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Al-Ahram Weekly 16 - 22 December 1999 Issue No. 460 
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Published in Cairo by AL-AHRAM established in 1875 |
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Al-Ahram Weekly 16 - 22 December 1999 Issue No. 460
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| Published in Cairo by AL-AHRAM established in 1875 |
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Egypt Region International Economy Opinion Culture Debate Focus Profile Living Travel Sports People Time Out Chronicles Cartoons Letters Chambers seek greater autonomy
By Mona El-FiqiBoard members of the Federation of Chambers of Commerce met this week to discuss a draft law intended to revitalise their activities before presenting it to the Ministry of Supply and Internal Trade. Conditional on being approved by the ministry, the law will be submitted to the People's Assembly.
During the meeting, members of 26 chambers of commerce, representing three million traders and businessmen, were unanimous in the belief that the current law no.189/1951 should be amended.
Mahmoud El-Arabi, chairman of the Federation of Chambers of Commerce said that board members had been commissioned by the minister of Supply and Internal Trade to prepare a draft law as soon as possible.
During their meeting, board members agreed to retain several articles in the current legislation, but to change outmoded articles. The current law, for instance, deprives women from voting, which is patently at odds with the constitution. The new draft law will allow women the right to participate in chamber elections, which in future will be subject to judicial supervision.
The draft law, reportedly, contains 14 new articles.
Most chambers face budgetary constraints on their activities given low annual fees, currently set at LE2. The draft law raises fees to 0.002 per cent of the trader's capital with a minimum of LE12 and a maximum of LE2,000.
The draft law will also set quotas on board members -- no more than 25 per cent will in future be appointed by the Ministry of Supply and Internal Trade as opposed to 50 per cent at present. The remaining board members will be elected by the chamber's members. And in order to create stability in chambers' polices, the draft law extends the board session to five years instead of four. And while, according to the draft law, it will be prohibited to replace boards without the approval of the minister of Supply and Internal Trade, the new law will give chambers the right to spend money without first gaining ministerial approval.
A social fund will also be formed to provide financial assistance to traders and businessmen in trouble. A health insurance system for traders has also been included in the new draft law.
Earlier this year four members of the Cairo Chamber of Commerce who are also MP's submitted a paper including some amendments to the chambers law. Discussion of the paper was postponed at the time but according to Mamdouh Thabet Mekki, deputy chairman of Cairo Chamber of Commerce and one of the MPs concerned, the paper will be resubmitted to the Peoples Assembly this session. "Parliament," he said, "has the right to approve the federation's draft law or ours".
To further complicate the picture a third draft law was prepared by the Ministry of Supply and Internal Trade before the cabinet reshuffle.
