KARACHI: The Members of United Business Group and Trade Bodies across Pakistan have hailed the decision of the National Assembly Standing Committee on Commerce scrapping the relevant clause of the amendment in the Trade Organisation Act 2013 pertaining to commencement of tenure of the elected office bearers of chambers and trade associations approved during the last joint session of parliament. The decision is sign of great relief to genuine trade bodies.

The session of National Assembly Standing Committee was presided over by Khursheed Ahmed Junejo approved an amendment to the Trade Organisation Act (amended bill) 2022(Government Bill) moved by Aslam Bhotani to increase the tenure of office bearers of FPCCI and other trade bodies to two years, from one year, to be effective from 1 January 2023 which implies affectivity of amendment will be prospective.

Copyright Business Recorder, 2022