Due to the absence of a balanced Rent Control Act in Islamabad, rising rent disputes between shopkeepers and owners are badly affecting business activities in the federal capital. To remedy this situation, government should immediately pass a legislation for promulgating a new Rent Control Act in Islamabad capital which should do justice to both parties.

This was observed by Zahid Maqbool, President, Islamabad Chamber of Commerce & Industry (ICCI) while addressing a large gathering of business community after inaugurating the Mishaal Banquet Hall in sector I-10/3, Islamabad.

He said ICCI has already sent its proposals to the local administration for enacting a balanced Rent Control Act and hoped that these proposals will soon be sent to Law Ministry.

He reiterated that ICCI will fully support every move for such an Act as its promulgation will go a long way in promoting smooth growth of business activities in Islamabad.

Zahid Maqbool informed the gathering that ICCI was also working with CDA for the establishment of a new industrial park in Sector I-17 as the existing industrial estates offer no more space for setting up new industries. He hoped that the development of new industrial park will promote further industrialization in the federal capital, ultimately leading to creation of more jobs and strengthening of economy.

Speaking on the occasion, Munawar Mughal, Chairman ICCI Founder Group said that opening of Mishaal Banquet Hall in I-10/3 will provide great facility to the people of this locality for holding marriage functions in a good environment at affordable cost.

He said ICCI was striving hard for addressing the problems of small traders and Chamber has given them 40 percent representation in its Executive Committee so that they could utilize this platform for resolving their issues. 

He urged upon the local government to solve the long-standing residential issue of small traders as due to being a costly city, small traders cannot afford to purchase land and build houses for themselves. He said government should allow  the construction of residential plazas in Islamabad for small traders so that they could fulfill their dream of having their own accommodation in the federal capital.