The Karachi Chamber of Commerce and Industry (KCCI) has called upon the Federal Board of Revenue (FBR) to extend the deadline for filing income tax returns, citing economic crises and political instability as the primary reasons for the request.
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Furniture retailers want fixed tax regime
KARACHI: Pakistan Furniture Association (PFA) has demanded fixed tax regime for their retail outlets. In this regard the association on Monday asked the Karachi Chamber of Commerce and Industry (KCCI) to raise the issue at higher platform.
Senior Vice Chairman Pakistan Furniture Association (PFA) Rana Waheed Murad, while referring to several discussions and a meeting held on June 22 with the then Finance Minister Miftah Ismail and Chairman Federal Board of Revenue (FBR), stated that it was principally agreed in the said meeting that the furniture retailers will be brought into fixed tax regime but unfortunately, the agreement reached stands unimplemented to date hence, the Karachi Chamber must take up this serious issue with relevant authorities so that furniture shopkeepers could be pulled out of Tier-I retailers category and subjected to fixed tax.
READ MORE: KCCI advises importers to manufacture motorcycle spare parts
Rana Waheed, who led a PFA delegation to KCCI, appreciated Chairman Zubair Motiwala, who, as Chairman of the Anomaly Committee formed by the government after this year’s Federal Budget announcement, effectively advocated PFA’s valid demand and also succeeded in convincing the policymakers to provide relief which was agreed but remains unimplemented.
The situation has crated a lot of problems for businessmen associated with furniture sector who were widely being harassed by FBR officials through unwarranted notices.
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President KCCI Muhammad Tariq Yousuf, Vice President Muhammad Haris Agar, Chairman Special Committee for Small Traders Majeed Memon along with KCCI Managing Committee Members and PFA delegation members attended the meeting.
Senior Vice Chairman PFA was of the opinion that furniture industry has great potential to grow and boost exports of the country to US$ 1 billion but placing furniture retailers in Tier-1 category for Sales tax collection has created lot of difficulties for this sector that was terribly affecting business activities.
“We are capable of competing with Turkey, Vietnam and China etc. but will not be able to do so if our issues stand unresolved,” he added and stressed that furniture retailers must be brought under fixed tax regime which would increase the tax revenue for the country and reduce problems being faced by furniture retailers.
READ MORE: APTMA demands immediate release of textile machinery
He also drew KCCI’s attention towards another serious issue as all the imported wood consignments have now been subjected to seeking clearance/ certification from Department of Plant Protection (DPP) which creates a lot of problems in clearing this essential raw material. “We are being asked to get the wood crust removed before shipping as it might carry bacteria but it was technically impossible as without this crust, the wood becomes drier and totally useless within a couple of months,” he explained, adding that furniture sector has witnessed strong growth in exports but it would not last long and start descending soon if such anti-business measures were not promptly reverted.
Rana Waheed, while congratulating the newly elected Office Bearers, hoped that the new team at KCCI would prioritize the issues being faced by furniture shopkeepers and make all out efforts to get them amicably resolved so that this important industry could be saved from getting into further disaster.
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President KCCI Tariq Yousuf, after listening to the grievances being faced by PFA members, assured to take up their Tier-I retailers’ issue and request the government to fulfill its commitment made to the perturbed businessmen from furniture sector.
He advised PFA delegates to also bring any other Customs related or Law & Order related issues to KCCI’s notice so that its relevant subcommittees could promptly get them resolved with a view to minimize the hardships being faced by manufacturers, sellers and exporters of furniture.
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KCCI advises importers to manufacture motorcycle spare parts
Karachi Chamber of Commerce and Industry (KCCI) has advised importers of motorcycle spare parts to set up industry for manufacturing locally.
KCCI President Mohammad Tariq Yousuf advised the importers of motorcycle spare parts to go for setting up their own cottage industries for manufacturing various spare parts which were currently being imported as it was no more feasible to import these parts because of uncertain situation triggered by unstoppable currency fluctuation.
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Exchanging views with a delegation of All Pakistan Motorcycle Spare Parts Importers and Dealers Association (MSPIDA) which was led by its Chairman Nasir Maqbool during visit to KCCI, Tariq Yousuf stressed that setting up small industries for manufacturing spare parts was the only solution to most of the problems being faced by traders including exorbitant customs duty, delays in clearance of consignments, heavy demurrage/ detention losses and high cost of imported goods due to rising dollar value.
