Islamabad

Govt urged to lower rent registration fees

Say it will encourage landlords, tenants to register

Our Correspondent October 22, 2020

Traders say cantonment board approving commercial plazas without parking facilities. PHOTO: EXPRESS

ISLAMABAD:

Traders in the federal capital, while welcoming the passage of amendments to the rent control law for the city, have urged the government to lower the fees charged by the government to register rental agreements.

This was urged in a statement by Islamabad Chamber of Commerce and Industry (ICCI) President Sardar Yasir Khan as he addressed other traders of the city including All Pakistan Anjuman-e-Tajiran President Ajmal Baloch and Traders Action Committee Secretary Khalid Chaudhry at the ICCI’s office.

Yasir hailed the cooperation and support of lawmakers on both sides of the aisle in the National Assembly to pass the Rent Restrictions (Amendment) Bill 2020, to address the longstanding and burning issue of the traders of the federal capital.

He added that under the amendment, the formation of a mediation council has been envisaged. The council, he said, will consist of the ICCI chief or his nominee as the convener, a representative of the tenant and landlord each as members for out-of-court settlement of rent disputes amicably.

However, he said that the current set up means that whenever they are formed the councils will not be able to do much. At the moment, he said that the government charges five per cent of the total annual rent as fees for registering lease agreements. As a result, many tenants and landlords are not keen to register tenancy.

To encourage people to register, and for the council to play an effective role, he stressed that the government should reduce the registration fees to one or two per cent.

He hoped that this landmark legislation will help address the concerns of traders and enable them to promote trade activities with peace of mind.

Ejaz Abbasi, the former president ICCI, said that for the past 40 years, traders of the federal capital have been demanding the promulgation of a balanced rent control act in the city and said that the current government has done a great favour to them by meeting their demands. He hoped that the Senate will also pass this bill soon.

Published in The Express Tribune, October 22^nd, 2020.