January 20, 2006	Friday	Zilhaj 19, 1426

KARACHI, Jan 19: While expressing his doubts on the representative character of the trade bodies and the chambers in the country, Commerce Minister Humayun Akhtar Khan on Thursday hinted at the possibility of government framing a new law in place of Trade Organizations Ordinance 1961.

“I have every intention of reviewing the existing law and setting in place a new legislation to make trade bodies and chambers far more effective and representative”, the minister remarked while speaking on Thursday on occasion of the launching of the Centre for International Private Enterprise (CIPE) in Pakistan. The CIPE is a non-profit affiliate of the US Chamber of Commerce that has formally started operations in Pakistan.

“Many leading businessmen are disinterested in the trade bodies and the chambers,” he remarked and pointed out that a committee could review the existing law and suggest changes or new legislation.

The minister said that the Federation of Pakistan Chambers of Commerce and Industry, the apex trade body, was being given funds to set up research facilities and set up offices in foreign countries.

He endorsed the view expressed by CIPE Executive Director John D Sullivan that economic and political freedoms were closely intertwined. “Without a functioning market system, democracy will remain weak,” he remarked while stressing to build up market-oriented economy and the democratic institutions.

Humayun spoke of the economic reforms taken by the government in last six years which had brought stability in the system and set in place an level-playing field for all and an environment in which businessmen were comfortable.

Political reforms were now underway in Pakistan, and, the minister informed the audience that included the US Consul General in Karachi, a few US diplomats and businessmen, that the present parliament would complete its term and it had so far survived longest period compared to the previous legislatures in the country.

“We have held two Local Bodies elections and the next general elections would be held on schedule,” he said while emphasising that consistency and predictability were essential for the business decisions and for the businessmen to commit his money on long term basis.

Democracy, he said was taking roots in Pakistan and reminded his audience that democracy came in phases in many democratic countries of the world.

“Economic reforms in Pakistan have addressed many problems of the business and the trade bodies like the FPCCI and KCCI do not raise demands as these forums used to in the past,” the minister said. For example, he said that sales tax had been lifted from the export industries bringing much relief to the businessmen.

Nonetheless, business remains a challenge as he pointed out that foreign buyers of Pakistani products now demand social compliance and adherence to environmental and hygiene standards.

John D Sullivan in his speech said that the CIPE supported the business in building the market-oriented and democratic system. He identified four areas of work which included a partnership programme supporting grass-root networks in the developing countries, an award winning communication strategy, capacity building programmes and organizational and professional development through field offices.

APP adds: Earlier, US Consul General Mary H Witt, while delivering a speech of US Ambassador in Pakistan Ryan C Crocker on his behalf, said that the United States supported opening of CIPE office in Pakistan which was witnessing a robust growth and would become a regional centre for international business.

She said that efforts were made to further broaden US-Pak relations. This week a US delegation would visit Pakistan to discuss Bilateral Investment Treaty (BIT) with Pakistani officials so that Pakistan should depend less on aid and thrive for trade.

Similarly, another US delegation would visit Pakistan next week to boost trade relations with Pakistan by improving cargo transportation facilities under cargo container control programme, she added.

Another US delegation would visit Pakistan soon to discuss possibilities of starting PIA’s direct flight to USA. She hoped that this flight would start this year.

She lauded Pakistan’s efforts towards introduction of IPR laws and said that more steps were needed in this regard.

She also sought efforts from Pakistani banks to discourage money laundering.