“You have to go for import-substitution otherwise, all the issues being faced today would remain as they are in future so you must look into the possibility of becoming independent by setting up small manufacturing units,” he added.
READ MORE: APTMA demands immediate release of textile machinery
Senior Vice President KCCI Touseef Ahmed, Vice President KCCI Muhammad Haris Agar, Chairman KCCI’s Special Committee for Small Traders Majeed Memon, Former President KCCI Iftikhar Ahmed Vohra, Former Chairman MSPIDA Faisal Khalil, KCCI Managing Committee Members and MSPIDA Members also attended the meeting.
Tariq Yousuf assured that the Karachi Chamber, being the actual representative of the entire business and industrial community, was well-aware of the issues being faced by shopkeepers due to rising street crimes and has constantly been pushing the Law Enforcing Agencies to take stringent steps so that they could fearlessly carry out their businesses.
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“Any MSPIDA member, who faces problems in dealing with any law-and-order issues can easily get in touch with KCCI’s Police Chamber Liaison Committee and Law & Order Subcommittee who are working round-the-clock to help out the perturbed shopkeepers, businessmen as well as the industrialists”, he said.
Moreover, all MSPIDA members facing delays in clearance of imported goods can also approach KCCI and we will get in touch with the Customs Authorities and the State Bank of Pakistan so that the imported items could be cleared within the earliest possible time which would save importers from suffering grave losses on account of demurrage and detention charges, assured President KCCI.
He also stressed that the government must look into the possibility of bringing down customs duty of spare parts and rationalize Valuation rulings as these were not supporting the economy but paving way for smuggling and causing losses to the national exchequer.
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Earlier, Chairman PASPIDA Nasir Maqbool, in his short remarks, congratulated the newly elected Office Bearers and hoped that the support and cooperation between the two institutions would strengthen further in the days to come and collective efforts will be made for resolving numerous issues particularly the Customs and Valuation issues being faced by the importers of spare parts.
Speaking on the occasion, Former Chairman PASPIDA, while agreeing with President KCCI’s viewpoint about import-substitution, stated that although many importers of spare parts have established small manufacturing units so that they could locally manufacture various imported items but the raw material required for manufacturing these spare parts has also been blocked under Customs Tariff Section 84 and 85 which needs attention.
He said that exorbitant customs duty of 35 percent along with 11 percent additional duty, high GST and other levies were having an overall impact of around 90 percent on the cost of imported spare parts of motorcycles, making this important mode of travelling costlier and beyond the reach of poor segment of society.
“We request KCCI to take up this important issue with relevant policymakers in Islamabad so that the customs duty and other taxes could be drastically reduced which would not only save relevant businesses but also prove favorable for the economy by discouraging widespread smuggling of spare parts”, he added.
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FBR advised to extend tax return filing date for three months
KARACHI: The Federal Board of Revenue (FBR) has been advised to extend the last date for filing income tax returns at least for next three months.
Muhammad Idrees, President, Karachi Chamber of Commerce and Industry (KCCI) in a letter sent to the Finance Minister on Monday requested to issue to the FBR for extension in last date for filing income tax returns from September 30, 2022 to December 31, 2022 keeping in view the unusual situation emerging all over the country due to recent rainfalls and flash floods.
READ MORE: PTBA suggests measures to resolve refund adjustment ahead return filing deadline
KCCI President stated that the chamber was constantly being approached by the members of the business and industrial community and also by the people belonging to different walks of life who wanted the last date to be extended till December 31.
READ MORE: Penalties for failure to file return tax year 2022 within due date
“Due imposition of ban on imports which was followed by unusual situation all over the country emerging after torrential rainfalls and flashfloods, the taxpayers, particularly the members of the business & industrial community, are facing a lot of problems as a large portion of receivables from various parts of the country badly hit by floods are still pending,” he said, adding that it was a well-known fact that the business, commercial, agricultural and all other activities in the flood-hit areas have come to a total halt which has created serious cashflow issues and it will take at least two more months to return to normalcy.
READ MORE: FBR fails to remove return filing glitches; KTBA seeks legal time
In this scenario, it has become inevitable to provide relief to loyal taxpayers in shape of extension in last date hence, keeping in view the ground realities, he requested the Finance Minister to order FBR to extend the last date for filing income returns to December 31, 2022 which will be widely welcomed by the loyal taxpayers from all over the country.
