An article in The Express Tribune on Wednesday highlighted that the leaders in Karachi’s business community are advocating for Pakistan to strengthen its intellectual property rights (IPR) system through technology to expand the country’s wealth.
The President of the Karachi Chamber of Commerce and Industry (KCCI), Mohammed Tariq Yousuf, welcomes the Chairman of the Intellectual Property Organization (IPO), Farrukh Amil, stating that a strong IPR system is critical for the country’s economic development, but there is a need for strict enforcement of IPR laws at all levels.
The IPO chairman expressed his commitment to simplifying IP procedures through digitalization, emphasizing the need to simplify the cumbersome process to allow individuals and companies to register their products and services easily.
The implementation of stronger IPR laws will benefit small and medium-sized enterprises (SMEs) and multinational enterprises (MNEs) by attracting talent, promoting a long-term business mindset and increasing foreign direct investment (FDI).
Pakistan can learn from other countries’ IPR systems, particularly South Korea, to benefit its own system. The IPO chairman acknowledges that intellectual property is neglected in Pakistan, and introducing an IP-related curriculum in schools is necessary.
The critical need for strict enforcement of IPR laws, including heavier fines and stricter punishments, is emphasized to protect producers’ interests and save the public from counterfeit products.
To read the full article visit www.tribune.com.pk
