Hike in trade license fee would badly affect small businesses: ICCI

F.P. Report

Islamabad: President, Islamabad Chamber of Commerce and Industry (ICCI) , Muhammad Ahmed Waheed said that due to multiple factors, conditions for businesses were not conducive while high inflation has eroded the purchasing power of consumers.

In these circumstances, Metropolitan Corporation Islamabad (MCI) has made massive hike in trade license fee for small businesses that was highly unjustified and would badly affect their survival.

He stressed upon the government to issue orders for immediate withdrawal of increase in trade license fee by MCI to save small businesses from further troubles.

 He said this while addressing a meeting of ICCI District Municipal Administration Sub-Committee.

He said that due to absence of rent control act in Islamabad, rents of businesses were very high in Islamabad while other expenses of businessmen were also quite high as compared to other cities.

He said that trade license fee for a certain business category was raised from Rs.25000 to Rs.2.4 million per annum, which was totally irrational and illogical.

He said that fee for other businesses was also raised by thousands percent which was not affordable for them and stressed that MCI should immediately withdraw massive hike in said fee.

President ICCI said that as per local government act, any proposal to increase tax was first advertised in press and public hearing was arranged to hear the objections of stakeholders. However, MCI has not followed this procedure and raised the fee unilaterally.