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Tag: Karachi Chamber of Commerce and Industry

  • KCCI expresses concerns over sudden stoppage of National Saving payments

    KCCI expresses concerns over sudden stoppage of National Saving payments

    KARACHI: Karachi Chamber of Commerce and Industry (KCCI) on Saturday expressed deep concerns over sudden stoppage of payments by National Saving Centers (NSCs) and urged the government take immediate action in this regard.

    KCCI President Shariq Vohra in a statement, while expressing deep concerns over the sudden stoppage of payments by NSCs, urged the government to look into this serious issue as any delay in these payments would intensify the hardships mostly for the senior citizens including retired individuals and widows whose lives depend on timely payments.

    The President KCCI pointed out that KCCI has received numerous complaints as the returns of many individuals against their investments in NSC certificates have been put on hold without a valid reason and they all were extremely worried about it.

    “It is a well-known fact that these payments belong mostly to senior citizens and widows whose lifetime savings are invested in certificates so that they could utilize the monthly returns on their daily bread and butter. Hence, it is really unfair to stop such critically and economically important payment,” he added.

    He said that on one hand, the Federal Ombudsman has directed the Pakistan Post to digitize all Post Offices by February 2021 to avoid delay in payment of profits against saving certificates issued to senior citizens and widows but on the other hand, this important segment remains deprived as their request for release of outstanding payment has been turned down.

    He stressed that in order to facilitate the senior citizens, the National Saving Center has to be completely digitalized and its operations should be improved as per banking standards while the profits payable should instantly be transferred into the personal accounts of its account holders, which would be widely welcomed as the senior citizens will not be required to visit saving centers every month to claim their dues and they will be able to access their profits online.

    President KCCI requested the Ministry of Finance and the State Bank of Pakistan to issue directives for immediate release of payments to the masses so that their lives were not disturbed.

  • Business demands to withdraw power tariff hike, shutting down captive power plants

    Business demands to withdraw power tariff hike, shutting down captive power plants

    KARACHI: Business community has demanded Prime Minister Imran Khan to withdraw the decision to increase in power tariff hike and shutting down the captive power plants because such decision would sabotage efforts of the government to enhance the exports.

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  • KCCI, Jazz sign deal for 35 percent to businessmen

    KCCI, Jazz sign deal for 35 percent to businessmen

    In a significant move to benefit the local business community, the Karachi Chamber of Commerce & Industry (KCCI) and Jazz, Pakistan’s leading 4G operator and top internet and broadband service provider, have announced the signing of a Memorandum of Understanding (MoU). The agreement, formalized on Saturday, aims to provide substantial discounts on Jazz’s services to KCCI members.

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  • KCCI demands immediate release of income tax refunds

    KCCI demands immediate release of income tax refunds

    KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has urged the Federal Board of Revenue (FBR) to immediately release pending income tax refund claims of small traders, shopkeepers and the SMEs.

    The claims of around Rs50,000 to Rs100,0000, whose assessment has been completed should be released on top priority, Chairman Businessmen Group (BMG) and Former President KCCI said in a statement on Tuesday.

    “Blocking such refunds oppresses small businesses which continue to face serious cashflow problems. We have no idea how long the COVID-19 pandemic would last and it is a well-known fact that almost every household is a victim of this pandemic therefore, the government will have to provide relief as it is totally uncertain where the businesses will land up in the days to come”, he added while speaking at a meeting of Small Traders held at KCCI.

    The meeting was also attended by General Secretary BMG AQ Khalil, President KCCI M. Shariq Vohra, Senior Vice President KCCI M. Saqib Goodluck, Vice President KCCI Shamsul Islam Khan, Chairman of KCCI’s Special Committee for Small Traders Majeed Memon, Former Senior Vice Presidents Javed Bilwani and Muhammad Ibrahim Kasumbi, Former Vice President Talat Mehmood and KCCI Managing Committee Members along with representatives of several commercial markets from all over Karachi.

