Latest news with #AlternativeDisputeResolution
Business Standard
4 days ago
- Business
- Business Standard
G20 Sherpa Amitabh Kant urges Indian businesses to build foundational AI models
Mr Amitabh Kant, Indias G20 Sherpa, said that the Artificial Intelligence (AI) race has just begun and urged Indian businesses to build foundational models. Mr Kant was speaking at the session on Making this Indias Moment: What Must India Do? at the CII Annual Business Summit 2025 in New Delhi on 29 May. Indias G20 Sherpa believes that Indian models will provide solutions to many of the challenges faced by countries around the world. What we did in digital public infrastructure is that we used open source, open API, globally interoperable models, and those models will be the way forward for us. Therefore, India must build its foundational model. I believe India will provide these foundational models for many areas which have challenges for the world, he said. How to improve learning outcomes, health outcomes and nutritional standards, etc. India will use its 22 languages and thousands of dialects to find solutions to many of the challenges of the world. Indian startups will do some pathbreaking work in this area, Mr Kant said. Talking about the ease of doing business, Indias G20 Sherpa said that the central government has put in the building blocks, and that it is time for states to bring reforms. He also urged the industry to invest in research and development to develop cutting-edge technologies to sustain Indias accelerated growth. He also said that Quality Control Orders (QCOs) must be used rationally to ensure Indian industry can grow. To make Indian Industry more competitive, he suggested that States give land to the industry on long-term lease and privatise DISCOMS to make them more efficient. He also underlined the need for an Alternative Dispute Resolution (ADR) mechanism to ensure speedy justice, especially in commercial cases.
Hans India
5 days ago
- Business
- Hans India
India must build AI models to solve world challenges: Amitabh Kant
New Delhi: Artificial Intelligence (AI) race has just started, and Indian foundational models will solve many challenges for the world, G20 Sherpa Amitabh Kant said on Thursday, urging Indian companies to build better and efficient AI foundational models. "What we did in digital public infrastructure (DPI) is that we used open source, open API, globally interoperable models, and those models will be the way forward for us," Amitabh Kant said at the CII Annual Business Summit 2025. "Therefore, India must build its foundational model. I believe India will provide these foundational models for many areas which have challenges for the world. How to improve learning outcomes, health outcomes and nutritional standards, etc," he told the gathering. According to Amitabh Kant, India will use 22 languages and thousands of dialects to find solutions to many of the challenges of the world. "Indian startups will do some pathbreaking work in this area," he added. Talking about the ease of doing business, the G20 Sherpa said that the Central government has put in the building blocks, and it is time for states to bring reforms. He also urged the industry to invest in research and development to develop cutting-edge technologies to sustain India's accelerated growth. Amitabh Kant also said that Quality Control Orders (QCOs) must be used rationally to ensure Indian industry can grow. To make Indian Industry more competitive, he suggested that states give land to the industry on long-term lease and privatise discoms to make them more efficient. He also underlined the need for an Alternative Dispute Resolution (ADR) mechanism to ensure speedy justice, especially in commercial cases. Amitabh Kant said that tourism is another great area for growth. 'We need to roll out a massive Incredible India campaign to attract tourism in a big way. This is India's soft power. It has a huge multiplier effect in terms of jobs and can create millions of jobs. States must drive the tourism sector as the driver of growth,' he said. CII's President Designate (2024-25) and EY India Chairman and CEO, Rajiv Memani, said that India has done a lot of work in manufacturing and underlined the need to boost the sector further. He also highlighted the need for second-generation reforms and advocated for alternate dispute resolution.
