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  • Ghais Khan elected OICCI president

    Ghais Khan elected OICCI president

    KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has elected Ghais Khan as president for the term 2022.

    Ghias Khan is President & Chief Executive Officer, Engro Corporation Limited.

    The election of Ghais Khan announced at the 162nd Annual General Meeting of the OICCI held at the Chamber on Monday. Amir Rasool Paracha, Chairman & Chief Executive Officer, Unilever Pakistan Limited, was elected as the Vice President.

    The other elected members of the OICCI Managing Committee for 2022 are included: Ahmed Zahid Zaheer, Chevron Pakistan Lubricants (Pvt) Limited; Ali Ahmed Khan, FriesLandCampina Engro Pakistan Limited; Erum Shakir Rahim, GhaxoSmithKline Pakistan Limited; Ali Asghar Jamali, Indus Motor Company Limited; Samer Chedid, Nestle Pakistan Limited; Waqar Irshad Siddiqui, Shell Pakistan Limited; Markus Strohmeier, Siemens Pakistan Engineering Company Limited; and Rehan Muhammad Shaikh, Standard Chartered Bank (Pakistan) Limited.

    In his message to the members, Incoming President Ghias Khan said he strongly believes that Pakistan offers considerable growth potential for existing and new foreign investors.

    He lauded OICCI’s role in promoting Pakistan to potential foreign investors. He further appreciated the quality of OICCI Business surveys and the Chamber’s focused and continuing advocacy efforts for streamlining the taxation system, pragmatic policy input for increasing the efficiency of energy sector, initiatives on women empowerment, gender equality, climate and sustainability, and the Chamber’s role in pursuing an effective Intellectual Property Rights regime in Pakistan.

    Ghias Khan holds an MBA from the Institute of Business Administration, Karachi and also serves as Chairman on the Boards of Engro Fertilizers Limited, Engro Polymer & Chemicals Limited, Engro Enfrashare (Pvt) Limited, and Engro Energy Limited.

  • PM appealed restoring gas to Karachi industrial zones

    PM appealed restoring gas to Karachi industrial zones

    KARACHI: The business leaders of industrial zones of Karachi have appealed Prime Minister Imran Khan to restore gas supply to all industries.

    While fervently appealing Prime Minister Imran Khan and his aides to immediately restore gas supply to all industrial zones of Karachi whose gas supply remains suspended since last more than 100 days, Chairman Businessmen Group (BMG) Zubair Motiwala, Vice Chairman BMG & Chairman Pakistan Apparel Forum Jawed Bilwani and President Karachi Chamber Muhammad Idrees have stressed that the federal government must save its repute by putting an end to the discriminatory treatment being suffered by this city since long which has not only aggravated miseries for the business community and the Karachiites but has also dented the government’s efforts to ensure ease of doing business.

    READ MORE: KCCI holds awareness seminar on Pakistan Single Window

    Addressing a presser at Karachi Chamber of Commerce & Industry (KCCI) on Monday, Business Leaders urged that in order to revive the industrial activities, Sindh’s gas has to be returned to the province as it was highly unfair to keep the industries of Karachi deprived of Sindh’s own gas resources. They said that the industries of Karachi were deeply shocked and totally disappointed with the Government for neglecting and ignoring the repeated appeals and press releases over looming gas/ RLNG crises and remains indecisive in the burning matter for the last more than 100 days.

    General Secretary BMG AQ Khalil, Senior Vice President Abdul Rehman Naqi, Vice President Qazi Zahid Hussain along with President Site Association of Industry Abdul Rasheed, President Federal B. Area of Trade & Industry Haroon Shamsi, President Korangi Association of Trade & Industry Salman Aslam, Representative of Landhi Association of Trade & Industry Ajmal Afzal, President North Karachi Association of Trade & Industry Faisal Moiz, President Bin Qasim Association of Trade & Industry Elahi Buksh and President Site Superhighway Association of Industry Aamir Hassan Lari attended the presser. From Value-Added Textile Associations, Zonal Chairman Pakistan Hosiery Manufacturers & Exporters Association (PHMA) Abdul Rehman, Chairman Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) Sheikh Shafiq Jhok Wala, Chairman Pakistan Knitwear & Sweaters Manufacturers & Exporters Association Kamran Chandna, Chairman Pakistan Cotton Fashion Apparel Manufacturers & Exporters Association Aitazaz Ahmed Japanwala,  Chairman Towel Manufacturers Association Kashif Mehtab Chawla, Chairman Pakistan Bedwear Exporters Association Asif Javed & Chairman Pakistan Denim Manufacturer & Exporters Association Asif Riaz Tata also participated.

