ISLAMABAD, Dec 31: President Pervez Musharraf on Sunday promulgated the `trade organisations ordinance’ to regulate the working and registration of commercial organisations.

The ordinance stipulates that only those bodies would be eligible for registration as `chamber of commerce and industry’ that are operating all over the country.

The ordinance says licence would be granted to a trade organisation for three years.

“A trade organisation holding a licence shall be registered under the ordinance as a company with limited liability without the addition of the word `limited’ to its name and on such registration shall enjoy all the privileges of a limited company,” the ordinance said.—APP