READ MORE: FBR advised to fix glitches for smooth filing of income tax returns
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Karachi Chamber urges allowing imports from India
KARACHI: Karachi Chamber of Commerce and Industry (KCCI) on Thursday urged the government to open borders for allowing imports from India, especially in the wake of flood devastation.
Chairman Businessmen Group (BMG) Zubair Motiwala and President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Idrees have appealed the government to immediately allow imports of raw cotton and food items including vegetables, fruits, grains and other essential products from India through Wagha border as Pakistan faces severe shortages of all these products because of the devastation caused by flashfloods which completely washed away all the agricultural crops.
READ MORE: FPCCI rejects central bank’s claim of ‘no import restriction’
Chairman BMG Zubair Motiwala pointed out that in addition to the devastation caused and losses of up to billions of rupees suffered, food crises have also triggered as the agricultural crops, livestock, and agricultural land have been completed damaged and remain inundated to date.
“As raw cotton, dates, chilies, cauliflower, onions, and other fruits and vegetables in Sindh and Balochistan have been destroyed, therefore, it has become inevitable to open up the Wagha border and allow imports of agricultural crops from India so that our country’s food needs and also the industry’s agricultural input requirements could immediately be surmounted by importing food supplies within the shortest possible time at competitive rates from our neighboring country,” he added.
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He stressed that the government has to act promptly and sensibly in this regard to avert food crises as according to estimates, 65 percent of Pakistan’s main food crops including 80 percent of its wheat, rice and raw cotton etc. have been completely swept away during floods, and more than 3 million livestock have also died.
“In this scenario, the wisest move would be to go for importing all these products from India with lower logistic cost and time instead of other countries with heavy logistics expenses and a lot of time. Importing from India will have a bearable impact on the country’s balance of payment as compared to others hence, the lawmakers must take this important step in the larger interest of the country,” he said.
Chairman BMG warned that Pakistan’s recovery from the damages caused to the agricultural crops could take several months and if the raw cotton imports from India were not allowed on time, the textile exports would go down due to lower production as raw cotton was the basic and most important raw material of textile production. “Reduced textile exports would worsen the situation for the already ailing and overburdened economy.”
READ MORE: APTMA demands immediate release of textile machinery
President KCCI Muhammad Idrees stated that Pakistan heavily relies on the local production of agricultural products but now it was obvious that wheat, rice, raw cotton, grains and vegetables etc. have to be imported so it was better to import from India which produces plenty of these agricultural products and also the livestock.
He was of the opinion that the prices of vegetables and other commodities have risen sharply in the local markets, making them unaffordable and beyond the reach of poor segment of society hence, the government without wasting any time must immediately allow agricultural imports from India so that prices could stabilize and the countrymen could be saved from hunger and starvation.
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KCCI managing committee candidates elected unopposed
Karachi Chamber of Commerce and Industry (KCCI) on Saturday announced that all candidates for its management committee are elected unopposed for the year 2022-2023.
All the unopposed candidates were nominated by Businessmen Group (BMG).
READ MORE: APTMA demands immediate release of textile machinery
According to details, a total of 32 nominations were received by the Election Commission from candidates, of which 17 nomination papers were withdrawn that led to unopposed election of remaining 15 BMG candidates. Therefore, all 15 BMG candidates were declared successful in KCCI’s Election 2022-23.
Chairman Businessmen Group (BMG) Zubair Motiwala, Vice Chairmen BMG Tahir Khaliq, Haroon Farooki, Anjum Nisar, Jawed Bilwani, General Secretary BMG AQ Khalil expressed gratitude to Almighty Allah and conveyed thanks and compliments to the business and industrial community of Karachi for reposing confidence and trust on Businessmen Group.
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They said that 25 years of success in a row is an acknowledgement of the public service by the Businessmen Group which also testifies that overwhelming majority of Business and Industrial Community endorses the policies of BMG because they understand and believe that BMGIANs are serving them selflessly for their betterment.
BMG Leadership hoped that the newly elected representatives will make all out efforts in espousing the cause of business and industrial community and to further enhance the status of public service which is the motto of BMG.
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The list of successful BMG Candidates included names of Muhammad Arif, Mohammad Tariq Yousuf, Iftikhar Ahmad Sheikh, Altaf A. Ghaffar, Tariq Ikram Khan, Sohail Ahmed, Muhammad Yousuf Yaqoob, Junaid ur Rehman, Shoaib Manzoor, Muhammad Bilal, Adeel Nasir, Muhammad Kashif Shaikh, Mohammad Farooq Afzal, Imran Ahmed Shaikh and Mohammad Haris Agar.