    Chairman BMG stressed that the government will have to bring in major changes in the taxation system and it also needs to devise effective mechanism to minimize the hardships of small traders as although big businesses may survive but the small ones need support as they have no access to financing facilities and have also lost all their savings while battling with the situation triggered by the pandemic. “SMEs and shopkeepers are the worst sufferers of the COVID-19 pandemic who must not be undermined and given relief.”

    He also stressed the need to resolve CNIC issue which was creating a lot of problems for the already perturbed businessmen who were compelled to run their businesses with limited timings and were strictly advised to comply with all the SOPs for containing COVID-19 pandemic which has resulted in creating a troublesome situation for small traders by raising the costs and lowering the earnings.

    In response to concerns expressed over the imposition of municipal tax, he said that President KCCI has already taken up the municipal tax issue and was strictly pursuing the same so that the grievances faced by small traders could be minimized. Moreover, the Karachi Chamber was also closely monitoring the relocation of displaced shopkeepers whose premises were razed during the anti-encroachment drive. “These shopkeepers must be provided adequate alternate place for business and we are seriously working on it”, he assured.

    Chairman BMG said the problems confronted by small traders will always be given top priority by the leadership of Businessmen Group and sitting office bearers of the Karachi Chamber who would keep on raising a strong voice and make all out efforts to get the issues resolved.

    Zubair Motiwala, while recalling his journey with Late Siraj Kassam Teli, said that the vacuum created after the sad demise of late Siraj Teli cannot be filled by anyone but he along with all Vice Chairmen BMG and General Secretary BMG would try their level best to come up to the expectations of the entire business & industrial community, particularly the small traders who play the role of backbone in the economy. “We always spoke vocally about your issues and would continue to do so in future as well with same zeal and enthusiasm. KCCI would move forward hands-in-hands and its doors will always remain open for small traders while the policies introduced by Late Siraj Teli will remain intact and any inevitable change in these policies would only take place after consultation.”

    Speaking on the occasion, President KCCI M. Shariq Vohra said that the small traders were the assets of KCCI and the Chamber fully realizes their significance. KCCI’s role is to facilitate and support the business community in dealing with numerous government related matters and pave way for the progress and prosperity of small traders. “This is our job and we will remain unshakable until numerous issues are amicably resolved”, he added.

  • Budget 2021/2022 to focus on easing tax burden: Member IR

    Budget 2021/2022 to focus on easing tax burden: Member IR

    Karachi: The upcoming federal budget will ease the burden on the industrial sector to reduce the cost of doing business to facilitate industrial and exporters, Dr. Muhammad Ashfaq, Member Inland Revenue (Operations), Federal Board of Revenue (FBR), said on Friday.

    The Member was addressing the members of Karachi Chamber of Commerce and Industry (KCCI) during his four day visit to the city.

    The Member said that the FBR was working on a policy to reduce the cost of doing business.

    He said that it was encouraging that export orders were increasing. Further, a report of the State Bank of Pakistan (SBP) pointed out a reduction in the cost of doing business.

    “The budget 2021/2022 will focus on reducing the cost of production. Further, the priority will be easing the tax burden on the industrial sector,” the Member added.

    FBR receives numerous budget suggestions every year, he said, adding that the KCCI should send essential proposals.

    The Member said that the condition of CNIC was part of the statute. He also said that audit was part of the taxation system.

    He said that the FBR would introduce a new tax policy in the next three months. The Member said that refunds would be paid when claimed.

  • President Alvi assures business community of resolving gas shortage

    President Alvi assures business community of resolving gas shortage

    KARACHI: President of Pakistan Dr. Arif Alvi on Saturday assured business community of resolving issue of gas shortage on priority basis.

    In response to deep concerns expressed by President Karachi Chamber of Commerce Industry (KCCI) M. Shariq Vohra on serious gas crises being suffered by Karachi, President Dr. Arif Alvi assured to take up this matter with relevant ministers and update the business community within a couple of days on what exactly were the causes for gas shortages and what strategies were being devised to deal with the situation, according to a statement issued by the KCCI.

