SECP Plans New System to Resolve Business Disputes Faster

The Securities and Exchange Commission of Pakistan (SECP) is planning significant reforms to accelerate the resolution of business disputes and alleviate pressure on the judiciary. SECP Chairman Dr. Kabir Ahmed Sidhu announced the consideration of mandatory pre-litigation mediation for commercial disputes and the establishment of a specialized dispute resolution center for the financial sector. These reforms, inspired by the UK's successful model and supported by the judiciary, aim to reduce court backlogs, lower litigation costs, accelerate recoveries, and ultimately enhance investor confidence and transparency in Pakistan's business environment. The new center will be established with assistance from the United States Commercial Law Development Program.