ICCI to establish Alternate Dispute Resolution Centre
Islamabad Chamber of Commerce and Industry (ICCI) signed on Tuesday an MoU with Economic Reforms Unit of Ministry of Finance for establishment of Alternate Dispute Resolution Centre (ADRC) at its premises.
The Centre would facilitate the local business community in out-of-court settlement of business-to-business disputes
Muzzamil Hussain Sabri, President Islamabad Chamber of Commerce and Industry and M. Yasin Gohar, Joint Secretary Finance Division signed the MoU. ICCI in collaboration with Economic Reforms Unit of Ministry of Finance signed another MoU with Securities and Exchange Commission of Pakistan (SECP), Fedearl Board of Revenue (FBR) and EOBI for establishment of a Physical One-Stop Shop (POSS) at its premises for registration of new companies and businesses.
The POSS will facilitate the incorporation of new companies with SECP, obtaining national tax number with FBR and employer registration with EOBI under one roof at ICCI.
Muzzamil Hussain Sabri President ICCI, Syed Iqbal Haider Zaidi Director General (Ops) EOBI, Mubasher Saeed Saddozai, Director SECP and Zain-ul-Abedin Sahi, Secretary (IT) FBR signed the MoU.
Speaking on the occasion, Muzzamil Hussain Sabri said settlement of trade disputes through litigation was a time consuming and costly process while establishment of ADRC will provide a good opportunity to local business community to seek out-of-court and speedy settlement of such disputes. He said the POSS would rove to be highly beneficial for local business community as it will enable them to get registered with SECP, FBR and EOBI at one location. Madam Fauzia Abid Deputy Secretary and Umer Khalid Industrial Policy Advisor, Economic Reforms Unit of Ministry of Finance said establishment of ADRC and POSS will contribute positively in improving Pakistan’s ranking on business benchmarks.