Hanif Lakhani, former Vice President of FPCCI, former Senior Vice President of KCCI, and former Chairman of Pakistan Yarn Merchants Association (PYMA), has demanded that the government retain the two-year term for chambers, associations, and all trade bodies. This is in response to the amendments made to the Trade Act, which have been unanimously rejected by all trade associations across the country, including chambers of commerce, import and export associations, and small and women chambers of commerce.

Hanif Lakhani stated that the term for elected bodies was two years after the regular act’s approval, which the Senate of Pakistan also approved. However, this term has now been reduced to one year, which he believes is a direct disrespect to the mandate of the business community. He emphasized that chambers and associations should retain the two-year term given to them by the traders to fulfill their assigned mandate.

Lakhani further pointed out that holding elections in trade institutions is not easy and urged the government to reconsider its decision. He added that chamber officials should remain on two-year terms, as per the mandate given to them. All officers of the chambers and trade associations were assigned a two-year mandate, and the amendment is unacceptable. The business community will not accept this newly imposed law.