Karachi Chamber of Commerce and Industry (KCCI) on Saturday urged shipping lines and terminal operators to waive demurrage and detention charges to stuck-up containers at ports.
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KCCI hails decision to waive demurrage, port charges
Karachi Chamber of Commerce and Industry (KCCI) on Tuesday appreciated the government decision to waive demurrage and port charges on all stuck up containers.
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Pak-Iran businessmen stress finalizing free trade agreement
KARACHI: Businessmen of Pakistan and Iran have stressed upon finalizing Free Trade Agreement (FTA) between the two neighboring countries in order to explore true potential of trade.
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K-Electric fails to improve power generation: NEPRA Chief
KARACHI: Touseef Hassan Farooqi, Chairman, National Electric Power Regulatory Authority (NEPRA) has said that K-Electric failed to improve power generation.
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Turkiye sees more investment opportunity in Pakistan
KARACHI: Commercial Attaché of the Republic of Turkiye Eyyup Yildirim has said that several Turkish companies have invested around $2 billion in numerous sectors of Pakistan’s economy
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Banks refuse opening LCs despite condition withdrawal: KCCI
Karachi Chamber of Commerce and Industry (KCCI) in a statement issued on Thursday stated that banks are refusing opening the Letter of Credit (LCs) for import proceeds despite condition withdrawal by the central bank.
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Karachi Chamber demands deferring date for payment under Section 7E
Karachi: The Karachi Chamber of Commerce and Industry (KCCI) has urged the authorities to extend the deadline for payment under Section 7E of the Income Tax Ordinance, 2001.
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Karachi Chamber warns mass job cuts due to economic crisis
KARACHI: Karachi Chamber of Commerce and Industry (KCCI) on Friday warned the government of mass job cuts due to prevailing economic crisis.
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Business community mourns demise of SM Muneer
KARACHI: Business community has mourned the demise of renowned business leader SM Muneer, who died yesterday on November 28, 2022.
S.M. Muneer business leader of Pakistan who have walked through hard time and become an example to entire Pakistani entrepreneur. The start from the rise of his Din Group of Companies as one of the major business groups in the country is the story of almost 50 years of hard work and perseverance.
The leadership of Businessmen Group (BMG) and Karachi Chamber of Commerce & Industry (KCCI), while expressing deep grief and sorrow on sad demise of Chairman Din Group & United Business Group (UBG) SM Muneer, stated that Late SM Muneer will always be remembered not only by the business community of Karachi but the entire Pakistan for his valuable services to the country.
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In a joint statement, Chairman Businessmen Group Zubair Motiwala, Vice Chairmen BMG Tahir Khaliq, Haroon Farooki, Anjum Nisar, Jawed Bilwani, General Secretary BMG AQ Khalil, President KCCI Mohammed Tariq Yousuf, Senior Vice President Touseef Ahmed and Vice President Muhammad Haris Agar stated that Late SM Muneer was a good human being who generously contributed to dedicatedly serve the humanity as he was an active philanthropist. His sad demise has undoubtedly created a vacuum in business politics as he was a person who always raised a strong voice for the rights of business & industrial community.
While extending heartfelt condolences to members of the bereaved family members, friends and well-wishers of Late SM Muneer, BMG & KCCI Leadership prayed that may Almighty Allah place the departed soul in Jannat ul Firdous and grant courage to all of them to bear this irreparable loss.
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Chairman BMG Zubair Motiwala, who recently assumed charge of Trade Development Authority of Pakistan (TDAP) as its Chief Executive, said that SM Muneer visited TDAP office just two days ago to congratulate him on taking over his new assignment at TDAP. “Late SM Muneer, besides discussing matters of mutual interest, gave valuable advises for improving the exports”, he added and prayed that may Almighty Allah grant higher ranks to Late SM Muneer in Jannat ul Firdous.
Faisal Moiz Khan, President North Karachi Association of Trade & Industry (NKATI), SVP Shabbir Ismail, VP Naeem Haider, Akhtar Ismail, Sadiq M, Imran Moiz and Younus Khamisani, have expressed their grief and sorrow over the sad demise of S.M. Munir Bhai Jan. They termed a big loss for the business community.
In a statement, NKATI leaders were of the opinion that S.M. Munir’s outstanding services to the business community will always be remembered.
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They prayed that Almighty Allah may grant courage to the members of bereaved family to bear this irreparable loss with fortitude and the departed soul may rest in eternal peace.
Former President and Patron in chief SITE Zubair Motiwala, Former President and Chief Coordinator Saleem Parekh, Former President Jawed Bilwani, President Riaz Uddin and office bearers of SITE Association of Industry, have, condoled the sudden demise of KATI Patron-in-Chief S.M. Muneer.
The leaders said that the passing away of S.M. Muneer has created a vacuum in business politics. He was a good human being and his services were acknowledged by the President of Pakistan who conferred on him ‘Sitara-e-Isaar’ and ‘Sitara-e-Imtiaz’ in recognition of his outstanding public service for the cause of humanity.
Zubair Motiwala said that a few days ago, (late) S. M. Muneer came to meet & greet him on his appointment as CEO, TDAP.
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They have prayed to the almighty Allah to rest the departed soul in eternal peace, grant him place in ‘Jannatul Firdaus’ and give strength & fortitude to the bereaved family to bear this irreparable loss with equanimity.
M. M. Zubair Motiwala, Patron-in-Chief All Pakistan Textile Processing Mills Association (APTPMA), has expressed heartfelt condolence on the sad demise of SM Muneer, leader of business community.
