Commerce bodies want trade ordinance annulled


Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Saarc Chamber of Commerce and Industry (SAARC CCI) has demanded that the government overturn Trade Organisation Ordinance 2007 and reintroduce Trade Organisation Act 1961 after necessary amendments.
The ordinance enacted on June 5, 2007 hasn’t been approved by the National Assembly is it not serving economy, business community or nation, said Senator Haji Ghulam Ali, President FPCCI.
Speaking at a reception hosted in honour of Federal Minister for Law, Justice and Parliamentary Affairs Moula Baksh Chandio, he said that economic growth is difficult unless laws governing the businesses are altered to suit the needs of business community. Senator Ghulam Ali said that the role of regulators needs to be strengthened to guarantee enabling environment for business community which is in the national interest.
“We will be better positioned to focus on exports once we settle our problems at home,” the Senator said. On the occasion, Saarc CCI VP Iftikhar Ali Malik stressed that the economy is overregulated where laws are not supporting growth in businesses.
He said we need a constitutionally-protected economic advisory board on the pattern of Indonesia which can ensure consistency and continuity in policies while remaining above the political considerations. However, he quickly added, this is something alien to our country.
Malik said that laws pertaining to trademarks, piracy, IPR should be improved so that the investors take further interest in Pakistani market. It was also noted that the trade development fund is an additional burden on business community which has been of marginal benefit. Federal Minister Moula Baksh Chandio assured the business community of resolution of all just demands. He underscored that the business community can meet him anytime with solid proposal and recommendations aimed at improvement or countermanding any existing laws. He said that all the changes would be made with the entire stakeholder on board adding that all legal support would be ensured to promote trade and business activities for industrial development in the country.