Chapter – 19
Chamber of Commerce
Introduction
Chamber of commerce and industry is a
voluntary non-trading association of persons who are directly or indirectly
connected with commerce and industry. Its purpose is to promote trade and
business and protect the business interest of its members. Thus, only the
businessmen, industrialists, bankers and professional men like accountants,
auditors are entitled to be members of the Chamber of Commerce. The Chamber of
Commerce is organized on regional basis. The businessmen of a particular area
form such organization e.g. Karachi Chamber of Commerce, Lahore Chamber of
Commerce, Peshawar Chamber of Commerce.
Chamber of Commerce may be formed
under Companies Ordinance as a Joint Stock Company or under Trade Union Act.
Usually, the liability of the members is limited by guarantee. The members pay
an annual fee to the Chamber of Commerce. Generally Chamber of Commerce and
Industry is governed by a board of directors and a president. The board
appoints a secretary who is responsible for discharging all the work of the
organization. He formulates the program, holds the meeting and manages the
office.
Functions of
Chamber of Commerce
1. It helps to develop trade and
industry of a country and looks after and
protects their interest.
2. It collects all sorts of
information concerning commerce and industry and maintains numerous records
which are necessary in connection therein.
3. It issues reports and Journals at regular intervals full of information regarding commerce and industry for its own members as well as for the general public.
3. It issues reports and Journals at regular intervals full of information regarding commerce and industry for its own members as well as for the general public.
4. Advisory services on labor
practices and disputes are provided.
5. It helps the members in recovering debts.
5. It helps the members in recovering debts.
6. It provides trade reference
information about financial status of its members.
7. It protects trademarks and patterns and thereby encourages the cause of national commerce and industry.
7. It protects trademarks and patterns and thereby encourages the cause of national commerce and industry.
8. It acts as arbitrator in case
there is any dispute between businessmen.
9. It helps the exporters and importers by furnishing information of various natures in connection with import and export.
10. It issues export certificate and certificates of origin which are very common instruments in international commerce.
11. It advances commercial and technical education in the country.
12. Nowadays, an active part is played by the Chamber in influencing economic policy of the government. It examines the budget every year and suggests appropriated modification in the tax proposals.
9. It helps the exporters and importers by furnishing information of various natures in connection with import and export.
10. It issues export certificate and certificates of origin which are very common instruments in international commerce.
11. It advances commercial and technical education in the country.
12. Nowadays, an active part is played by the Chamber in influencing economic policy of the government. It examines the budget every year and suggests appropriated modification in the tax proposals.
13. It invites the attention of the
government and public on matters affecting trade, commerce and industry of the
country.
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