Punjab chambers oppose Trade Act changes

LAHORE: Punjab’s Chambers of Commerce and Industry, along with trade and industrial associations, have unanimously rejected recent amendments to the Trade Organisations Act 2013, calling them unacceptable.

During a convention held at the Lahore Chamber of Commerce and Industry (LCCI), they urged the government to withdraw the changes immediately. The meeting was addressed by LCCI President Mian Abuzar Shad, alongside office-bearers and representatives from various chambers and associations across Punjab and other regions.

A joint declaration issued at the convention demanded that the government revoke the amendments and engage in consultations with the business community. According to the declaration, all participants categorically rejected the amendments, warning that if the government proceeds with enforcing elections in 2025 under the revised law, trade bodies will shut down, and their keys will be handed over to the government in protest.

To coordinate further action, an Action Committee has been formed under the leadership of former FPCCI president Mian Anjum Nisar. The committee includes presidents and representatives of various chambers and associations who will engage with the government and formulate a strategy moving forward.

Business leaders criticised the decision to conduct re-elections under the controversial amendments, calling it a waste of time and resources. They also expressed concerns over the excessive increase in regulatory powers, arguing that it would undermine the autonomy and efficiency of trade bodies. Stressed that government institutions should focus on facilitating a business-friendly environment rather than imposing unnecessary obstacles. They emphasised that transparency and consultation should be the guiding principles of any legislation to ensure it benefits all stakeholders.

They further stated that bureaucratic interference in policymaking should be minimised and that policies must align with the real needs of the business community. They urged the government to involve business organisations, chambers, and relevant associations in the legislative process to ensure their perspectives are considered. The participants warned that granting excessive powers to bureaucrats would be detrimental to industry, trade and the overall economy.