    READ MORE: KCCI urges SBP to restore PKR at Rs150 to dollar

    Chairman BMG Zubair Motiwala said that the Government’s promises and commitments to assure supply of gas to export industries appear to be an eyewash and a mere lip-service. It was highly unfair to deprive Karachi from Gas/ RLNG as this city, being the textile and industrial hub of Pakistan, alone contributes 68 percent revenue to the national exchequer and 54 percent to national exports while 52 percent of textile exports also take place from Karachi.

    “Yet this matchless contribution is not being taken into consideration and Karachi continues to undergo discrimination that has led to causing severe production losses of more than 66 percent due to reduced or no supply of gas. The inequitable conduct and discriminatory treatment with Karachi were totally unconstitutional hence intolerable and highly deplorable”, he said while fearing that the discriminatory actions/ policy towards Karachi will not only cause the industry to cripple but would also tarnish the vision of Prime Minister.

    Chairman BMG further stated that the rising demand for gas in Baluchistan during winter season was being fulfilled by SSGCL alone which receives 125mmcfd gas from Sui whereas SNGPL, which takes away 180mmcfd from Sui, stands completely spared from sharing the burden of rising gas demand in Baluchistan which was beyond anyone’s understanding. “We firmly believe that the rising demand for gas in Baluchistan has to be meted out by SSGCL and SNGPL as per ratio of gas being received by them which means that the extra demand of 160mmcfd in Baluchistan during winter should be rationally divided with 41 percent (65mmcfd) burden on SSGCL and the remaining 59 percent (95mmcfd) must be borne by SNGPL.”  

    READ MORE: KCCI flays restoration of IR officers bank freezing powers

    Zubair Motiwala stressed that a quantum of 211mmcfd gas, which was erroneously allocated to SNGPL in the past and the same has also been recognized by SAPM Gas and DG Gas, needs to be immediately returned to SSGCL. “Last year, the industry of Karachi entered into an agreement with the Ministry of Energy and Ministry Commerce to purchase extra quantum of gas at higher price for a period of five months to match the demand. However, we were denied of the same this year due to lack of planning.”

    Chairman Pakistan Apparel Forum Jawed Bilwani mentioned that Prime Minister’s excellent policy pertaining to Long Term Financing Facility (LTFF) encouraged industrialists to invest more than US$3 billion on purchase of machineries/ equipment which was likely to promote industrialization but this policy will be wasted due to unavailability and unjustified distribution of gas.

    READ MORE: KCCI expresses grief over human loss in earthquake

    Bilwani said that the Value-Added Textile Export Industries were saddened over such unwelcoming act and behavior of the Federal Government. Surprisingly, Government is well aware that the downfall in exports will also result into downward revision in the national revenue and will also negatively impact the foreign exchange coming to Pakistan where the national exports will ultimately face sharp decline, nevertheless, no response and continuous silence of the Government is not understood?

    He said that repeated appeals in the print media without any response from the Government has also tarnished the soft and positive image of Pakistan in the eyes of international community around the globe and has also raised several questions in the Diplomatic Missions of friendly countries in Pakistan whereby the Ambassadors and diplomats in Islamabad and Karachi have been continuously observing the situation and they may send their advisories to the buyers of their countries which may result to disruption or discontinuation of existing and new export orders.

    Addressing the presser, President KCCI Muhammad Idrees opined that instead of pursuing the pick & choose strategy, gas has to be supplied without any differentiation to all the industries including General, SMEs and export-oriented industries as they all go hand-in-hand. The government has to realize that the general industries were an integral part of the value chain for exports which drive the economy.

