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TDRO to help resolve dispute

TDRO to help resolve dispute

KARACHI: The establishment of Trade Dispute Resolution Organisation (TDRO) will go a long way in resolving disputes through arbitration in an effective manner.

The ministry of commerce has been consulting the business community for the legislation. In this regard, a seminar was jointly organised by the Trade Dispute Organisation and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday.

FPCCI President Mian Mohammad Adrees said that due to absence of the said legislation businessmen face difficulty and its introduction would provide a big relief. He assured FPCCI’s support in the setting up of this organisation.

The chief executive of Trade Development Authority of Pakistan (TDAP), S.M. Muneer, stated that establishment of TDRO will facilitate business community in case of trade disputes abroad, in particular.

He appreciated the initiatives of director-general of TDRO Roubina Taufique for taking businessmen on board.

Roubina Taufiq pointed out that trade disputes normally arise in the absence of trade agreements between the concerned parties.

In many cases, she said, even if there is an agreement between the two parties, the clause of dispute resolution is always missing which lands both the parties in commercial courts for the resolution of their trade disputes.

She further said there are millions of trade-related disputes in pendency with commercial courts and this was causing huge losses.

Besides, being cost effective and time efficient, the TDRO maintains confidentiality as no information leaks outside a mediation room, she maintained.

The role of TDRO will not be restricted to resolving trade disputes but also to educate importers and exporters also, arrange capacity building and training of the concerned officials of the organisation.

Published in Dawn, September 9th, 2015

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