    The assurance was given at a meeting held here at Governor House on Saturday in which President KCCI Shariq Vohra informed President Dr. Alvi that the ongoing gas crises in Karachi has become a very serious issue that needs to be probed because at a time when the exports were picking up, some elements somewhere in the system abruptly intervened and created gas shortage which has resulted in closure of many factories.

    He feared that if the gas crises go on like this, it would become difficult not only for the exporters to dispatch their shipments on time but also the general industries will not be able ensure smooth supply goods in the local markets.

    He said that the hardships being faced by the business & industrial community of Karachi due to suspension of gas supply needs to be given special attention and promptly resolved otherwise, the situation would have a serious impact on the industrial performance and the economy, besides triggering massive unemployment and poverty.

    Appreciating President Alvi’s efforts being made for the betterment differently abled persons in the society who deserve access to employment, President KCCI assured that the Karachi Chamber fully supports President Alvi’s initiative and has started working on this project.

    In this regard, relevant information has already been posted on KCCI’s website while emails and letters have also been sent to KCCI members and a meeting has also been convened in the month of January to discuss the possibilities of employing maximum number of disabled people in various factories and industrial units.

  • Tax Return Filing: KCCI urges Prime Minister to facilitate taxpayers

    Tax Return Filing: KCCI urges Prime Minister to facilitate taxpayers

    KARACHI: Karachi Chamber of Commerce and Industry (KCCI) – the largest chamber in the country – has requested the prime minister to grant extension in the last date for filing return of income up to January 31, 2021.

    KCCI in this regard sent a letter to Prime Minister Imran Khan on Monday and requested to extend the last date for filing income tax return.

    It is important to note that the business community is approaching the executive of the country after the Federal Board of Revenue (FBR) refused to facilitate taxpayers to comply with mandatory requirement.

    KCCI president Shariq Vohra has requested the government to extend the last date for filing Income Tax returns up to January 31, 2021 as many taxpayers have not been able to file their returns on time due to COVID-19 pandemic.

    President KCCI has written a letter to Prime Minister Imran Khan in which it has been pointed out that the entire nation including taxpayers were hard hit by the first wave of Covid-19 and now second wave has gripped masses including the taxpayers particularly and tax practitioners which is a serious life threat for everyone.

    Hence, the Federal Board of Revenue (FBR) must be directed to extend the last date for filing income tax return up to January 31, 2021 which would be widely appreciated by the business community, he added.

  • KCCI urges shopkeepers to strictly ensure coronavirus SOPs

    KCCI urges shopkeepers to strictly ensure coronavirus SOPs

    KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has urged shopkeepers to ensure strict compliance of SOPs and business timings to prevent spread of coronavirus.

    A statement issued on Monday said that KCCI president M. Shariq Vohra, after listening to the reservations raised by a delegation from All City Tajir Ittehad (ACTI), assured that KCCI would try its level best to make sure that no injustice is done to any shopkeeper even if the government opts another lockdown or smart lockdown in any market of Karachi to contain further spread of COVID-19 pandemic.

    “However, the shopkeepers must strictly ensure compliance of SOPs and also the business timings, besides devising effective strategies for social distancing as coronavirus, which is a matter of life and death, has to be taken seriously,” he added.

    Exchanging views with ACTI delegation which was led by its President Hammad Poonawala, President KCCI said that KCCI was in constant touch with the government and was closely eyeing numerous strategies being adopted to control coronavirus pandemic.

    Hence, any issue being faced by small traders/ shopkeepers must be brought to KCCI’s notice so that the same could be immediately taken up with relevant departments and amicably resolved. “KCCI would always advocate those strategies which are devised to not only save precious lives but also ensure minimum losses to business community during the ongoing most difficult and extraordinary situation.”