    He was of the view that neglect and disregard of repeated appeals of the industries of Karachi has also depicted a dark picture of Pakistan in the eyes of international community as the sitting Government which claims to be business and export friendly, has thus far not yet showed any concern towards the industrial slowdown and shattered export production in Karachi.

    BMG and KCCI Leadership along with Presidents of all other Trade Associations informed that the industries of Karachi were also being victimized and denied of other alternate fuels like Furnace Oil as the Department of Explosives, Petroleum Division was also not granting the required license to export industries which they applied for around two months ago. Production of export industries has come to a complete halt as they have no other alternate energy or power connection/ source.

    They said that empty Containers and Vessels to dispatch export shipments to various destinations worldwide were also not easily available due to ill-planning of the Government as the empty containers have been exported, reportedly, throughout last year, in huge quantities and mother vessels were also not coming to Pakistan. Such neglect on part of the Government was highly deplorable and the valuable struggle and hard efforts of exporters, encompassing over decades, to enhance exports will end in smokes and their new investments for further industrialization will be sabotaged, they added and asked, why should the industries of Karachi suffer on the cost of maladministration and nasty planning of non-serious elements in the Government who were responsible for the ongoing gas crises.

    The Industrialists also deplored the misleading contents of appeal of APTMA North Zone published on January 29 wherein the Spinners’ Association has attempted to misinform the Government mentioning that the industries in Sindh were getting required pressure to operate in contravention to the appeals given by APTMA South Zone.

    In the national interest, Zubair Motiwala, Jawed Bilwani, Muhammad Idrees and all Presidents of Trade Associations appealed Prime Minister Imran Khan to take immediate cognizance of the situation and urgently respond to the Constitutional Right of the business community of Karachi to save the investment of industrialists and protect the soft and positive image of Pakistan globally, otherwise, if such alarming situation prevails, the country may face unrest and uncertainty due to closure of industries in Karachi, massive layoffs and drastic decline in the national exchequer further leading to chaos.

  • Industry cries foul as gas suspension halts production

    Industry cries foul as gas suspension halts production

    KARACHI: The industry has cried foul over suspension of natural gas, which has halted the manufacturing activities resulting dishonoring export orders.

    The Industrialists of SITE Karachi have stringed up protesting banners over various roads and roundabouts of industrial areas against Gas load shedding, appealing the Prime Minister for uninterrupted supply of gas to industries of Karachi to save export and general industries including SMEs from disaster otherwise, fulfillment of export orders and new investments of billions of rupees shall be at risk.

    READ MORE: SITE Association demands reversing policy rate at 7%

    President, SITE Association of Industry, Abdul Rasheed, in a statement appealed Prime Minister Imran Khan that industries are facing suspension of gas supply since November 21, 2021.

    Due to daily 16 hours’ gas load shedding or zero gas pressure, about 66 per cent industrial production has been effected whereas, discrimination with Karachi is catastrophic for industries and against the defined export policies of the prime minister.

    Karachi is industrial and economic hub of Pakistan, despite of contributing 68 per cent to national exchequer, contributing over 54 per cent towards total exports and 52 per cent towards textile exports, Karachi is facing injustice by authorities.

    READ MORE: SITE Association signs MoU for tax return filing

    Abdul Rasheed raised the question as to why industries of Karachi solely suffers from shortage of Gas? Why is Sindh being prevented from using its own Gas?

    “It seems that there is hidden intention of shutting down or destroying Karachi industries behind depriving Karachi of gas. Is depriving Karachi of gas aimed at thwarting Prime Minister’s export policy?”

    Last year SSGC was provided with 150 MMCFD RLNG against only 34 MMCFD RLNG provided this year.

    READ MORE: SITE Association hails FBR chairman’s no bank account freezing decision

    He further added that Sui Northern Gas Company may also confer its appropriate share to Baluchistan and wrongly allowed 211 MMCFD gas to Sui Northern Gas may be provided back to SSGC to improve gas supply.

    SAI chief has appealed to Prime Minister Imran Khan to ensure round-the-clock gas supply with adequate pressure to Karachi industries and requested to supply gas regardless of category i.e. Export, General industries or SMEs so that destruction of industries could be avoided failing which investment made by importing 3 billion dollars’ worth machinery by various industries shall be in jeopardy and will lead to a flood of unemployment.

