The Lahore Chamber of Commerce and Industry (LCCI) Mediation Centre on Tuesday successfully resolved another long outstanding business dispute, valued at over $13, 000, between two leading business houses. The centre, backed by the International Finance Corporation (IFC) which is a private arm of the World Bank, houses accredited mediators duly trained by foreign mediators working with the IFC. Both business parties concerned expressed their satisfaction over the expertise of the LCCI mediators and signed an agreement for the payment schedule of the outstanding amount in the presence of LCCI Mediation Centre Convener Sohail Lashari. LCCI President Farooq Iftikhar appreciated Lashari’s efforts in handling the business dispute that could have lingered on for years, if the parties concerned had not approached the LCCI and instead opted for routine legal procedures. Apart from already helping resolve one case involving foreign buyers, the centre has additionally received a large number of business disputes that are fast heading towards amicable solutions.
