The Pakistan Engineering Council (PEC) is doing something big to bring in more money for engineering projects in the country. They’re starting a plan to get both local and foreign investors interested. One of the things they’re doing is setting up Technical Arbitration Tribunals.
These tribunals will be made up of experts who will listen carefully to everyone involved in a problem and then give their opinion. The head of PEC said they’re going to put these special centers, called Alternative Dispute Resolution Centers, in big cities all over Pakistan.
PEC is teaming up with the Chartered Institute of the UK to make these centers happen, said Najeeb Haroon.
The first center, called the Pakistan ADR Center, is going to open in Karachi on May 11, according to the PEC chairman. This plan is all about solving problems quickly so projects don’t get held up.
Engineer Najeeb Haroon thinks that if they can solve problems fast, investors will trust them more. The chairman of PEC also said that having these special centers will help regular courts deal with tricky technical stuff better.
The chairman also talked about how important it is for investors to have an easy way to do business, mentioning the SIFC’s one-window operation.
Opinion:
It’s great to see initiatives like these being taken to make investing in engineering projects easier and more reliable. Quick and fair dispute resolution is crucial for keeping projects running smoothly and attracting investors. Collaborations like this, along with streamlined processes such as the one-window operation, can significantly boost investor confidence and contribute to the growth of Pakistan’s engineering sector.