    READ MORE: Pakistan unlikely to get benefit from 2nd phase of China FTA: SITE Association

  • FPCCI demands allowing clearance of solar equipment

    FPCCI demands allowing clearance of solar equipment

    Khawaja Shahzeb Akram, the Senior Vice President (SVP) of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has called for the exemption of unfair sales tax imposition on solar power equipment.

    (more…)
  • SBP organizes SME exhibition in Multan

    SBP organizes SME exhibition in Multan

    KARACHI: State Bank of Pakistan (SBP) in collaboration with Multan Chamber of Commerce & Industry (MCCI) organized a two-day SME Exhibition on January 24-25, 2022.

    The event was attended by officials and members of chambers of industry & commerce, associations of traders and women entrepreneurs, and SMEs clusters of Multan, Khanewal, Vehari, D.G. Khan besides officials of SBP BSC and banks.

    Muhammad Usman Dar, Special Assistant to Prime Minister on Youth Affairs, speaking in the inaugural session of the Mela, highlighted the progress of Prime Minister’s Kamyab Jawan Program especially designed for young entrepreneurs in the country.

    READ MORE: Mini-budget likely to push up inflation: SBP

    He praised the personal commitment of Governor SBP, Dr Reza Baqir, in expanding the access to credit at grass root levels including small businesses, women entrepreneurs, and people dreaming to own their home through new credit schemes such as SME Asaan finance (SAAF), Mera Pakistan Mera Ghar (MPMG) and SBP Refinance Scheme for Women Entrepreneurs.

    Muhammad Ashraf Khan, Managing Director SBP Banking Services Corporation (SBP BSC) inaugurated the event and while giving his keynote address said that SBP is making all its efforts to enhance collaboration with the industry and chambers across the country to spread awareness of its credit schemes to boost their utilization.

    Besides, SBP BSC in partnership with Industry Chambers and Women Associations is working under a new mechanism to identify potential businesses and their employees to apply in the banks for loans under concessional credit schemes for SMEs and housing.

    READ MORE: Tax imposed to protect domestic entertainment industry

    Highlighting the objectives of the SME Mela, he stated that this would bring banks and business community under one roof, providing an opportunity to micro, small, and medium enterprises to seek guidance from concerned officials of SBP and commercial banks about concessionary refinance schemes.

    He encouraged those SMEs to apply under SBP’s SAAF that have strong business viability but do not have collateral to offer.

    At this occasion, Khawaja Muhammad Hussain, President MCCI thanked both Special Assistant to Prime Minister and MD SBP BSC, assuring full support of all regional chambers for creating awareness about GoP and SBP concessional financing schemes among the business community of Multan and surrounding areas.

    READ MORE: FBR slaps sales tax at 17% on supply of food stuff

    On day one of the Mela, participants were briefed about the key features of SAAF and PM Kamyab Jawan Youth Entrepreneurship Scheme. Under SAAF Scheme, collateral free financing of up to Rs10 million is available through eight participating banks.

    Similarly, under Kamyab Jawan Scheme, concessional loans of up to Rs25 million are available at end user rate of 3 per cent to 5 per cent. On the second day of Mela, participants were apprised about key features of SBP’s financing scheme for renewable energy and Mera Pakistan Mera Ghar (MPMG) Scheme.

    Over 600 businesses and firms attended the Mela and visited the banks’ stalls to seek knowledge of SBP’s financing schemes and banks’ loan products. Notably, 264 participants registered themselves at various bank’s stalls to express interest in concessional schemes, including 105 SMEs and women entrepreneurs who applied on the spot for financing under different SBP’s schemes and Kamyab Jawan Program. During the event, MD SBP BSC also distributed cheques among the borrowers of HBL, Bank of Punjab and Bank Alfalah under SBP’s SAAF.

    READ MORE; FBR enhances tax rates on motor vehicle registration

  • KCCI holds awareness seminar on Pakistan Single Window

    KCCI holds awareness seminar on Pakistan Single Window

    The Karachi Chamber of Commerce & Industry (KCCI) organized an awareness session on Pakistan Single Window (PSW).

