ICC Pakistan has been advocating the promulgation and enforcement of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention 1958). The New York Convention 1958 has now been promulgated as an Ordinance to provide for the Recognition and Enforcement of Arbitration Agreements and Foreign Arbitral Awards. Subsequent to the ICC Arbitration Conference hosted by ICC Pakistan on 23rd November 2005 at Karachi, High Courts in Pakistan have enforced the Arbitral Agreements.
The Ordinance was first promulgated on 14th July 2005 and still remains in the form of an Ordinance. |