    Senior Vice President KCCI M. Saqib Goodluck, Vice President KCCI Shamsul Islam Khan, Chairman KCCI’s Special Committee for Small Traders Majeed Memon, Chief Police Chamber Liaison Committee Hafeez Aziz, Managing Committee Members, ACTI’s District-wise Presidents and representatives from various commercial markets of Karachi also attended the meeting.

    Keeping in view the developing situation and the fears of imposition of another lockdown, President KCCI advised representatives of numerous associations from commercial markets of Karachi to stay calm, improve liaison with KCCI and unite under the Chamber’s platform so that one voice could be raised for getting numerous issues resolved and the likely grievances, if not completely eradicated, could be minimized.

    He said, “It is high time that small traders and shopkeepers must change their mindset and start opening their businesses early morning which would certainly minimize the grievances being faced by them at the end of permitted business timings.

    “Shops and markets all over the world open early and close down in the evening which must also be adopted here as our religion also teaches us the same.”

    Responding to numerous complaints in which shopkeepers complained about harassment by police and customs officials, he advised that any complaint pertaining to harassment by customs officials must immediately be brought to KCCI’s notice so that the same could be taken up at the higher level.

    “The higher authorities are usually unaware of such wrongdoings being done by the officers at lower level as it has been observed that all such complaints are instantly resolved when brought to the notice of higher officials.”

    “The Karachi Chamber would invite IG Sindh soon so that the harassment-related problems being suffered by small traders could be resolved”, he assured.

    President KCCI advised small traders to become KCCI members which was the most vibrant platform for resolving all types of issues including the law & order, customs and taxation related issues as KCCI’s Subcommittees have been maintaining close liaison with all the departments which helps in swift resolution of relevant issues.

    Speaking on the occasion, President ACTI Hammad Poonawala appreciated KCCI for always promptly taking up the issues of small traders and shopkeepers under the supervision of Chairman BMG Siraj Kassam Teli.

    He pointed out that shopkeepers were nowadays fearing another lockdown or smart lockdown which, if imposed, would prove completely destructive for small businesses. “Hence, KCCI must play the lead role in convincing the government to refrain from imposing another lockdown and we will ensure strict compliance of all SOPs. In this regard, a committee should be formed by KCCI to look into the problems being suffered by small traders who have been facing a lot of hardships every day because of harassment and demand for Bhatta.”

    ACTI delegation also expressed deep concern over dilapidated condition of roads in Shershah market and other important markets of Karachi which were terribly affecting trade and commercial activities. Although assurances have been given from time to time but no development work has been initiated so far and the roads continues to worsen day by day. 

    They further complained that in order to demand bribes, policemen, traffic police officers and customs officials intercept their legal consignments with an excuse to check presence of any illicit product. Even if all the legal documents are presented and the consignment is not carrying any banned item, they do not release it until the demand for bribe is fulfilled. To deal with this serious issue, KCCI was requested to invite IG so that the business community could record their protest and formally request strictest action against such corrupt practices.

  • Video surveillance solution to monitoring without human intervention: FBR

    Video surveillance solution to monitoring without human intervention: FBR

    KARACHI: Dr. Muhammad Ashfaq, Member Inland Revneue (Operations), Federal Board of Revenue (FBR) on Saturday said video surveillance is solution for monitoring of production without human intervention.

    He was addressing the members of Karachi Chamber of Commerce and Industry (KCCI). He said that although the chamber had criticized the implementation of video surveillance. But there is no other solution for monitoring, he added.

    He said that industries had shown intention for video analytics. He said that the sugar industry had serious production issues. He further said that the world had adopted technology. The FBR is also adopting advanced technology and the industry should accept it, he added.

    The Member said that FBR was the only implementing agency and the laws were made in the Parliament.

    Dr. Ashfaq said that the FBR had released refunds to the tune of Rs250 billion during the past six months.

    He said that the country needs better public finance. Therefore, the FBR was focusing on increasing the tax net. The broadening of the tax base would also reduce burden on the existing taxpayers, he added.

