ISLAMABAD -- The Islamabad Chamber of Commerce and Industry (ICCI) has lauded the government for arranging the passage of Islamabad Rent Restriction Ordinance (Amendment) Bill 2001 by the National Assembly Standing Committee on Interior.
The business community termed it a very positive development, as it will meet the longstanding demand of local traders for promulgation of a balanced rent control act in Islamabad.
Muhammad Ahmed Waheed, President, Tahir Abbasi, Senior Vice President and Saif ur Rahman Khan, Vice President, Islamabad Chamber of Commerce and Industry in joint statement on Monday said that the amended bill of rent law was also presented in the National Assembly by the PML-N and PPP governments, but was not passed by the NA Standing Committee on Interior.
They said that traders of Islamabad had been struggling for a balanced rent control act since 1984 and strikes were observed on this issue as well, but in vain.
However, they hoped that parliament would soon pass the amended rent control bill into law that would facilitate the growth of business activities.
Muhammad Ahmed Waheed said that amended bill envisaged a mediation council headed by president ICCI or his nominee as convener while a representative of tenant and landlord would be the members of this council. Every dispute between landlord and tenant under this act including dispute relating to goodwill shall be referred to the mediation council.