Public policy challenges
Loading...
Date
2023
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
UMT Lahore
Abstract
Arbitration is widely recognized as an effective alternative dispute resolution mechanism in the realm of commercial and international trade disputes. In Pakistan, the use of arbitration has gained momentum over the years due to its potential for expeditious and impartial resolution of disputes. However, despite the increasing popularity of arbitration, challenges persist in the enforcement of arbitral awards, primarily stemming from the complex landscape of public policy considerations. This research examines the public policy challenges that impede the smooth enforcement of arbitral awards in Pakistan. By conducting a comprehensive review of relevant legal frameworks, case law, and scholarly literature, this study sheds light on the various dimensions of public policy as a ground for resisting the enforcement of arbitral awards. The findings reveal that the definition and interpretation of public policy in Pakistan are broad and flexible, allowing courts significant discretion in their assessment of the enforceability of arbitral awards. Consequently, this lack of a precise and uniform approach has led to inconsistent decisions, undermining the certainty and predictability that are essential for the growth of arbitration as a preferred mode of dispute resolution. In conclusion, addressing the public policy challenges surrounding the enforcement of arbitral awards in Pakistan is crucial for promoting investor confidence, encouraging foreign investment, and establishing the country as a reliable seat for arbitration. Through a focused effort on clarifying and streamlining the application of public policy, Pakistan can harness the full potential of arbitration as a robust mechanism for resolving disputes and fostering economic growth.