Malik Nadeem elected unopposed as President Chamber of Small Traders of Islamabad

Lahore: Malik Nadeem, a noted businessman of Islamabad has been elected unopposed as President Chamber of Small Traders of Islamabad.

Imran Bashir Abbasi has been elected as Senior Vice President, Tahir Satti has been elected as Vice President.

Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt, outgoing president of the chamber Kamran Abbasi, outgoing SVP Qazi Ilyas, former VP Ishfaq Abbasi and others were also present on the occasion.

Shahid Rasheed Butt paid tribute to the outgoing office bearers and hoped that they would continue to serve the business community. He also welcomed the new body and asked them to do their best to resolve the issues of the business community of Capital city.

Speaking on the occasion, Malik Nadeem said that he will try to fulfil aspirations of the business community. He lashed out banks for charging withholding tax from filers and non-filers alike which he termed illegal.

He said that central bank, commercial banks and an influential ministry has formed a triangle pushing all resources to the government and crowding out private sector which has chocked growth and dwindled exports.

Therefore, interest rate’s easing appears to have had a marginal impact on reviving economic activity, he noted.He questioned haste to hold exercise of selling bonds given that reserves were at a comfortable level.