Karachi, November 28, 2022 (PPI-OT): The Members of United Business Group and Trade Bodies across Pakistan have hailed the decision of the National Assembly Standing Committee on Commerce scrapping the relevant clause of the amendment in the Trade Organisation Act 2013 pertaining to commencement of tenure of the elected office bearers of chambers and trade associations approved during the last joint session of parliament. The decision is sigh of great relief to genuine trade bodies.

The session of National Assembly Standing Committee was presided over by Khursheed Ahmed Junejo approved an amendment to the Trade Organisation Act (amended bill) 2022(Government Bill) moved by Aslam Bhotani to increase the tenure of office bearers of FPCCI and other trade bodies to two years, from one year, to be effective from 1 January 2023 which implies affectivity of amendment will be prospective.

UBG and members of Trade Bodies have said the decision of the Committee has diminished the ambiguities emerged due to commencement of the tenure of trade bodies with retrospective effect i.e. 1st January 2022 causing a great deal of confusion in the business community which had vehemently voiced against the relevant clause of the bill pertaining to commencement of the tenure of office bearers from the back date while the election process of the trade bodies was completed in September and new office bearers had taken over their charge from 1 October 2022.

The members of the UBG and Trade Bodies have said the decision of the National Assembly Committee has also foiled the unlawful acts and evil intention of the present management of FPCCI which is now bound to start the election process. They have appealed to the National Assembly Standing Committee on commerce that the election of FPCCI be held under the direct supervision of DGTO to ensure free, fair and transparent elections.

For more information, contact:
United Business Group (UBG)
Room No: 203, Second Floor,
Aiwan-e-Sanat Plot No.ST-4/2, Sector 23,
Korangi Industrial Area, Karachi, Pakistan
Tel: +92-21 35062200
Cell: +92-321-8261426