Trade Organisation (Amend) Law 2022: Trade bodies office-bearers terms extended to two years

KARACHI: President Dr Arif Alvi on Wednesday signed the Trade Organisation (Amendment) Bill 2022 into law, extending the term of office of office-bearers of all the trade organisations and chambers, including the FPCCI, to two years.

After the approval accorded by the National Assembly and Senate, President Alvi signed the amended bill, making it enforceable in the country. In addition, after the amendment, the terms of office-bearers of all trade orgnisations and chambers, including the FPCCI, has been increased to two years.

Following the signing of the bill, Irfan Iqbal Shaikh will remain as FPCCI president till the end of 2023. It should be noted that the FPCCI office-bearers had been making efforts for the amendment to the bill since 2014, because according to them, one-year period of office-bearers was insufficient in connection with implementation of any policy.

FPCCI’s Vice President Shabbir Hassan Mansha, welcoming the bill, said that this is a gift given by the government to the business community, adding that the decision would facilitate the implementation of policies.

Replying to a question, he said that those in the government and majority in the opposition supported the bill, but some elements opposed the bill on political grounds. He further said the incumbent office-bearers would complete their tenure till December 2023.

According to sources, President Dr Arif Alvi signed the amendment to the bill on Tuesday (November 1) and sent its copy to the PM House, while the commerce ministry also received the bill’s copy.