Govt to pass amended Rent Control Act bill soon: minister

Islamabad: Federal Minister for Commerce Muhammad Pervaiz Malik said that the government would pass the amended bill of rent control act for Islamabad into the law during its current tenure to resolve this long standing issue of the traders of federal capital.

He said that government was fully cognisant of the problems being faced by the local traders due to absence of rent control law and assured that the parliament would soon pass its draft bill into law to promulgate a balanced rent control law in Islamabad. He said this while addressing the business community at a dinner hosted by Sheikh Jamshed, president, Capital Traders Wing of PML(N).

Pervaiz Malik assured that FBR related issues of business community would also be addressed to facilitate the growth of business activities. He acknowledged that the country's exports have witnessed some decline, but reaffirmed that government was working on many initiatives to turn around the falling exports and further enhance them.

Mian Abdul Manan, MNA said that he has discussed the issue of rent control act with Barrister Zafarullah Khan, Special Assistant to the Prime Minister on Law and he has assured to present its bill in the next session of the National Assembly. He hoped that the bill would soon be passed into law that would help in redress of problems of traders and facilitate growth of business activities.

Speaking at the occasion, Sheikh Amir Waheed, president, Islamabad Chamber of Commerce and Industry said that with the consultation of all stakeholders, an amended bill of rent control act for Islamabad was prepared that was presented long time ago by Mian Abdul Manan in the National Assembly. However, delay in its enactment was creating frustrations in the trading community as they were feeling insecure due to absence of rent law. He stressed that governmentshould pass the bill into law without wasting further time so that traders could do business with a sense of security and peace.

He said Pakistan's exports have come down from $24 billion to $20 billion while the exports of regional countries including Bangladesh, Vietnam and India were going up and stressed that the government should address the key issues of exporters on priority to facilitate the revival of dwindling exports. Muhammad Naveed, senior vice president ICCI, Sheikh Jamshed President, Capital Traders Wing of PML(N) and others also spoke at the occasion.