    The seminar was aimed to raise technical awareness about the overall operations of this important facility and provide an opportunity to the participants of the session to better understand the system, highlight issues and get adequate response along with first-hand information from the relevant officers of Pakistan Customs.

    READ MORE: PSW to link 27 banks for trade facilitation

    The session, which was steered by Chief Domain Officer/ Additional Collector Customs Naveed Abbas Memon and simultaneously conducted through online zoom facility, was attended by President KCCI Muhammad Idrees, Senior Vice President Abdul Rehman Naqi, Vice President Qazi Zahid Hussain, Chairman Customs & Valuations Subcommittee Muhammad Arif Lakhani, Former Senior Vice President Muhammad Ibrahim Kasumbi, Former Vice President Nasir Mehmood, KCCI Managing Committee and General Body Members in addition to immense participation of more than 250 people from all over the country including Sialkot, Lahore, Islamabad and Faisalabad who joined the meeting via zoom facility.

    Speaking on the occasion, Chief Domain Officer Naveed Abbas Memon stated that Pakistan Single Window portal has been designed to fully facilitate traders by reducing time, cost and complexity in cross border trade in addition to improving the quality of experience for all stakeholders with primary focus on ease of doing business. He said that it also supports other government departments in adopting an Integrated Risk Management (IRM) approach for efficient enforcement of trade related controls.

    READ MORE: PSW to reduce trade cost, time, and complications: Tarin

    Earlier, while welcoming the participants of awareness session, President KCCI Muhammad Idrees appreciated the PSW initiative introduced by the government which would certainly help in minimizing human interaction and reduce chances of harassment and corruption. However, he stressed that the need to promptly rectify numerous glitches in the system and simplify procedures in order to achieve the prime objective of PSW facility which was to ensure ease of doing business.

    He said that it was heartening to see that PSW promotes ease of doing business by maintaining collaboration with 74 different public sector entities involved in regulation of cross border trade of Pakistan and digitalizing the processes related to importers, exporters, customs house agents, freight forwarders, shipping companies and transporters etc. but there was a room for further improving the system so that it could be brought at par with international standards.

    He was of the view that fully functional and totally flawless operations of PSW would also enable Pakistan to achieve compliance with WTO’s Trade Facilitation Agreement besides helping Pakistan to unlock its potential in becoming a hub for trade.

    READ MORE: Biometric verification for PSW inaugurated at KCAA

    He mentioned that Karachi Chamber has the honor of being the first Chamber of the country to NADRA e-Sahulat at KCCI premises where members of the business and industrial community were being provided biometric verification facility required for registration in the PSW portal. “PSW or any other IT-enabled service to be introduced in future must be devised in such a manner that these facilitate business community rather than becoming a source for exploitation”, he stressed, adding that FBR must work in close coordination with KCCI to make PSW and other such future initiatives successful.

    While appreciating the support and cooperation extended by Pakistan Customs, particularly the seriousness being exhibited towards ensuring ease of doing business, President KCCI opined that the success of PSW initiative would not only prove beneficial for businesses but also for the economy.

    Many participants of the meeting expressed deep concerns over some non-functional tabs in PSW portal and also the delays in biometric verification for registration which was causing demurrage detention losses. In response, on the spot instructions were issued to resolve several glitches so that the business community could use this portal without any problem.

    READ MORE: SBP to eliminate electronic import form for PSW

  • Pakistan, Sri Lanka bilateral should be increased

    Pakistan, Sri Lanka bilateral should be increased

    KARACHI: Dr. Bandula Gunawardane, Minister of Trade of Sri Lanka, has stressed the need to improve bilateral trade with Pakistan above $1 billion from existing $450 million.

    “The bilateral trade volume of approximately $450 million is grossly insufficient as compared to the true potential for the same,” the Sri Lankan trade minister said during his visit to Federation of Pakistan Chambers of Commerce and Industry (FPCCI).

