Proposed Amendments to Trade Organization Rules Send Shockwaves Through Business Community: FPCCI President

PAKISTAN

Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has expressed grave concern over the proposed legislation seeking amendments to the Trade Organization Rules, stating that the move has sent shockwaves across the country’s business community.

In a statement, the FPCCI chief said the business community holds serious reservations regarding the Trade Organization Rules 2013 Amendment Bill. He noted that the prevailing business environment is already under strain due to both internal and external trade barriers and mounting economic pressures.

“The business environment is already shaky. Chambers of Commerce serve as the last resort for the business community to raise its voice. The proposed legislation will eliminate district-level chambers, dismantle institutional structures, and severely impact district economies,” he warned.

Sheikh emphasized that district chambers play a pivotal role in shaping local economies and supporting national economic growth. According to him, any restrictions on trade organizations could potentially deprive export-oriented businesses of proper representation.

“The amendment will demoralize the business community and discourage small and medium-sized enterprises (SMEs) as well as women-led businesses,” he added.

The FPCCI president urged Parliament to reject the bill and allow district chambers to continue functioning. “This move could have far-reaching consequences for the economy and the broader business community. We request the authorities to reconsider the proposed legislation and ensure that district chambers are allowed to operate effectively,” he concluded. – ER News Desk

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