Islamabad Chamber Of Commerce & Industry Calls For Urgent Promulgation Of New Rent Control Law In Islamabad

Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry has called upon the government to arrange the passage of amended bill of new rent law from parliament for early promulgation of a balanced rent control act in Islamabad in order to resolve the longstanding issue of local traders

ISLAMABAD (UrduPoint / Pakistan Point News / NNI - 25th March, 2019) Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry has called upon the government to arrange the passage of amended bill of new rent law from parliament for early promulgation of a balanced rent control act in Islamabad in order to resolve the longstanding issue of local traders.He said this while addressing a meeting of local traders leaders at Chamber House on Monday.Ahmed Hassan Moughal said that trading community had been demanding for the promulgation of a balanced rent control law in Islamabad for the last 30 years, but their demand has not been met as yet due to which they were feeling frustration.He said that in consultation with all stakeholders, an amended bill of rent control act was prepared which was lying pending with a standing committee of parliament since the tenure of previous government.

He said that the amended bill had proposed a Reconciliation Committee to resolve rent disputes out of court. He said every tenant should be given the right of appeal of new rent law to meet the needs of justice.ICCI President said that Asad Umer, Federal Finance Minister during his election campaign had assured the local traders that if PTI was voted to power, it would arrange the passage of new rent law for Islamabad from parliament.

He stressed that Asad Umer should now honor his assurance to settle this long overdue issue of traders.He said that ICCI would organize a Traders Convention on 28th March 2019 to discuss the rent control law and Finance Minister Asad Umar would be the Chief Guest at the occasion.

Moreover, Shehryar Afridi State Minister for Interior, Prime Minister's Special Assistant on CDA Affairs Ali Nawaz Awan and Member National Assembly & Chairman Standing Committee on Interior Raja Khurram Shehzad Nawaz would also be present at the occasion.

The representatives of Market Associations of local markets would also be present in the traders convention.Ahmed Hassan Moughal said that traders were feeling insecure in the absence of new rent law while many shops have been got vacated forcefully.

He urged that government should arrange the passage of amended rent bill from parliament without any further delay so that traders could focus on promoting business activities with peace of mind. NNI