Business

Pakistan needs well-regulated chambers

Licences of fake trade bodies being cancelled

Imran Rana May 09, 2018

FCCI President Shabbir Hussain Chawla said the chamber is contributing 25% in exports and employment generation PHOTO: EXPRESS

FAISALABAD: Global businesses are shifting to South Asia and Pakistan will survive in this changing environment only by virtue of its well regulated Chambers of Commerce and Industries (CCI) and Trade Organisations (TOs), said Directorate General Trade Organisations (DGTO) Regulator Dr Waqar Ahmad Shah.

Addressing a session in the Faisalabad Chamber of Commerce and Industry (FCCI) on Tuesday, he said that under comprehensive evaluation system, licences of the fake TOs are being cancelled.

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The objective of the session was to provide awareness about the licensing regulations by TOs. “At present, there are about 230 licensed CCIs and other TOs, out of which only 30% are complying. The All Pakistan Textile Mills Association (Aptma) has not complied with the mandatory laws and hence action has been initiated against it. National Assembly and Senate Committees on Commerce have directed me to compile comprehensive proposals to further improve the working of TOs,” he added.

There is one central office of DGTO in Islamabad. However, Shah is of the opinion that there regional offices should open up to help monitor the region. “The economy of Pakistan could flourish if there were only 10 active Chambers like the FCCI,” he stated. In the next meeting, FCCI SG Abid Masood will share his experience with SGs of other chambers.

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The Ministry of Commerce has launched a “Look Africa” campaign to explore the untapped market. The move came after Shah asked the FCCI to select one country where it could strengthen its trade with the help of the commerce ministry.

FCCI President Shabbir Hussain Chawla said the chamber is contributing 25% in exports and employment generation. Similarly, in textile exports, it is contributing 55%.

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Former FCCI president Mian Javed Iqbal stressed the need for digitalising DGTO’s system. “There should be a specific portal and all licensed organisations should upload their mandatory compliances through it.”

Published in The Express Tribune, May 9^th, 2018.

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