Ban on trade body elections lifted
Trade
The Ministry of Commerce has lifted the ban on holding annual general meetings (AGMs) and elections of various associations, groups, chambers, and foundations of businessmen and industrialists.
As a result, the organisations will be able to choose the future leaders in compliance with the health rules even in the Covid-19 situation.
Under the Trade Organisation Act, business organisations have to get a licence from the Ministry of Commerce.
The ministry had imposed a ban on AGMs and elections since 22 March in the wake of the coronavirus outbreak in the country.
Although the ban was valid until 31 December as per the earlier notice, it has been lifted from Monday. The ministry has advised the organisations to abide by hygiene rules during the AGMs and elections.
A commerce ministry official told The Business Standard that local government elections were also being held amid the novel coronavirus.
"In this situation, the decision has been taken considering that it is not logical to stop the election of the trade bodies with relatively fewer voters," he added.
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