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ICCI hails approval of amended rent act bill by NA Standing Committee

Date: November 4, 2019 Author: Web Desk Category: General General Business News Tags: Short URL Comments: 0

Islamabad, November 04, 2019 (PPI-OT): The Islamabad Chamber of Commerce and Industry (ICCI) has hailed the government for arranging the passage of Islamabad Rent Restriction Ordinance (Amendment) Bill 2001 by the National Assembly Standing Committee on Interior and 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 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 by reasons best known to them. 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. He hoped that the mediation council shall be an effective forum to address the concerns of traders by resolving disputes between tenants and landlords.

ICCI President said that Asad Umar, MNA from Islamabad during his election campaign had assured the local traders that if voted to power, PTI government would arrange the passage of new rent law from the parliament and thanked him for introducing the bill in the national assembly. He also thanked all the members of the NA Standing Committee on Interior for passing the bill with consensus as it was the decades old demand of the traders, which would hopefully be met soon.

The amended bill entails that every agreement between a landlord and a tenant shall be presented before a controller for record keeping. The controller before proceeding with a case shall refer it to the mediation council. In case of no settlement, the controller shall proceed with the case and in case of settlement, the order passed by the controller in accordance with the decision of the mediation council shall be considered final.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1, Islamabad, Pakistan
Tel: +92-51-2250526, 2253145, 8432676
Fax: +92-51-2252950
Email: icci@brain.net.pk, info@icci.com.pk
Website: www.icci.com.pk