IMF concerned at contract enforcement, property rights

ISLAMABAD: The International Monetary Fund (IMF) has raised concerns regarding contract enforcement and property rights, highlighting their direct impact on foreign investments.

A meeting between Supreme Court Bar Association (SCBA) President Mian Rauf Atta and the IMF mission was held here on Monday, according to a press release issued by the SCBA president.

The discussion covered a range of issues, with a particular focus on judicial efficiency—apparently a key concern for the mission. The SCBA president provided a detailed clarification to the mission’s queries. He informed the delegation that two major initiatives were currently under way to enhance judicial efficiency—one on the judicial front and the other on the legislative side.

He stated that the measures aim to improve judicial efficiency and remove procedural bottlenecks. Efforts were also being made to implement similar reforms in both the higher and subordinate judiciary, he added.

On the legislative front, he apprised the mission that the recently passed 26th Constitutional Amendment seeks to strengthen judicial independence, enabling a more efficient and effective judicial system.

It was reiterated that under this amendment, a constitutional bench has been established to handle complex, high-profile political and constitutional cases, thereby saving the court’s time for routine matters. Additionally, an institutional mechanism to evaluate judges’ performance was already in place. The meeting concluded with both sides agreeing that resolving these issues hinges on economic and political stability, along with good governance.