FPCCI President Atif Ikram Sheikh. Photo: File
LAHORE:
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed grave concern over the proposed legislation to amend the Trade Organisation Rules, stating that it has sent shockwaves through the business community nationwide.
In a statement, FPCCI President Atif Ikram Sheikh said that the business community had serious reservations about the Trade Organisation Rules 2013 Amendment Bill.
“The business environment is already shaky due to internal and external trade barriers and pressures. Chambers of Commerce are the last resort for the business community to raise their voice. The proposed legislation will eliminate district-level chambers, destroy institutional structures and devastate district economies,” he said.
Sheikh emphasised that district chambers play a vital role in shaping local economies and contributing to the country’s economic growth. “Any restriction on trade organisations could exclude export-oriented businesses from representation. The amendments will demoralise the business community and discourage SMEs and women-led businesses.”
He urged parliament to reject the bill and allow district chambers to continue their operations.
In another statement, FPCCI Senior Vice President Saquib Fayyaz Magoon expressed concern over the bill tabled in the National Assembly Standing Committee on Commerce seeking amendments to the Trade Organisation Rules 2013. He cautioned that any abrupt changes to the existing framework could result in closure of numerous representative trade bodies across the country.
