A fair and transparent judicial system can go a long way in accelerating the inflows of foreign investment in a country. Speaking to faculty members and students at East China University Shanghai, Chief Justice of Pakistan, Saqib Nisar, said that higher judiciary in Pakistan is very conscious of its role to make the country more attractive destination of foreign direct investment (FDI). The National Judicial Policy Making Committee (NJPMC) had issued directions to civil courts not to issue ex parte stay orders in respect of the CPEC-related projects. There was also a requirement of uniformity in laws, processes and mechanism to look after FDI and that special courts may be designated for hearing the CPEC-related issues. The sharing of legal ideas and the use of information technology will be materially helpful for the judicial systems of both the countries. The Chief Justice also said that he believes that the most important element for putting foreign investors at ease in Pakistan is to ensure a strict adherence to the "rule of law". The discretions and powers vested with the state functionaries are not unfettered and are to be exercised judicially and not arbitrarily or whimsically. Judiciary in Pakistan is truly independent and metes out judgments without fear or favour and being torchbearer of the rule of law in Pakistan, the superior judiciary in Pakistan is playing a vigilant role for fair dispensation of justice. Supreme Court of Pakistan makes hectic efforts to ensure that other organs of the state also remain vigilant in their roles and work together for national sovereignty, security, integrity, fundamental rights and welfare of the citizens of Pakistan. The CJP also reiterated his commitment to work in collaboration with all neighbouring states to strengthen the rule of law in the region and to build a strong foundation for a modern and progressive Pakistan as envisaged by the Constitution of Pakistan.
We feel that what the Chief Justice of Pakistan emphasized in Shanghai is timely and appropriate to the situation. Most of the foreign investment in Pakistan is now coming from China, especially under the CPEC, and Chinese investors are needed to be assured that their investment in the country is safe and sound and if some dispute arises at any point of time, dispute resolution mechanism in Pakistan through courts is superior and non-discriminatory and strictly according to the law of the land. Such an assurance will improve the confidence level of foreign investors in Pakistan's judicial system and give a sense of protection, comfort and peace of mind whilst investing in Pakistan. While explaining the main features of judicial system in Pakistan, the main factor behind Chief Justice's mind may be that some of the foreign investors, not content with the judicial system in Pakistan, had to seek help of foreign courts to settle their cases. In order to allay the fears of Chinese investors, Saqib Nisar had also to say that his visit to China was an attempt to strengthen cordial relations by sharing experiences and capabilities in different walks of life, especially in the justice sector of the region. The judiciaries in Pakistan and China, in particular, are required to work closely for developing mechanisms such as smart courts and information centres for quicker disposal of cases. The superior courts in Pakistan have now also become famous for providing checks and balances to the executive authority of the state by means of judicial review of executive actions and decisions of the courts are generally based on sound principles of justice, equity, fairness and in accordance with the spirit of the Constitution. If foreign investors in Pakistan from all the countries in the world, including China can be assured that disputes arising out of trade and commercial contracts will be dealt with a quick and just manner, without endless procedures and frustrating delays, it will definitely make Pakistan an attractive destination for FDI. It may though be noted that there would be many other impediments in the flows of FDI to Pakistan and just and quick resolution of disputes between parties through courts could only be one factor in furthering the flows of foreign investment. Nonetheless, it is encouraging to note that the apex court is aware of the problems and prepared to play its role in promoting economic development of the country.