The future of trade bodies hang in balance due to inordinate delay in the announcement of rules governing their future set-up as enunciated under the Trade Organisations Ordinance (TOO) - 2006.
TOO-2006, which came into force from January 1, 2007, had revoked all the licenses granted under section three of TOO-1961 to trade organisations and required them to apply for grant of licence under the new Ordinance within 90 days of its coming into force.
Majyd Aziz, President, Karachi Chamber of Commerce and Industry (KCCI) told Business Recorder here on Monday that he had talked to Commerce Minister, Humayun Akhtar Khan last week on the subject who had assured him that rules governing the trade bodies would be announced shortly. Following the announcement of rules, he would convene a meeting to solicit views of stakeholders and, if necessary make adjustments to make them workable.
President, KCCI thought, it might not be possible for the government functionaries to complete the lengthy procedure involved in verifying the new applications for licences and grant of license within three months as stipulated in the Ordinance. In his opinion it might not be possible until August this year that decision on applications are taken. This would take the trade bodies, except Federation of Pakistan Chambers of Commerce and Industry (FPCCI), close to their annual elections, which are held in September every year.
In the case of pending decisions on the grant of fresh license, the existing trade bodies would continue to function for six months. Similarly, he said that the Director General, Trade Organisations as required under TOO-2006 had not yet been appointed. Appointment of required staff and completion of other formalities might also take some time before government is ready to ensure implementation of the Ordinance, he said.
He suggested that the President/Chairman and office-bearers of trade bodies are elected directly by the general body and the managing committee members are elected for two years. Similarly, he opposed the provision of separate chamber for women. This would amount to "Burquanisation" of trade organisations, he said.
FPCCI office-bearers are also confronted with an uncertain situation about their future and the modalities, which may be required to follow. But one thing appears certain that the term of office of the President and other office-bearers would be reduced from two to one years. In all probability elections would be held to elect the new office-bearers of FPCCI sometime late this year.