    On the occasion, Siraj Kassem Teli, Chairman, Businessmen Group (BMG) said that an amount of around Rs1830 billion was stuck up in litigation. He suggested that these cases should be resolved on priority basis.

    He said that many cases were framed against taxpayers only to meet tax collection targets.

    He offered business community support in broadening the tax base.

    KCCI President Shariq Vohra said that the FBR should focus on revenue collection instead harassing the taxpayers.

    He said that the FBR was taking help from SROs to generate additional revenue. The notifications and SROs are creating difficulties for the business community as well as for tax machinery.

  • Karachi Chamber rejects power tariff hike; demands immediate withdrawal

    Karachi Chamber rejects power tariff hike; demands immediate withdrawal

    KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has strongly rejected the power tariff hike by K-Electric and demanded the government of immediate withdrawal the relevant notification.

    In a statement issued on Tuesday, KCCI President Shariq Vohra said that the anti-business move would give a serious blow to the trade & industry which was still struggling really hard to recover from the disaster caused by the lockdown for six months imposed to contain Covid-19 pandemic.

    Power Division through a notification allowed K-Electric (KE) to increase rates of electricity ranging from Rs.1.09 to Rs.2.89 per unit with effect from September 1, 2020, stated that this anti-business

    While rejecting outright the federal government’s decision to increase KE’s tariff, Shariq Vohra said Karachiites are already suffering badly due to unbridled inflation hence the hike in KE’s electricity bills was unacceptable and must be withdrawn immediately.

    “Although the lawmakers are assuring that Prime Minister Imran Khan and his government were striving to control inflation by making earnest efforts but it is really unfortunate that they have given go ahead to KE for raising its tariff which would not only intensify the hardships for business community due to high cost of doing business but would also terribly affect the poor masses who are already overburden due to inflation while KE’s tariff hike would further worsen the situation”, he added.

    “Indeed it is a huge disappointment that the Federal Government, instead of providing relief to the already burdened citizens of Karachi during the ongoing difficult times, continues to take anti-business and anti-Karachi actions. It is well known fact that the economic hub of Pakistan is passing through worst possible crisis and suffering badly due to crumbling infrastructure, electricity load shedding, gas and water shortages etc. For God’s sake, please have mercy on poor citizens and the anxious business & industrial community of Karachi which is battling for survival”, he stressed.

    Shariq Vohra pointed out that on one hand, the government has been pushing the business & industrial community to enhance their productivity and exports so that more wealth and employment opportunities could be generated in order to improve the ailing economy but how is it going to be possible when on the other hand, they give go ahead to electricity tariff hike which by all means is an anti-business and anti-people move.

    The cost of utilities in Pakistan are much higher as compared to regional countries, making our products uncompetitive in the international markets.

    “The economy and businesses would only flourish when the cost of doing business is brought down by substantially reducing the electricity, gas and water tariffs while all other exorbitant taxes and duties must also be reduced and the government will have to particularly make all-out efforts to rebuilt Karachi’s dilapidated infrastructure which has been the top most reason behind the poor industrial performance of all the industries situated in seven industrial zones of Karachi.”

    “The decision makers will have to understand that if the cost of input rises, it would lead to poor performance and reduced output of the industry, resulting in lower revenue collection, shrinking employment opportunities and making the production uncompetitive in the domestic as well as international markets”, he added.

    He mentioned that the Karachi Chamber has been strongly opposing this particular increase in K-Electric Tariff and urged the authorities through media statements issued on July 10, 2020 and September 3, 2020 to refrain from raising KE’s tariff. Although the increase was postponed at that time but it has once again been imposed in an odd situation when the businesses are desperately questing hard for survival. 

    He hoped that keeping in view all the above mentioned facts, the government would review KE’s electricity hike notification and immediately withdraw the same which would certainly be highly appreciated not only by the business & industrial community but also by people belonging to all walks of life.