Business Recorder
14-05-2025
- Business
- Business Recorder
Constitution of ADRCs: Three SOEs directed to approach FBR
ISLAMABAD: Appellate Tribunal Inland Revenue, Islamabad has directed three leading State-Owned Enterprises (SOEs) to immediately approach Federal Board of Revenue (FBR) for the constitution of Alternative Dispute Resolution Committees (ADRCs) to resolve their tax related disputes. These appeals, involving fiscal disputes between various State-Owned Enterprises (SOEs) and the State, have been instituted before the ATIR before July 1, 2024. 'For SOEs, participation in the ADRC mechanism is not an exercise in discretion but a statutory compulsion. The text of the law is couched in mandatory terms, leaving no interpretive ambiguity. An SOE is obligated to approach the FBR for the Constitution of an ADRC, and unlike its non-SOE counterpart, it does not possess the liberty to assess the desirability of this route. More importantly, the statute mandates that SOEs must withdraw all pending appellate proceedings prior to the initiation of ADRC proceedings, ATIR directed the SOEs. According to the order of the ATIR, the present appeals—being instituted by a state-owned enterprise — are no longer maintainable before this forum by operation of law. The remedy available to the appellants now lies exclusively within the domain of the ADRC constituted under Section 134A of the Income Tax Ordinance, 2001. The concerns raised by the appellants regarding the Constitutionality of the framework, however legitimate they may be, fall outside the scope of our jurisdiction and must be addressed before the appropriate constitutional forum. Accordingly, the subject appeals, filed both by the department and SOEs are disposed of without adjudication on merits. The SOEs shall approach the Federal Board of Revenue for the constitution of an ADRC in accordance with law. The Department shall ensure expeditious facilitation in this regard, so that the objective of speedy and amicable dispute resolution—so central to the philosophy of the amended law—may be realised in letter and spirit, ATIR order added. Copyright Business Recorder, 2025
Business Recorder
09-05-2025
- Business
- Business Recorder
Experts say Tax Ordinance will harm investment climate
LAHORE: A diverse group of businessmen, legal experts, tax specialists and journalists believed that the recently promulgated Tax Laws (Amendment) Ordinance 2025 will do more harm to business and investment climate of the country without any significant tax-collection benefit contrary to the anticipations of the government and Federal Board of Revenue (FBR). They expressed their concerns during a consultative session convened on Thursday under the PILDAT Business Policy Programme. The session, chaired by former Punjab Governor Shahid Hamid, discussed the implications of the recently promulgated ordinance on Pakistan's business and investment environment. Renowned tax expert Dr Ikramul Haq delivered the keynote address and presented the detailed analysis of the Ordinance and its implications for the country in general and businesses in particular. The session included an exchange of views on how the ordinance may affect various sectors, with participants expressing concern over the lack of prior consultation with the business community and their representative organisations, such as the chambers of commerce, the growing complexity of the tax system and the negative signals sent to potential investors. The speakers also referenced Pakistan's persistently low tax-to-GDP ratio, hovering around 9.2 percent, and the steady decline in ease-of-doing-business rankings as indicators that more systemic and transparent tax reforms are needed. They recommended that major fiscal reforms must be thoroughly debated in the Parliament and through structured engagement with the business community before implementation. The continued practice of introducing significant economic changes through ordinances, without consultation or parliamentary scrutiny, was widely criticised for undermining business confidence and eroding investor confidence. Serious concerns were expressed over the proposed deputation of legal and enforcement officials to business centres, which participants viewed as a reflection of the government's lack of trust in the business community. It was emphasised that such measures risk adding a new layer of potential corruption and reinforcing a perception that businesses are being treated as suspect entities under surveillance, rather than as partners in national economic development. Many participants questioned the utility and sense of deploying physical surveillance staff in this day and age of digital technology. The session also underscored the need to invoke and strengthen the Alternative Dispute Resolution (ADR) mechanism to address tax-related issues in a transparent, amicable, and business-friendly manner, thereby reducing litigation and building trust between taxpayers and the state. Earlier, PILDAT President Ahmed Bilal Mehboob emphasised the critical importance of stakeholder dialogue and transparency in tax reform processes. He noted that while tax reform is essential for improving revenue generation, the process must be inclusive and consultative to ensure credibility and compliance. Copyright Business Recorder, 2025
Express Tribune
21-04-2025
- Politics
- Express Tribune
Tarar declares ADR a national necessity
Federal Minister for Law and Justice Azam Nazeer Tarar addressing a press conference in Islamabad on March 28, 2024. PHOTO: PID Federal Minister for Law Azam Nazeer Tarar has said the massive backlog of court cases makes the Alternative Dispute Resolution (ADR) not a choice but a necessity. Addressing the participants at the opening ceremony of a two-day training on arbitration on Monday, Tarar said lawyers are the future of the ADR in Pakistan. The training was organized by the International Mediation & Arbitration Centre (IMAC), under the Ministry of Law and Justice, in collaboration with the Punjab Bar Council (PBC). Tarar said such training programmes are instrumental in opening new avenues for legal practice, advocacy, and professional growth.
