ICCI calls for early promulgation of new rent law in Islamabad

Islamabad, December 29, 2017 (PPI-OT):Nisar Ahmed Mirza, Acting President, Islamabad Chamber of Commerce and Industry has called upon the government to take urgent measures for early passage and promulgation of a new rent control law in Islamabad to meet the long-standing demands of traders. He said due to delay in the enactment of amended bill of rent law, the traders of almost all the local markets have now started protest movement as they were feeling very disappointed over the inaction of the government to promulgate a new rent law in the federal capital. He was talking to a delegation of local traders that called on him to discuss the problems being faced by the trading community due to absence of a rent law in Islamabad.

The delegation members said that with the consultation of all stakeholders, an amended bill of rent control act for Islamabad was prepared that was presented long time ago in the National Assembly. However, no action has been taken so far to pass the said bill into law and delay in its enactment was giving rise to rent disputes. This situation was creating lot of frustrations in the trading community as they were feeling insecure about their business future. They stressed that government should pass the bill into law without wasting further time so that traders could do business with a sense of security and peace of mind.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526, 2253145, 8432676
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk

Check Also

SAI President Criticizes SBP’s Modest Rate Cut, Calls for More Aggressive Reductions

Karachi, Muhammad Kamran Arbi, President of the Site Association of Industry (SAI), has publicly criticized the State Bank of Pakistan's (SBP) recent decision to reduce the interest rate by only 1.5%. Arbi described the cut as "insufficient" for addres...

The post SAI President Criticizes SBP’s Modest Rate Cut, Calls for More Aggressive Reductions appeared first on Pakistan Business News.