The Chief Justice seeks a precise reading of the law.
Justice Bandial points out that where there is doubt, courts tend to make swift decisions.
ISLAMABAD: Pakistan’s Chief Justice Umar Ata Bandial said on Saturday that judges exercised their authority with great restraint, citing the frequent interpretation of the law as a source of controversy.
The Chief Justice stated that law enforcement was the Supreme Court’s primary concern.
He emphasized the necessity for legal specialists to resolve the conflicts through accurate interpretation of the law, adding that when there was doubt, swift decisions were taken.
The chief judge of Pakistan made this observation at the end of a two-day symposium hosted by the Securities and Exchange Commission of Pakistan (SECP) at a hotel in the nation’s capital, noting that the topic of the symposium, “Corporate Supervision and Regulatory Actions,” presented an opportunity for the growth of the country’s business sector.
He went on to say that he wasn’t an AI expert, but that more business activity would be good for the economy.
Several businesses, Justice Bandial said, had requested subsidies for power and gas.
He went on to say that Article 25 of the Constitution was there to ensure equitable distribution of wealth because businesses needed a regulatory framework. As the saying goes, “the government gives subsidy, and the Supreme Court can only see if this subsidy is non-discriminatory or not.”
The CJP has called for greater openness in the commercial regulatory system.
He also said that the government’s communication for economic growth needed to be enhanced.
The presiding judge remarked that the business community needed to see consistent progress before making any choices.
Don’t shock an entrepreneur if you want commerce to flourish in your nation. Because “you can’t chop the tree if you’re looking for the fruit,” he explained, it’s crucial that the tax regime be stable and constant.
The CJP highlighted the significance of providing an even playing field for investors.
He explained that monopolized markets made it impossible for huge investors to participate.
Shareholders should be protected, as Justice Bandial emphasized.
He spoke about previous encounters with majority shareholder petitions and how they were ultimately dismissed.
The CJP emphasized the importance of protecting minority shareholders.
He pleaded for an end to dishonesty on the part of the company’s leadership and big stockholders.
The chief judge specifically mentioned tax collectors as another group that stands to gain.
Integrity in the system was something he emphasized repeatedly.
He agreed that the SECP played a regulatory role within the corporate structure.
Outside the corporate structure, however, he stressed the importance of influencing legislation and alerting relevant government agencies to the possibility of disruptions to the commercial world.
The Chief Justice also emphasized the value of constitutional and regulatory bodies.
The Election Commission of Pakistan (hence referred to as “ECP”) is a constitutional institution. We have to uphold the ECP as a matter of law,” he concluded.
The chief judge also brought up another constitutional body with nationwide jurisdiction that was underutilized.
He stressed the importance of empowering Pakistan’s auditor general to conduct independent account checks to ensure adequate accountability.