    READ MORE: FPCCI proposes charter to protect economy from politics

    He expressed his resolve and offered his full support to take it to one billion dollars by the year 2024. He enlisted a number of areas to increase the exports to Pakistan; namely, various kinds of tea, natural rubber, coconut & coconut products, raw & processed fish, papermaking raw materials, gemstones, etc.

    Gunawardane mentioned that Pakistan-Sri Lanka Free Trade Agreement (PSFTA) inked in 2005 has not achieved its real potential and needs to be revisited to make it more effective and result-oriented. He was optimistic that PSFTA can be widely expanded and updated to effectively kickstart an upward spiral in trade volumes and can translate into a multi-billion dollar phenomenon.

    READ MORE: Banks not issuing forms for land trade with Turkey: FPCCI

    Hanif Lakhany, VP FPCCI, has expressed his profound grief over the most unfortunate and gruesome Sialkot incident with a Sri Lankan national; and, respectfully acknowledged the Sri Lankan resolve and resilience to continue to cement the brotherly bilateral relations between the two historically significant strategic partner nations.

    Hanif Lakhany added that Sri Lanka is the only country with whom we have trade surplus on a sustainable basis; and, therefore, it will always continue to be an important market for Pakistani business, trade, and industrial community.

    He also pointed out that Sri Lanka should aggressively promote its wonderful destinations and tourism infrastructure to Pakistanis to broaden People-to-People (P2P) and Business-to-Business (B2B) linkages and relations. 

    READ MORE: FPCCI suggests regulating cryptocurrencies in Pakistan

    Suleman Chawla, FPCCI’s SVP-elect for 2022, stated that Pakistan happens to be the world’s largest tea importer at approximately $700 million per year; and, unfortunately, Sri Lankan share to that massive volume stands at merely 2%. He added that FPCCI will strive and facilitate Sri Lanka to enhance and multiply its tea exports to Pakistan. He proposed that the issue can be discussed while revising and expanding the PSFTA.

    Engr. M.A. Jabbar, FPCCI’s VP-elect for 2022, mentioned that while bilateral trade volume of India & Sri Lanka is $4 billion and Pakistan & Sri Lanka is less than half a billion; both countries need to look into the marginal and sub-potential trade activities and for its core causes. 

    READ MORE: FPCCI urges measures to overcome gas crisis

    Abdul Rahim Jano, former SVP FPCCI & Group Chairman at Rice Exporters Association of Pakistan (REAP), discussed that he has found Sri Lankan business community and the government as very hospitable and welcoming during his fifty years of experience of dealing with them. He also enlightened the session with regards to the historic trade ties between Pakistani business community and Sri Lanka; and that, it has spanned over a century; dating back to erstwhile pre-partitioned India.

    Zeeshan Shahid, Chairman of FPCCI’s Pak-Sri Lanka Business Council, proposed that Sri Lanka should consider importing motorcycles from the well-advanced motorcycle and motorcycle parts manufacturing plants in Pakistan, which are operating on a large-scale. He added that Pakistani motorcycles have tremendously gained in product quality over the years; and, given the fact, motorcycles are also widely used as the common man’s mode of transportation in Sri Lanka, just like Pakistan. Hence, it will be a win-win situation for both the countries.

  • FPCCI proposes charter to protect economy from politics

    FPCCI proposes charter to protect economy from politics

    KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed a charter to protect the economy from any political or policymaking unpredictability.

    Acting President FPCCI, Khawaja Shahzeb Akram, proposed a non-political, inclusive, sustainable and legally-binding ‘Charter of Economy’ to forge an across the board contract and unflinching commitment towards economic growth, development and equality. He said that the aforementioned charter should encompass all sectors of the economy and all segments of the society.

    READ MORE: Banks not issuing forms for land trade with Turkey: FPCCI

    Akram in a statement on Thursday said that the draft of the Charter of Economy has been prepared by FPCCI with a high-degree of diligence, meticulous efforts, attention-to-detail, studying best-practices from across the globe and a thorough input from the business community from all sectors and segments of the economy.

    FPCCI’s Acting Chief added that the aim of the charter is to protect the economy from any political or policymaking unpredictability; and, ensure provision of a business and economic environment where all investors, entrepreneurs, businessmen, traders and industrialists should feel confident and motivated to plan their businesses for the long-term.

