Karachi: Mr. Atested the Director General of the Directorate General of Trade Organizations (DGTO) at the Ministry of Commerce, Islamabad, for a 50if Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has requ% reduction in the fee required for amending the Memorandum and Articles of Association for Women Chambers.
Mr. Atif Ikram Sheikh has urged immediate relief for these vital trade bodies representing women-owned and run businesses across Pakistan – whereas, women account for 52% of the total population of the country.
Mr. Atif Ikram Sheikh elaborated that the appeal comes in response to a recent notification that fixed the fee for documentary amendments at PKR 100,000 across all trade bodies. FPCCI clarified that the trade organizations are not initiating these changes voluntarily; rather, they are revising their constitutional documents purely to comply and conform to the new regulatory instructions issued by the DGTO.
Following the above announcement, FPCCI has been receiving numerous representations from various Women Chambers of Commerce and Industry across Pakistan – all seeking financial relief from the newly-prescribed fee.
Mr. Atif Ikram Sheikh explained that the apex trade body reminded the regulator that Women Chambers generally operate with limited financial resources and modest revenue streams; which are primarily dependent on membership subscriptions. Despite these financial constraints, these chambers play a crucial role in promoting women entrepreneurship; facilitating capacity-building and strengthening women-led businesses at both the grassroots and national levels. Therefore, a special concession of a 50% fee reduction is essential to support these chambers under Schedule ‘E’ of the TOR 2013.
Mr. Saquib Fayyaz Magoon, SVP FPCCI, maintained that granting this 50% waiver will significantly facilitate the Women Chambers in complying with regulatory requirements; while allowing them to continue their pivotal role toward the empowerment of women entrepreneurs and the enhancement of their broader economic participation.
SVP FPCCI added that the apex body firmly believes that this supportive measure will not only strengthen the institutional development of Women Chambers; but, will also directly align with the government’s overarching vision of women empowerment and inclusive economic growth.
