Trade Bodies Reject Amendment in Section 11 of Trade Organizations Act 

Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Atif Ikram Sheikh Wednesday urged the government to maintain the duration of the chambers for two years.  Addressing a press conference, with the representatives of the chambers in Pakistan, he said that the duration of the elected bodies used to be two years, now this period has been reduced to one year. The business community pays taxes and pays electricity bills, the chambers should be given a period of two years to fulfill the mandate given by the traders, he added. He pointed out that the Ministry of Commerce has assured to resolve the issue.   The FPCCI President also said the policy rate should be reduced due to reduction in inflation.  Pakistan Vanaspati Association Chairman Sheikh Umar Rehan said in the press conference that it is not easy to hold elections in the trade bodies and the government should withdraw its decision, the tenure of the officials of the chambers should be two years.   FPCCI Vice President Saqib Fayyaz said that all the office bearers have got a mandate of two years and this amendment is not acceptable, we do not accept the new law which has been implemented.  Representative Rawalpindi Chamber of Commerce Saqib Rafique said that they reject the amendments in the Trade Act. Section 11 of the Red Organization Act should be amended.  President of Women Chamber of Commerce Samina Fazil said that they reject the amendments in the Trade Organization Act.