Arbitration Reimagined: Analyzing Pakistan’s New Draft Bill on Arbitration Act 2024

The study reviews the existing conditions in Pakistan concerning arbitration legislation and the existing Arbitration Act 1940 and the Draught Bill for Arbitration Act 2024 has been proposed based on the United Nations Commission on International Trade Law Model Law. The objective is to evaluate how the new framework could address existing problems plaguing the courts such as inefficiencies and outcomes that have caused judge interference and hindered party autonomy on claim resolution. The research adopts doctrinal method, comparing provisions of the statutes with trend in International arbitration. Based on the findings, the Draught Law expands the powers of the arbitral tribunal, reduces the role of courts, and increases power of the parties, and makes the system more reliable and effective. Finally the study recommends measures to enhance the possibility of the Draught Law such as development of ADR infrastructure, training of arbitrators, and enhancing the overall legal practitioners’ understanding of the Draught in order to ensure the success of the Draught Law.