dispute Resolution Act

ISLAMABAD: The Standing Committee on Commerce and Textile Monday discussed the draft Trade Dispute Resolution Act, 2018 aimed at providing swift and effective resolution of disputes relating to the Export as well as Import.

The act would help in promoting international trade in Pakistan by aligning trade governance with international best practices, including World Trade Organization (WTO) and United Nations Commission on International Trade Law (UNCITRAL) models.

The meeting was chaired by Siraj Muhammad Khan while among others it was attended by MNAs; Ms. Tahira Aurangzeb, Nazir Ahmed Bughio, Shazia Marri, Ms. Mussarat Ahmad Zeb, Ms. Sajida Begum, Dr. Fouzia Hameed, Sanjay Perwani, and Senior Officers of the concerned Division/Departments.

Under this Act, Trade Dispute Resolution Commission will be established with its Headquarters at Islamabad and Regional Offices at Provincial Capitals including AJK.

However, the detailed rules are under preparation, the statement said adding the committee desired that the rules should be framed keeping in view expeditious resolution of the disputes.

The Committee was apprised that Intellectual Property Organization (IPO), in compliance with committee’s directions, is in coordination with the concerned quarters to establish its Regional Offices at Peshawar and Quetta.

It was informed that draft IPO Rules were under review at Establishment and Finance Divisions, adding for complaint resolution IPO has established Anti-Piracy and Anti-Counterfeiting Cells at Islamabad, Lahore and Karachi.

IPO was actively coordinating with IP tribunals, Islamabad, Karachi and Lahore for timely disposal of IP cases. The Committee desired IPO to finalize its rules at the earliest.

The Committee considered the petition, filed by Royal Group, for promotion of the pharmaceutical exports to non-traditional markets.

Despite a declining trend in the overall exports, the pharmaceutical export has registered an increase of 26 percent over the last 5 years from US $ 169.6 million (2012-13) to US $ 213 million (2016-17).

They invited attention of the committee towards the grievances the sector has been facing, including non-payment of customs rebate for the last 5 years and pending of payment of sales tax for the last 3 years.