As the Managing Committee members have been elected unopposed, hence no general election for Managing Committee will be held on September 24, 2022 whereas the election of KCCI’s Office Bearers for 2022-23 is scheduled to be held on September 28, 2022.
READ MORE: Industry slams finance ministry for blocking letter of credit
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Date extension demanded for electricity bills payment
Karachi Chamber of Commerce and Industry (KCCI) on Monday demanded the authorities to extend the last date for payment of electricity bills across Pakistan as in the ongoing extraordinary situation, neither the business and industrial community nor the poor masses were in a position to pay their bills.
Keeping in view the hardships being faced by the citizens and business and industrial community of Pakistan due to massive flashfloods, KCCI President Muhammad Idrees has appealed Prime Minister Shehbaz Sharif to issue directives for extension of last date for payment of electricity bills for entire Pakistan as in the ongoing extraordinary situation, neither the business and industrial community nor the poor masses were in a position to pay their bills.
READ MORE: Power tariff hike termed disaster for industries
In a letter sent to Prime Minister, President KCCI further requested to refrain DISCOs from charging FAC whereas the controversial Fixed Charges which are neither in favor of the industry nor the economy must also be withdrawn as soon as possible which would be widely welcomed by the entire business & industrial community of Pakistan.
He pointed out that as the entire country is suffering badly because of massive flashfloods triggered by this year’s torrential rainfalls of Monsson Season, the business & industrial community across Pakistan is facing severe liquidity crunch as all the receivables have been pending due to ongoing extraordinary situation wherein the entire Pakistan remains totally sunk.
READ MORE: Industry slams finance ministry for blocking letter of credit
“Keeping in view the hardships being faced by the citizens and the business & Industrial community, some leniency would have been exhibited but unfortunately, this was not witnessed at any stage and regardless of taking the ground realities into consideration, electricity tariffs for all DISCOs and KE have been raised by more than 100 percent which are totally unabsorbable for the industries and unaffordable for the poor masses,” he noted.
“Secondly, the issue of exorbitant Fuel Adjustment Charges (FAC) and Fixed Charges also stand unresolved which, we firmly believe, need to be reviewed and withdrawn at the earliest as these are neither in favor of the industries nor the economy,” he added.
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He hoped that Prime Minister would instantly consider KCCI’s request and accordingly instruct relevant Ministry/ departments to provide relief otherwise, many industries, which are already at the verge of collapse, would close down forever which would trigger massive unemployment, chaos and other economic issues.
READ MORE: Pakistan lifts ban on import of cars, phones, luxury items
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Exorbitant electricity tariff hike threatens industry survival: KCCI
Karachi Chamber of Commerce and Industry (KCCI) on Monday said that exorbitant hike in electricity tariff has threatened the survival of industries and businesses.
The Leadership of Businessmen Group (BMG) and Karachi Chamber of Commerce of Industry (KCCI), while totally rejecting the unprecedented 80 percent hike in electricity tariff, stated that this unbearable upsurge in electricity tariff has created a miserable situation not only for the public but also for the business and industrial community wherein many businesses and industrial units will close down on their own as it was impossible to absorb such an extraordinary raise in electricity tariffs.
READ MORE: Karachi Chamber stresses need to rationalize power tariff
Addressing a press conference here on Monday, Chairman BMG Zubair Motiwala and President KCCI Muhammad Idrees demanded that keeping in view the gravity of situation and likely repercussions on the already ailing economy, the government must immediately withdraw hike in electricity tariff, Fuel Adjustment Charges (FAC) and reintroduction/ increase in Fixed Charges so that the industries could survive in an extremely competitive environment while the hardships being faced by common man could also be reduced in the ongoing era of inflation.
General Secretary BMG AQ Khalil, Senior Vice President Abdul Rehman Naqi, Former President Younus Muhammad Bashir, prominent members of the Business Community, representatives of Industrial Town Associations and sector-specific trade associations were also present at the press conference.