    READ MORE: FPCCI suggests regulating cryptocurrencies in Pakistan

    There should be no fear of a rollback in tax holidays or waivers; no strains of erratic new or ad hoc taxation; no imposition of unfair regulatory regimes; no harassment, bribes or corruption; no unhealthy or uncompetitive governmental policies; no ludicrously expensive utilities and no unstable political environs that destabilize the business sentiments.

    Acting President FPCCI stated that a country should reward investors, inventors, entrepreneurs, SMEs, employment generation activities, exporters & foreign-exchange-earners and taxpayers who actually run the country through their services and contributions.

    READ MORE: FPCCI urges measures to overcome gas crisis

    Akram maintained that all political parties; whether in the government or opposition; should single-mindedly support FPCCI’s proposal to have a Charter of Economy in the supreme national interest and to save the economy of Pakistan from the ever-yawning existential challenges. He added that all institutions of the state should also come together to support the all-out efforts for the rejuvenation of the national economy.

    He explained that the real job of the government and all its institutions is to provide an enabling environment for the businesses; cut costs of doing business and support ease of doing business. Pakistan’s business community is resilient, capable and experienced enough to take care of the rest; and, produce enough business and economic activity to put Pakistan on a sustainable high-growth trajectory.

    READ MORE: FPCCI demands consultations on planned mini-budget

    Sultan Rehman, Coordinator FPCCI Head Office, emphasized that FPCCI is the apex representative body of the entire business, trade and industrial communities of Pakistan; and, it has the mandate, capability and experience to bring them all together to sit with all the stakeholders of the state to express their full support towards the proposed Charter of Economy.

  • Business community resents increase in power tariff

    Business community resents increase in power tariff

    KARACHI: The business community has resented the increase in power tariff by National Electric Power Regulatory Authority (NEPRA) and said it will burden the consumers, according to a statement issued on Saturday.

    The businessmen panel (BMP) of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) condemned the NEPRAto raise power tariff by Rs4.3 per unit in Jan-2022 bills, saying the burden of power theft, mismanagement and inefficiencies cannot be shifted on to the consumers on the plea of fuel adjustment.

    READ MORE: Banks not issuing forms for land trade with Turkey: FPCCI

    Mian Anjum Nisar BMP chairman said that the high cost of doing business has proved to be dangerous for Pakistan’s industry, discouraging investment both in capacity and capability, calling for lessening the burden of heavy taxes on the power sector.

    He asked the government to shut down all expensive oil-based power plants to ensure availability of cheaper energy for consumers. He lamented that the previous government did not pay heed to rehabilitation and maintenance of old power plants which caused several system constraints, inflicting heavy losses.

    FPCCI former president said that the under-utilization of the efficient power plants due to the non-availability of RLNG can be avoided if the Ministry of Energy has timely assessed and managed the availability of RLNG. He asked the Ministry to play an active role in ensuring the supply of RLNG in a timely manner, so that it may not affect the operation of the efficient power plants. Thus, the inefficiencies of the power sector can be mitigated without passing it to the end consumers, he added.

    READ MORE: FPCCI suggests regulating cryptocurrencies in Pakistan

    This huge burden of cost on consumers is being put as the government could not arrange RLNG to run the plants. Owing to low supply of the imported gas, the less efficient plants were operated that generated costly electricity in the month of Nov 2021, which is not just, he added.

    He said that the RLNG being the imported fuel can be managed through better supply chain management and accordingly impact of such mismanagement in the non-availability of RLNG cannot be passed on to the consumers, he argued.

    Anjum Nisar said that constant hike in power tariff on the plea of fuel adjustment has pushed the electricity prices higher and added to the already soaring cost of trade and industry. Seeking the same competitive energy tariffs for domestic industries to capture the global market, he said that due to the high rates of electricity, power theft became rampant as the tariff was not affordable for the consumers.

    While terming the increase in power tariff by Rs4.30 per unit as a shameful decision, he demanded of the government to withdraw the increase. The government’s decision to increase the power tariff by 4.30 rupees per unit is anti-industry act and the BMP strongly condemns dropping the electricity bomb on the poor masses and demands of the government to withdraw its decision.

