The Convenor LCCI-IFC Mediation Centre Sohail Lashari on Friday urged the LCCI members to bring their disputes, if any, to LCCI Mediation Centre for their out-of-court settlement as all rules and regulations to this regard have been finalised. Lashari said that since the Mediation Centre has now been fully operation, therefore, LCCI members who have their disputes their global partners should approach this centre as it is accredited by International Finance Corporation (IFC) of the World Bank Group.
The LCCI Convenor was talking to IFC Representative Reshma Aftab here at the Lahore Chamber of Commerce and Industry. He said that the Mediation Centre has been established to help private sector companies resolve disputes quickly and easily as in commercial courts, cases are often expensive and take a long time. Businesses are often hindered by long and costly court procedures and the LCCI Mediation Centre will help them resolve disputes amicably, allowing them to devote more resources to growing and creating jobs.
Lashari said that the centre is a historic achievement for the business community of Lahore, adding that the scope of this centre would be extended to other chambers of commerce in Punjab by signing memoranda of understanding with them, according to the statement. "We will also communicate to the regional and international business community through their relevant government officials, leading chambers, sector associations, banks, multilateral development institutions and diplomatic missions." He said that it is a giant leap in terms of building a world-class platform at the Lahore Chamber for efficiently resolving the business disputes.