Business community reiterates its demand for immediate promulgation of a balanced Rent Control Act

  • May 20, 2009
Though the arrested leaders of Islamabad traders have been released and the unrest been has settled temporarily, but to solve the issue on permanent basis and to avoid repetition of any unwanted event of the kind in future, government should take measures on priority to finalize document of a balanced Rent Control Act for its immediate approval and promulgation in Islamabad. This was observed by Shaban Khalid, Acting President, Islamabad Chamber of Commerce and Industry in a statement. He said this is a long overdue demand of the residents of Islamabad including business community representing both the players involved in Rent Control Act, the landlords and tenants both, which has now become a burning issue and needs urgent attention of concerned authorities for remedial measures.

Shaban Khalid said large number of public and private sector employees as well as small traders live in Islamabad as tenants since all these people don’t have their own houses. But due to non-promulgation of a balanced Rent Control Act, disputes between tenants and owners have been on the rise, which further necessitates the urgent enforcement of such law.

ICCI Acting President said trading community feels threatened about their future because the current Rent Control Act may not provide them due protection. Due to this situation, many traders had to lose their business when they were forced to evacuate their shops. An amicable solution should at least be available to tenants who pay their rent regularly. He said this state of affairs cannot be continued as it will badly affect business activities in the federal capital apart from causing more disputes between tenants and owners and may even result in more strikes and unrest as was witnessed recently.

In most developed nations, widows, pensioners and retired people depend on their rental income as their primary source of income and livelihood, but in our country this income sometimes becomes uncertain and creates problems for such segments of society, he opined.

He said the best cure of all these problems is the promulgation of a balanced law about rent. This will not only promote healthy relations between tenants and owners, it will also contribute for maintaining a peaceful and tension free environment in Islamabad, which is must for smooth promotion of business activities.