May Allah the Almighty, rest the departed soul in eternal peace and grant strength, courage and fortitude to the breaved family of Mr. SM Muneer to bear this irreparable loss, Ameen!
“WE ARE FROM ALLAH, TO WHOM WE RETURN”
He said that SM Muneer will be long remembered as a man of conviction and commitment. His demise would create vacuum in business community. May Allah rest his soul in peace!
Pervaz Lala, Chairman APTPMA, Mr. M. Imran, Regional Chairman, Mr. Amjad Jalil, Sr. Vice Chairman, Mr. M. Iqbal Arbi, Saleem Parkeh, former Chairman APTPMA, M. Arif Lakhani, Sikander Imran, Anwer Aziz, all Members Executive Committee and other senior members of the Association have condoled the sad demise. May Allah rest his soul in peace.
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Qatari envoy highlights FIFA World Cup 2022 arrangements
KARACHI: Consul General of Qatar Mishal Mohammad Ali Al-Ansari has highlighted arrangement for FIFA World Cup 2022 in Qatar, kicking off this Sunday November 20, 2022.
During his visit to Karachi Chamber of Commerce and Industry (KCCI), Qatari CG informed that the State of Qatar was ready to welcome friends and visitors from around the world which will kicks off this Sunday, November 20th, and the matches will take place in eight outstanding stadiums in which Qatar was expecting more than 3 million spectators who will be in Qatar to watch this historical event.
“A lot of work has been done to prepare, overprepare and go beyond to make sure that everything goes on smoothly. All sectors including security, hotels, rooms and transportation etc. have been fully covered while Pakistan Army’s staff is also part of the security team”, he said, adding that to be on the safe side, three cruise ships have also been booked of which two have already arrived in Qatar to accommodate visitors in case all the hotels in Qatar were fully booked.
He said: “These gigantic cruise ships comprising of 26 floors and having 1,000 rooms each are already docked whereas thousands of luxurious tents having rest rooms and bed rooms have also been established in the desert as it is a totally different world cup in which all the matches will be played in eight stadiums situated in one city and away at a distance of half-an-hour from each other.
“Of course, it’s going to be a month of festivities and the people have already started pouring into Qatar from Argentina, Brazil and Europe so it’s a big party scene now.”
Qatar stood in solidarity with the people of Pakistan during this year’s flashfloods and torrential rains. “As our sympathies are for those who have lost their livelihood, several Qatari aircrafts carrying hundreds of tons of emergency relief aids arrived in our brotherly country under the directives of His Highness Sheikh Tamim bin Hamad Al Thani and the humanitarian support from Qatar continues to date which demonstrates our commitment.”
Qatar is Pakistan’s thirteenth biggest trade partner and in 2021, the bilateral trade volume between the two brotherly countries was over $2.73 billion which continues to show steady growth.
“Qatar and Pakistan have well established relations which are based on shared religion, culture, abilities and geographical proximity”, he added.
Referring to last year’s meeting in August in Diwan-e-Amiri, Doha between Qatar’s Emir Sheikh Tamim bin Hamad Al Thani and Prime Minister Shehbaz Sharif, he said that both leaders besides stressing on the importance of brotherly and strategic relations, expressed aspirations to enhance economic partnership, bilateral trade exchanges and investments promotion through Qatar Investment Authority. “In this regard, Qatar Investment Authority announced to invest US$3 billion various commercial and investment sectors in Pakistan.”
President KCCI Mohammed Tariq Yousuf, Senior Vice President Touseef Ahmed, Vice President Muhammad Haris Agar, Former President Majyd Aziz and KCCI Managing Committee Members were also present on the occasion.
President KCCI Mohammed Tariq Yousuf, while welcoming the Qatari Consul General, stated that Pakistan and Qatar enjoy strong, bilateral, social, political & economic relationship. “Pakistan has sent over 1.1 million workers abroad during the last three years despite COVID-19 pandemic, out of which 53,000 plus workforce were exported to Qatar”, he noted, adding that both countries must work together to develop capacity building of Pakistan’s skilled workforce to match the requirements of employers abroad with a view to improve remuneration for Pakistani expatriates.
He said that trade volume between both countries has skyrocketed to new heights as compared to previous years on account of the LNG supply agreement. “We urge Qatari investors to invest in Pakistan’s petroleum industry to develop the LNG domestic market which holds tremendous opportunities for foreign investments.”
Tariq Yousuf urged that as Qatar was one of the top Liquified Natural Gas (LNG) suppliers in the world and Pakistan was currently facing severe energy crises, Qatar’s authorities must supply LNG to Pakistan on a priority basis to address the shortages.
Underscoring the need to strengthen bilateral economic cooperation through enhanced interaction between private sectors, he noted that Pakistan’s exports to Qatar stood at $196.6 million in FY22 as compared to $149.8 million in FY21, reflecting growth of over 31% on-year-on-year basis while Pakistan’s imports from Qatar appreciated to $2.68 billion in FY22 as compared to $1.32 billion in FY21, reflecting growth of over 100 percent on-year-on-year basis.
Urging Qatari investors to explore the opportunities available in CPEC, he said that Pakistan has tremendous investment opportunities in Energy, Transport Infrastructure, Gwadar, Socio-Economic Development, Science & Technology & Agriculture Cooperation.
“Qatari investors can capitalize on advancing energy-related cooperation, promoting trade and investment ties, exploring opportunities & joint ventures in Pakistan’s energy, aviation, agriculture and livestock, maritime, sports & hospitality sectors, which will pave way for further strengthening Pak-Qatar economic relationship.