Karachi, December 13, 2024 – President of Markazi Tanzeem-e-Tajran Pakistan, Muhammad Kashif Chaudhry, strongly criticized K-Electric (KE) for its monopolistic practices and inadequate service, urging the Karachi Chamber of Commerce and Industry (KCCI) and all trade associations to launch a concerted initiative aimed at addressing the challenges faced by Karachi’s citizens.
(more…)Category: Trade & Industry
This section covers news on trade and industry. Pakistan Revenue is committed to providing the latest updates on business trends.
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KCCI Presses SBP for Drastic 400bps Interest Rate Cut
Karachi, December 12, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) on Thursday called on the State Bank of Pakistan (SBP) to implement a drastic 400 basis points (bps) cut in the upcoming monetary policy announcement. The demand follows a significant decline in inflation, which dropped to 4.86% in November 2024, marking its lowest level in recent years.
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APTMA Raises Flags on New Customs Clearance
The All Pakistan Textile Mills Association (APTMA) has called on the Federal Board of Revenue (FBR) to revisit the newly proposed customs clearance system in consultation with industry stakeholders. APTMA has emphasized that the changes, if implemented without due consideration, could disrupt industrial operations, hinder exports, and negatively impact Pakistan’s economic landscape.
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Optimism Rises: OICCI Survey Highlights Economic Resilience
Karachi, December 11, 2024 – The Overseas Investors Chamber of Commerce and Industry (OICCI), a representative body of foreign investors in Pakistan, has reported improved business confidence in its latest Business Confidence Index (BCI) Survey – Wave 26. Conducted in October and November 2024, the survey reflects growing optimism among businesses operating across Pakistan.
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Chinese Firm Explores JV for Tyre Manufacturing in Pakistan
Karachi, December 10, 2024 – A Chinese company has taken a significant step toward fostering industrial collaboration by exploring a joint venture (JV) to manufacture tyres in Pakistan.
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KE Faces Strong Reaction from Traders
KARACHI: Traders in the city have issued a stern warning to K-Electric (KE) against recovering its outstanding dues of Rs68 billion from compliant bill-paying citizens and businesses, threatening widespread protests if such an attempt is made.
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APTMA Sounds Alarm on EFS Misuse Causing Shutdowns
Karachi, December 9, 2024 – The All Pakistan Textile Mills Association (APTMA), Southern Region, has expressed grave concerns over the widespread misuse of the Export Facilitation Scheme (EFS), which grants exemptions from sales tax and duties on imported cotton and blended yarns. This malpractice is causing severe damage to Pakistan’s textile industry, leading to significant financial losses, widespread unemployment, and closures of domestic manufacturing units.
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Tobacco Industry Manipulation Threatens Public Health Progress
Experts at a stakeholder seminar on Sunday underscored the manipulative strategies employed by the tobacco industry, disguised as corporate initiatives, to shape public opinion and obstruct progress in public health.
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Rising Cyberattacks – LCCI Calls for Urgent Prevention
Lahore, December 7, 2024 – The Lahore Chamber of Commerce and Industry (LCCI) has raised alarm over the escalating frequency of cyberattacks, which are wreaking havoc on businesses and the economy. LCCI officials stressed the urgent need for a robust cybersecurity framework to safeguard digital platforms.
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FIA Calls for Urgent Cybersecurity Upgrades in Pakistani Banks
KARACHI: Banks in Pakistan must urgently enhance their cybersecurity systems to counter rising cyber threats, according to Mujahid Akbar, Additional Director General of the Federal Investigation Agency (FIA). Addressing a briefing at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Akbar underscored the critical need for robust cybersecurity measures across financial and institutional sectors.
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