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Business

March 21, 2017

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Govt to finalise IPRs draft by year-end

Govt to finalise IPRs draft by year-end

LAHORE: The government will finalise the draft of intellectual property rights laws by this year-end after completing the consulting process with all the stakeholders, commerce minister said on Monday. 

Commerce Minister Khurram Dastgir Khan, talking to media after 3rd consultative session of national intellectual property strategy, said the strategy is being worked out and “this consultative seminar was also one of its components.” Khan said all measures are being put in place to increase country's exports. Pakistan’s trade with India is being done under the trade policy 2012. 

On cyber issues, he said following the directives of the prime minister, the parliament has initiated legislation process in this regard. The parliament passed the cyber crime bill last year.  Commerce minister said the country's growth rate came down because of severe energy crisis, but the present government is all committed to cover this reduction and also to ensure the highest economic growth rate. “That is why the government has initiated a number of power generation projects by utilising all resources including coal, hydropower, wind and solar.”

He said the projects worth $30 billion have been started under the China-Pakistan Economic Corridor.  About Pakistan-Afghanistan trade, he said turmoil in Afghanistan is affecting Pakistan, adding the recent terror incidents were a great setback to Pakistan. “We have to maintain balance between security and trade.”

Earlier addressing the session, minister Khan said rights of exports, technological expertise, cultural and literature could not be secured without having proper mechanism for intellectual property.  Awareness regarding intellectual property among public will support innovative development.

The government is in constant liaison with the Intellectual Property Organisation for working out a strategy to protect intellectual property, including trade mark, patent and copy rights. Commerce minister said intellectual property was envisaged in the prime minister’s vision 2025, which focuses to integrate the country’s trade in consonant with the requirements of 21st century. 

“If we want to protect our intellectual property rights then we also have to care about the intellectual property of other countries in the world,” he added. “Under the leadership of Prime Minister Nawaz Sharif, the government has taken the matter seriously and trade protection laws have also been passed by the parliament in 2015, while geographical induction laws for protection of local industrial and agricultural production are in final process and would be tabled in the parliament within next two to three months.”

 

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