Chairman BMG stated that it was a matter of grave concerns that the base tariff has been raised by Rs9.8972 per unit, which has jacked up per unit cost from Rs19 to around Rs30 per unit, indicating an unprecedented hike of 50 percent. “This is not the end of the story as this increased electricity base tariff of Rs30 per unit will obviously be subjected to 17 percent Sales Tax, Excise Duty and Income Tax as well and when all these components are combined, an unbearable minimum impact in between 65 percent to 80 percent, would appear in the electricity bills”, he noted, adding that if electricity tariffs continue to go up at same pace, the per unit tariff may reach somewhere in between Rs55 to Rs65 in the next couple of months.
READ MORE: Political parties responsible for Pakistan economic crisis: KCCI
Touching upon another important aspect which has raised the cost of doing business for industries, he informed that variant tariffs have once again been restored for the industries under the policy of Peak and Off-Peak Hours which was suspended in the past and a uniform tariff was applicable throughout the day so that the industries could carry on their production at full capacity without any interruption. “The restoration of peak and off-peak hours is going to create a very difficult situation for the industries as they will either have to curtail their production or suspend operations during peak hours and then reengage labour for resumption of pending work during the remaining non-peak hours which happens nowhere around the world but only in Pakistan where such mess usually surfaces due to poor decisions and policymaking by NEPRA which never listens to consumers and only fully facilitates DISCOs.
He appealed the Prime Minister to look into NEPRA’s matters as many decisions taken by NEPRA were purely against the consumers and in recent history, the regulator has never favored the consumers. As consumers’ point of view was never being taken seriously at the so-called public hearing, NEPRA rules must be redefined and a consumer representative must also be included in NEPRA’s penal for Public Hearings.
He further noted that the industries of Karachi were paying at least Rs10 more than what was being charged from the industries in Peshawar which was a sheer discrimination and clearly gives an impression that policies were being devised in such a manner that the industries in Karachi close down units on their own and move to somewhere else.
READ MORE: Karachi Chamber demands declaring rain emergency
Expressing deep concerns over restoration and increase in Fixed Charges, Zubair Motiwala stated that this was unacceptable as it would further increase the cost of doing business because fixed charges were applicable as per load on operational and inoperative industries who, instead of being encouraged to reactivate operations, will be compelled to stay closed. “It is an imprudent move which was neither in favour of businesses nor the economy as it would refrain the industrialists from reactivating their closed units. Hence, the government must withdraw Fixed Charges to encourage industrialization and ensure creation of maximum employment opportunities.
Chairman BMG demanded that as the entire country suffers badly due to flash floods and all the cities, villages, highways and markets are completely flooded with rainwater hence in this extraordinary situation, the government should come forward and provide relief by pardoning electricity bills for a period of at least two months with a view to support the affectees during the relief and rehabilitation activities which could last during the next two months or may be more. In this regard, any industrial, commercial or domestic consumer with an electricity bill of less than Rs2 million must be pardoned from payment of bill for two months while the electricity bills of other industries must also be deferred at least for three months so that they could take some sigh of relief and reach a point where they are able to settle their outstanding bills, he said, adding that the deferred bills can be charged later in shape of three equal monthly instalments along with current bill from fourth month onwards which would be widely welcomed as it will minimize the burden on industrialists to some extent.
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General Secretary BMG AQ Khalil demanded that as KE’s agreement was about to expire in 2023, the government must look into the possibility of ending KE’s monopoly by unbundling the utility service provider and pave way for more players in the power generation and distribution sector.
President KCCI Muhammad Idrees was of the opinion that this huge impact of around 80 percent in the electricity bills was totally unbearable and unabsorbable by any industry hence, it has to be immediately withdrawn as it was impossible to run any industry at such an inflated cost.
“The industries are already in deep crises because of the devaluing rupee, inflationary trends and eroding buying power of common man whose electricity bills have also been raised higher by at least three times”, he said, adding that neither any industry nor shops or public will be able to bear this burden in the present circumstances.
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Karachi Chamber stresses need to rationalize power tariff
The leadership of Karachi Chamber of Commerce and Industry (KCCI) on Tuesday underscored the exorbitantly high electricity tariffs need to be rationalized as the suggested increased electricity tariffs would prove disastrous for trade, industry, SMEs and the public.
Chairman Businessmen Group (BMG) Zubair Motiwala and President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Idrees, while highly appreciating the Prime Minister for taking notice of public and business community’s complaints/ protests on inflated electricity bills.
