KARACHI: Saquib Fayyaz Magoon, the Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Chairman of BMP-Progressive (BMPP), has voiced significant concerns over proposed amendments to the Trade Organization Rules (TORs) 2013. He highlighted that such changes, currently being discussed in the National Assembly's Standing Committee on Commerce, could potentially lead to the closure of many representative trade bodies across Pakistan.
According to Federation of Pakistan Chambers of Commerce and Industry, Magoon emphasized that the proposed amendments have stirred uncertainty within the business community during a time when the economic climate is already challenging due to various domestic and international factors. He pointed out that Chambers of Commerce and Industry are vital platforms for businesses to voice concerns and engage in policy advocacy.
Magoon expressed apprehension that confining trade bodies to municipal city limits would exclude key industrial estates, SME clusters in tehsils, and rural export-oriented businesses from adequate representation. He argued that such changes could dismantle district chambers, undermine institutional development, and negatively impact local economies, particularly affecting women entrepreneurs and small and medium-sized enterprises.
He urged lawmakers to reconsider the proposed amendments to ensure the preservation of district chambers, which he described as crucial to supporting grassroots economic activity.
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