LCCI ADRC resolves international trade dispute successfully
Lahore (MNP) An international trade dispute, involving around $140,000, has been resolved by the Alternate Dispute Resolution Centre (ADRC) of LCCI.
The ADRC team comprises of LCCI Executive Committee Members Sheikh Muhammad Ibrahim, Waseem Yousaf, Riaz Ul Hassan and Legal Advisor Sheikh Khurram Abbas. It is the second tremendous success of ADRC, LCCI within one month of its creation.
LCCI President Kashif Anwar said that the Lahore Chamber of Commerce and Industry has established Alternate Dispute Resolution Centre for out-of-court settlement of business disputes.
He said that the Centre has the services of an experienced mediator and it will be more effective in the days to come. He said that ADRC is a feather in the cap of LCCI that would help resolve disputes at early stages.
The LCCI president said the chamber is not only putting its best efforts in trust-building between the government and the private sector, but is also supplementing state efforts aimed at economic revival of the country.
Kashif Anwar said that the Alternate Dispute Resolution Centre has been established with the objective of resolving the business and commercial disputes out of court for both local and foreign companies.
He said that this way, companies are better able to maintain a healthy relationship amongst themselves. Additionally, there is lesser burden on the country’s legal system. Furthermore, businesses tend to prefer out-of-court mediation because judicial decisions take a lot of time.
The LCCI President lauded the efforts of the ADRC Team for resolving the disputes successfully.
He said that the Lahore Chamber of Commerce and Industry would continue to play its best role for the betterment of business environment.
