KARACHI: Karachi Chamber of Commerce and Industry (KCCI) President Muffasar Atta Malik has requested the MPA Jam Khan Shoro to issue directives to Karachi Municipal Corporation (KMC) for immediate withdrawal of 20 per cent increase in shop rent of KMC owned markets announced last year which appeared in the Challans of January 2018.
In a letter issued to Jam Khan Shoro, KCCI president pointed out that hundreds of small traders/ shopkeepers whose business units and shops are situated in 91 markets owned by KMC approached KCCI’s Special Committee for Small Traders Chairman Abdul Majeed Memon so that the Karachi Chamber could take up this serious issue with concerned quarters as their shop rent has been raised exorbitantly.
KCCI president informed that in 2007, the then mayor of Karachi increased the shop rent by 50 per cent while the transfer fee was also enhanced from Rs5,000 to Rs25,000 and it was assured that the transfer fee and rent will not be increased further. However, KMC once again raised shops rent by 15 to 35 per cent in 2015 which was followed by another 20 per cent hike in 2017, making it impossible for majority of the shopkeepers to pay such an exorbitant rent.
Muffasar Malik, while requesting to withdraw 20 per cent increase in shop rent, suggested that the shop rent should only be increased by 5 per cent which should be applicable from January 2018 and this rent should be increased again by 5 per cent after an interval of at least 3 years.
