Financial Updates

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Tuesday, April 22, 2014

Government assures traders to present bill of rent law in assembly for enactment

Mian Abdul Manan, Chairman, Standing Committee on Parliamentary Affairs of National Assembly has assured to present a public bill of rent control act for Islamabad in the national assembly for its enactment into a law. This was said by Khalid Chaudhry, Senior Vice President, Islamabad Chamber of Commerce & Industry and Secretary Information, Traders Action Committee, Islamabad while addressing a meeting of business community. He said it is difficult to get passed a private bill and it was agreed that the private rent control bill to be presented by Asad Umar, MNA of PTI would be merged with the public bill for its smooth passage.

Khalid Chaudhry said due to lack of a balanced rent law, local businessmen are facing many problems and hoped that the passage of new rent law would provide great relief to all stakeholders. He appealed to the Federal Minister for Interior that till the passage of new rent law from the parliament, all forced evictions should be stopped in the federal capital.

Speaking at the occasion, Ajmal Baloch, Central Organizing Secretary, Traders Action Committee said that the proposed bill has been prepared in consultation with all stakeholders and it envisages formation of a Reconciliation Committee for resolving out of court rent disputes. Before hearing of any rent dispute case by the court, the same would be referred to Reconciliation Committee that would give its recommendation within 30 days. The representatives of landlord, tenant and market union (if required) will be included in the Committee to settle rent disputes. He hoped that the new rent law would lead to better relations between landlords and tenants.

Ch. Muhammad Saeed, Sarfraz Mughal, Amir Jamil Abbasi, Ahmed Khan, Mian Khalid Mehmood, Ch. Abdul Ghaffar, Nisar Langah, Aslam Khan and other traders leaders also spoke at the occasion.

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