In a joint statement, Chairman BMG and President KCCI said that the business community was grateful to Prime Minister Shehbaz Sharif for taking cognizance of the electricity tariff but while we appreciate, we would like to apprise that the abnormal increase would actually prove to be a disaster for the industries, especially Small & Medium Size Enterprises (SMEs) who are purely dependent on electricity and no alternate source including gas was available to these energy-starved SMEs.
READ MORE: Political parties responsible for Pakistan economic crisis: KCCI
This country badly needs SMEs who must be promoted at any cost as it is a well-known fact that SMEs are the backbone of any country’s economy so supporting SMEs should be the highest priority of the government, they added.
They further opined that trade cannot absorb this kind of an exorbitant increase in electricity tariff and the commercial users will suffer badly hence it has to be rationalized. The increase had been suggested when the dollar rate jumped from Rs180 to more than Rs240 which was abnormal and due to foul play of exchange players but now as it has come down and was likely to descend further, therefore the increase in electricity tariff was not making any sense at all.
They mentioned that the Karachi Chamber along with Industrial Associations and all Chambers of Commerce of Pakistan were of similar opinion that exorbitant increase in electricity tariffs cannot be absorbed hence, we urge the Prime Minister that this needs a rational exercise and carefully looked into because it can prove to be fatal for many industries and would lead to enhancing unemployment across Pakistan while the exports will also suffer badly from this behest.”
READ MORE: Karachi Chamber demands declaring rain emergency
They also pointed out that although ECC approved electricity rate at US$9 cent per kWh to export-oriented sectors from August 1, 2022 but this decision was withdrawn which was an imprudent move as the cost of doing business in Pakistan was already too high as compared to regional competitors.
The government must keep in mind that during the last two months, the exports have been constantly decreasing hence, electricity rate at US$9 cents per kWh to export-oriented sectors must continue otherwise the country’s exports would keep on descending and create more problems for the economy particularly the rising unemployment.
While stressing the need to continuously support the exports, Zubair Motiwala and Muhammad Idrees requested that before issuance of any kind of notification, Prime Minister should look into this matter on an urgent basis so that the uncertainty which has been now triggered due to the electricity tariff hike announcement could come to an end.
They also appealed the Prime Minister to look into NEPRA matters as many decisions taken by NEPRA were purely against the consumers and in recent history, the regulator has never favored the consumers. Why is it that all the decisions taken by NEPRA favor DISCOs and KE only.
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This also needs to be seen and the recent decisions of charging FCA and bringing back the fixed charges, which were abolished long time ago but have been arbitrarily reintroduced, must also be deferred.
As consumers’ point of view was never being taken seriously at the so-called public hearing, Chairman BMG and President KCCI demanded that NEPRA rules must be redefined and out of NEPRA’s penal of three judges at the Public Hearings, one should be a representative of consumers through Chamber’s recommendation.
In the end, they reiterated that all actions taken by NEPRA should be remanded back and those in pipeline should also be stopped forthwith.
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SBP assures allowing stuck up containers of banned import
KARACHI: The State Bank of Pakistan (SBP) has assured the business community of allowing to release all the containers with consignments of banned imported goods.
In a statement issued on Monday, President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Idrees said that the State Bank of Pakistan (SBP) has agreed to release all the containers which arrived at the Ports until July 5, 2022 but remained stuck up awaiting approval from SBP.
READ MORE: Pakistan decides to lift ban on imported goods
While referring to a message received from Deputy Governor SBP Dr. Inayat Hussain, President KCCI said that Deputy Governor SBP has assured that all the cases wherein the Bill of Lading is prior to issuance of SBP’s instructions on July 5, 2022 which have been submitted by KCCI will be released within the next 2 to 3 days whereas any other pending request for release of similar stuck-up consignment may also be referred to SBP for timely release.
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Muhammad Idrees said that thanks to the untiring efforts made the leadership of Karachi Chamber, particularly Chairman Businessmen Group Zubair Motiwala who constantly remained in touch with Finance Minister Miftah Ismail and kept convincing him to resolve this matter, relief has finally been provided to perturbed importers which the business community warmly welcomes.
READ MORE: Pakistan allows release of banned items stuck up at ports
He thanked Finance Minister Miftah Ismail for taking keen interest in all the issues being raised by KCCI and issuing prompt directives for resolving the same on top priority which has help in restoring the confidence of the entire business and industrial community.
“This particular step to release stuck up containers along with some other pro-business measures and the government seriousness towards resolving the pressing issues suffered by the economy would ensure that the wheels of the industry keep on spinning without any interruption,” he added.