Q.1. What is the current legal landscape for your practice area in your jurisdiction?

Ans. In Pakistan, the corporate law framework is governed by a series of legislative enactments, rules, regulations, and SROs, coupled with precedents set by the Supreme Court and High Courts of Pakistan.

The legal landscape has evolved with modern practices, especially with the legalization and use of technology to reduce distance, time, and physical human interaction.

The digital landscape is currently dominating across all sectors of doing business in Pakistan. The legislation around the corporate law framework is mainly focused on attracting foreign investors’ confidence in the legal system of Pakistan. Likewise, the superior courts are providing guidelines in their verdicts that encourage the quick disposal of executive decisions, improve administration, and eliminate obstacles that result in unnecessary delays and perpetuate frustration among the business community at large.

Q.2 What three (3) initial pieces of advice would you give to clients involved in your practice area matters?

Ans.
(1) Seek expert advice on strategy and execution.
(2) Good groundwork can reduce the recycling of the regulatory process and hence can reduce delays and duplication of efforts.
(3) Devise a clear pathway towards an exit strategy in case of prevailing uncertainty.

Q.3 What are the greatest threats and opportunities in your practice area law in the next twelve (12) months?

Ans.

Threats

There are no major threats for doing business in Pakistan however some areas 

require consideration 

(i) Local currency devaluation
(ii) High inflation
(iii) Propensity towards onerous tariffs, surcharges, cess, and taxes.

Opportunities

The Government of Pakistan has implemented a liberalized regime to attract more foreign investment to realize ease of doing business in Pakistan.

The establishment of the Special Investment Facilitation Council (SIFC) provides a one-stop-shop solution to speed up approval processes for specialized industries like telecom, aviation, digital assets, and civil defence.

Pakistan is replete with rich talent, mineral resources, and a large population creating significant consumer demand, digital payment infrastructure, solid protection and repatriation of foreign investment. Key considerations include the untapped potential in digital payment infrastructure, minerals and mining, digital healthcare services, cryptocurrency trade, online food and grocery delivery platforms, EV automobiles, solar energy and various Public-Private Partnership opportunities across diverse sectors.

Q.4 How do you ensure high client satisfaction levels are maintained by your practice?

Ans. The clients are mostly demanding certainty of the process and costs. We ensure that by setting a clear picture in terms of timelines, evidential requirements, and navigating available shortcuts which are often mandated under the law, but the standard route does not allow clients to adopt those shortcuts. The clients’ high satisfaction is made possible through credibility of responses, execution, and viability of the outcomes, in view of the commercial scenarios mandated to us.

Q.5. What technological advancements are reshaping your practice area under law, and how can clients benefit from them?

Ans. The latest advancement in technology is the adaptation of AI, which is revolutionizing the way most corporate matters are handled, with reduced human involvement. However, it is still not replaceable, as AI has not yet covered the vacuum of emotional intelligence, facial reading, and predictive intelligence that human character carries along.