Global businesses are fast shifting to South Asia and Pakistan could survive in this changing environment only by virtue of its vibrant, dynamic, well regulated and fully compliant Chambers of Commerce & Industries (CCIs) and Trade Organizations (TOs), said Dr Waqar Ahmad Shah, Regulator Directorate General Trade Organizations (DGTO).
Addressing the Third DGTO Consultative Session on Capacity building of Secretary Generals and Office Bearers of Trade organizations in Faisalabad Chamber of Commerce & Industry (FCCI) here Tuesday, he said that under a comprehensive monitoring and evaluation system, licenses of the fake, bogus and non-active TOs were being cancelled while fully compliant TOs would be encouraged to further improve their performance.
He underlined the importance of private sector and said the DGTO covers three main sectors of trade, commerce and services through which we could further strengthen our economy. He said licenses are being issued to different sector specific TOs enabling them to serve the legitimate interest of their members within the overall framework of Trade Organizations Act 2013.
Regarding this consultative session, he said its objectives are to give awareness about the fundamental objectives, licensing regulations and mandatory compliances etc. by TOs. He said that at present, there are about 230 licensed CCIs and other Trade Organizations, out of which only 30% are complying with the said rules and regulations. He further said that the role of SGs in managing the affairs of TOs is of prime importance as he is directly answerable to the Ministry.
He clarified that no elected office bearers could be allowed to run these organizations in accordance with their own whims and wishes. He said there is only one central office of DGTO in Islamabad. However, he is of the opinion that there should be regional offices at Karachi, Lahore and Faisalabad where there is concentration of licensed TOs. "These regional offices will help us for the effective monitoring of TOs of that particular area", he added.
He said government is considering a proposal to bring amendment in the existing TO Act and concerned stakeholders should give viable proposals in this regard. He said that according to him, the tenure of elected presidents is less which should be enhanced so that he could comfortably accomplish his agenda. "Similarly, the matter of fees also requires immediate amendment in the TO Act", he added.
Lauding the role of FCCI, he said the economy of Pakistan could flourish expeditiously if there were only 10 active Chambers like FCCI. He said FCCI has been nominated as the Coordinating Trade Organization (CTO) so that TOs could learn and improve their performance by stepping into its foot.
He said Secretary General FCCI Abid Masood will be requested to give lectures in the next consultative meeting so that he could share his experience with SGs of other Chambers. He was also appreciative of the FCCI that has formulated its own by-laws relating to Human Resource, Conduct Election and other issues within the parameters of the TO Act.
He mentioned that APTMA has not complied with the mandatory laws for the last seven years and hence action has been initiated against it. He said that National Assembly and Senate Committees on Commerce have directed him to compile comprehensive proposals to further improve the working of TOs so that these could play a pro-active role in the regional markets. He said that Ministry of Commerce has launched 'Look Africa' campaign with an objective to explore this untapped and potential market.
He asked FCCI to select one country where it could strengthen its trade with the help of Commerce Ministry. He said that a national level conference would also be arranged after these consultative sessions to reactivate TOs and exploit their potentialities to strengthen the national economy.
Shabbir Hussain Chawla, President FCCI gave a briefing about the FCCI and said it has 6,000 members within its fold while it has 100 standing committees that are trying to resolve their sector specific problems. He said FCCI is contributing 25% share in national exports and employment generation. "Similarly, in textile exports, it is contributing 55% share," he added.
He said Research and Development Section of FCCI has published four study reports on various topics of national and international importance which are being appreciated all over the country. During Question Answer Session Khalid Habib of APTPMA, Mian Aftab Ahmad, Abid Masood, Shafiq of PRMGMEA made interesting queries while Dr Waqar Shah and Shafiq gave presentation about their respective organizations.
Later offering vote of thanks, Mian Javed Iqbal former president FCCI stressed the need for digitalizing of the entire system of DGTO. He said there should be a specific portal and all licensed organizations should be directed to upload its mandatory compliances through this electronic portal.
He said that before issuing licences to any Chamber or TO, an advertisement in national newspaper must be published as it will discourage more than one organization in same sector. He appreciated regulatory system of SBP and said that due to its strict and prudent regulations, the Letter of Credit of Pakistan's Banks are honoured anywhere in the world.
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