    READ MORE: FPCCI urges measures to overcome gas crisis

    He urged the power ministry to identify system constraints and communicate targets to all the concerned departments to initiate up-gradation of transmission system on war footing. He called for completing all ongoing power projects well before time. He said production of hydel power has been increased while furnace oil price is constantly declining in the international markets.

    Nisar said that business-friendly policies must be adopted as other neighboring countries of the region are giving to trade and industry.

    The amount specified in trade policy should be utilized for the promotion of exports by giving incentives to the trade and industry and by exploring new markets, he suggested. The BMP Chairman said the electricity price in Pakistan is already on the higher side which is the main source of price-hike in the country.

    READ MORE: FPCCI recommends interprovincial trade of sugar

    He said provision of cheap electricity will help reduce production cost which would provide relief to the public. He said rising imports and widening trade deficit has posed a serious threat to economic growth and required to be tackled on priority basis.

    He endorsed recommendations of National Electric Power Regulatory Authority, directing the government to include hydropower projects in the scope of renewable energy, as the country cannot afford to rely on costly and anti-environment fossil fuels.

  • Industry asked to maintain record of employees, guards

    Industry asked to maintain record of employees, guards

    KARACHI: Nasir Aftab, Deputy Inspector General of Police (DIG) West Zone Karachi Friday asked industrialists to maintain record of employees and security guards in order to prevent criminal activities.

    The DIG while addressing a meeting with the office bearers of North Karachi Association of Trade and Industry (NKATI) said that the Sindh Police will continue to take all possible measures to protect the lives and property of the industrialists.

    SSP Central, Ghulam Murtaza Tabassum, SSP Investigation, Shehla Qureshi, President NKATI Faisal Moiz Khan, SVP, Shabir Ismail, VP, Naeem Haider, senior member executive committee Syed Usman Ali, chief CMC Farooq Khatora, former President NKATI, Syed Tariq Rashid and members managing committee were also present.

    READ MORE: NKATI expresses concerns over gas disconnection

    The DIG further said a team will be formed consisting of policemen DIG West, Rangers personnel and representatives from NKATI to formulate SOPs regarding law and order in the industrial area.

    Police services can be availed while withdrawing cash from the bank. He also directed the SSP Central to provide more personnel to the NKATI Crime Monitoring Cell.

    NKATI President, Faisal Moiz Khan appreciated the cooperation of DIG West, Nasir Aftab, and said that all development works in North Karachi Industrial Area have been carried out with the grant from Sindh Government. Which is a sign of full confidence of the Sindh government.

    READ MORE: NKATI condemns artificial raw material shortage

    He suggested that a CPLC-like system should be set up in every industrial zone and it should be regularly notified by the Sindh government to give it a legal status. He requested DIG West to put this proposal before the top government agencies. In this regard, we are also in touch with the Sindh Home Department.

    “Khamisa Goth and Lasi Goth are connected in North Karachi Industrial Area from where criminals enter North Karachi Industrial Area and easily escape after committing incidents. Therefore, police co-operation is required to monitor the routes through which these criminals enter the industrial area. An integrated strategy needs to be formulated in this regard,” he pointed out.

    READ MORE: Gas supply suspension: NKATI appeals PM to save industry

    NKATI president drew attention to the encroachments in the North Karachi Industrial Area, saying that most of the people sitting on chairs outside the tea hotels are criminals. Therefore, it is very important to put an end to such encroachments because criminals sit in the same hotels and keep an eye on the industrialists. At present 7 personnel have been provided to Gabol Town Police Station and 13 personnel have been provided to North Karachi Industrial Area Police Station so the shortage of personnel should be met.

    Syed Usman Ali, senior member, executive committee, said that cooperation with the police and NKATI is very strong, which has resulted in a significant reduction in crime in the North Karachi Industrial Area, but there is a shortage of personnel. He informed that Installation of 750 CCTV cameras in North Karachi Industrial Area will be started soon. While street lights have been installed to illuminate the industrial area, North Karachi Industrial Development & Management Company is paying the bills of K Electric in this regard.

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