Immediate Governmental Measures to Insulate Pakistan’s Economy from Middle East Conflict Needed Atif Ikram Sheikh, President FPCCI

Karachi: Mr. Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce
& Industry (FPCCI), has requested the Director General of the Directorate General of Trade
Organizations (DGTO) at the Ministry of Commerce, Islamabad, for a 50% reduction in the fee
required for amending the Memorandum and Articles of Association for Women Chambers.

Mr. Atif Ikram Sheikh has urged immediate relief for these vital trade bodies representing
women-owned and run businesses across Pakistan – whereas, women account for 52% of the
total population of the country.

Mr. Atif Ikram Sheikh elaborated that the appeal comes in response to a recent notification that
fixed the fee for documentary amendments at PKR 100,000 across all trade bodies. FPCCI
clarified that the trade organizations are not initiating these changes voluntarily; rather, they are
revising their constitutional documents purely to comply and conform to the new regulatory
instructions issued by the DGTO.

Following the above announcement, FPCCI has been receiving numerous representations from
various Women Chambers of Commerce and Industry across Pakistan – all seeking financial
relief from the newly-prescribed fee.

Mr. Atif Ikram Sheikh explained that the apex trade body reminded the regulator that Women
Chambers generally operate with limited financial resources and modest revenue streams; which
are primarily dependent on membership subscriptions. Despite these financial constraints, these
chambers play a crucial role in promoting women entrepreneurship; facilitating capacity-building
and strengthening women-led businesses at both the grassroots and national levels. Therefore, a
special concession of a 50% fee reduction is essential to support these chambers under Schedule
‘E’ of the TOR 2013.

Mr. Saquib Fayyaz Magoon, SVP FPCCI, maintained that granting this 50% waiver will
significantly facilitate the Women Chambers in complying with regulatory requirements; while
allowing them to continue their pivotal role toward the empowerment of women entrepreneurs
and the enhancement of their broader economic participation.

SVP FPCCI added that the apex body firmly believes that this supportive measure will not only
strengthen the institutional development of Women Chambers; but, will also directly align with
the government's overarching vision of women empowerment and inclusive economic growth.

Brig Iftikhar Opel, SI (M), Retd.

Secretary General