According to the MoU both chambers will make frequent visits to each other and the business communities will have direct interaction with B2B meetings.
ICCI President Muhammad Ahmed Waheed said that due to lack of relevant laws, rents of businesses were very high in Islamabad which increased trade expenses as compared to other cities.
Addressing a meeting of ICCI District Municipal Administration Sub-Committee he said the trade licence fee for a certain business category was raised from Rs25,000 to Rs2.4 million per annum, and by thousand per cent for others.
ICCI Senior Vice President Tahir Abbasi and Vice President Saifur Rehman Khan said as per Local Government Act, any proposal to increase tax should be first advertised in the press and then public hearing was arranged to hear the objections of stakeholders. However, the IMC has not followed the procedure and raised the fee unilaterally, he claimed.
Published in The Express Tribune, February 25th, 2020.
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