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  • Industries threaten mass protest against gas supply shutdown

    Industries threaten mass protest against gas supply shutdown

    KARACHI: Industries have threatened the government of across the board protests against suspension of gas supply, which halted industrial activities and is affecting exports.

    Karachi Chamber of Commerce & Industry (KCCI) and Industrial Town Associations, while expressing deep concerns over suspension of gas supply to the industries in Karachi, stated that all the industries were almost closed and the pressure was zero, resulting in bringing the production activities to a complete standstill which would give a serious blow to the exports by terribly affecting the performance of export-oriented as well as general industries, besides triggering massive unemployment and creating chaos.

    READ MORE: Pakistan organizes first international housing expo next month

    In a joint statement, KCCI along with Site Association (SAI), Korangi Association (KATI), F.B Area Association (FBATI), North Karachi Association (NKATI), Site Superhighway Association (SSAI) and Bin Qasim Association (BQATI) appealed Prime Minister Shehbaz Sharif and Energy Minister Shahid Khaqan Abbasi to take notice of the situation and look into the possibility of supplying RLNG to SSGC for domestic usage as being done in case of SNGPL so that the gas crisis being suffered by the industries in Karachi could be averted.

    They stated that the business & industrial community totally rejects gas supply curtailment announced by the SSGC and the Karachi Chamber along with Industrial Town Associations will shortly announce the future plan of action if relief was not provided immediately which may even lead to triggering across the board protests.

    READ MORE: APTMA urges PM to save textile industry from total closure

    Referring to SSGC’s statement in response to a joint press release issued on November 11, 2022 by KCCI and all seven industrial town associations, they said that a meeting was held between SSGC and federally constituted committee comprising representatives of industries from Karachi who gave numerous suggestions, of which one of the suggestion was to either close down gas supply to industries for two day a week or carry out gas load shedding for eight hours a day so that SSGC could maintain its line pack and the industries receive gas for 16 hours a day at required pressure so that they could keep on operating efficiently.

    However, this unfortunately, was not done and later on, without taking the stakeholders on board, SSGC issued a notification/ letter to industries about suspension of gas supply which contained several ambiguities as in the said letter, SSGC has issued a caution for future as well by saying that every year gas supply will remain suspended. Subsequently, it has also been notified that 50 percent of gas supply to captive power plants will also be curtailed without explaining that what will happen to those industries who do not have KE connection or any other source and the process of gas supply suspension to general industries has also not been properly explained.

    READ MORE: Reducing foreign currency cash carrying limits to half criticized

    SSGC must refrain from giving misleading statements in the media by sharing those decisions which were neither discussed nor agreed upon by the federally constituted committee in any of the meetings held to discuss gas crisis, KCCI and Industrial Town Associations urged, adding that several meetings were held in this regard but without taking us into confidence, SSGC has issued improper notification.

    KCCI and Industrial Town Associations, while once again urging the government to take notice, stated that the overall situation was really alarming in Karachi which would terribly affect industrial performance, exports and have a deep negative impact on the economy due to rampant unemployment as suspension of gas for three consecutive months would obviously cause massive layoffs and massive reduction in exports.

    READ MORE: KATI suggests Pakistan, Sri Lanka trade in local currency

  • FBR may withdraw condition of invoice, packing list in containers

    FBR may withdraw condition of invoice, packing list in containers

    KARACHI: Federal Board of Revenue (FBR) may withdraw the mandatory condition of invoice and packing list in containers for subsequent examination and customs clearance.

    Asim Ahmad, chairman, Federal Board of Revenue (FBR) during his visit to Karachi Chamber of Commerce and Industry (KCCI) on Saturday responding on the issue of placement of invoice and packing list in containers of import cargo.

    The FBR Chairman, while totally agreeing to the business community, stated that FBR was well aware of this issue and has carried out an extensive exercise to understand it in light of global practices and found business community’s concerns valid. “The FBR was looking into to the possibility of withdrawing this condition,” according a statement issue by the KCCI quoting the FBR chairman as saying.

    READ MORE: Customs Enforcement announces auction of vehicles on Nov 09, 2022

    Regarding customs valuation, he said that the entire process of valuation was being revamped which will be following the international market-based concept and the relevant law, in this regard, has already been amended.

    Several international publications were regularly posting prices of different types yarns from several origins/ countries which will be electronically linked with the revamped Valuation System wherein valuations will be regularly according to current international yarn prices, he added while speaking at a meeting during his visit to the Karachi Chamber of Commerce & Industry on Saturday.

    Chairman FBR, while referring to concerns expressed over unnecessary/illegal raids, assured to discuss the issue with DG Customs Intelligence and advised the members of business community to bring all such cases of unjustified raids to FBR’s notice so that action could accordingly be taken. A circular was also issued on 19th October wherein all FBR Field Formations have strictly been advised not to conduct raids.

    Commenting on issues emerging due to exemptions on import of black tea for FATA, PATA and Azad Kashmir, Asim Ahmed agreed that the exemptions were being misused but these exemptions will be ending on June 30, 2023. FBR devised a mechanism last year wherein, quota was fixed for these areas according to their production capacity. “It is now the stakeholders who should tell the FBR whether the situation has improved or not.” In response, the relevant importers informed that it was the other way around as imports have risen in these areas.

    READ MORE: FBR auctions confiscated immovable properties on Nov 15, 2022

    Touching upon the issue of placement of invoice and packing list in containers of import cargo, Chairman FBR, while totally agreeing to Chairman BMG’s remarks, stated that FBR was well aware of this issue and has carried out an extensive exercise to understand it in light of global practices and found business community’s concerns valid therefore, the FBR was looking into to the possibility of withdrawing this condition.

    He further mentioned that withholding tax on inward remittances of indenters’ commission has been reduced from 5 percent to 1 percent in this year’s budget while the 13 percent Sales Tax being paid to the provincial exchequer will be discussed with Sindh Revenue Board.

    The chairman said that some delays in release of refund claims was occurring but a tranche has recently been released on 2nd November. The business community should carefully submit refund claims as many refund claims get delayed if marked deferred by the system.

    “FASTER system has been working smoothly yet if anyone faces delays in receiving refunds, they can seek assistance from FBR”, he added.

    He also advised all the Chief Commissioners to maintain complete coordination and liaison with the Karachi Chamber so that the grievances being faced by the business community in getting their taxation issues resolved could be minimized. He also promised to resolve the issues being faced by yarn trader period who are not allowed to claim refunds before 14 months while the 7.5 percent difference in duties/ taxes between the commercial and industrial importers of polyester yarn will also be reduced.

    Chairman Businessmen Group Zubair Motiwala, Vice Chairman BMG Jawed Bilwani, President KCCI Muhammed Tariq Yousuf, Senior Vice President Touseef Ahmed, Vice President Muhammad Haris Agar, Former Presidents Younus Muhammad Bashir, Iftikhar Ahmed Vohra and Muhammad Idrees, Former President Vice President Muhammad Ibrahim Kasumbi, President Site Association of Industry Riaz Uddin, Member Customs-Operations FBR Mukarram Jha Ansari, Chief Commissioner Dr. Aftab Imam and KCCI Managing Committee along with Senior FBR Officials were also present at the meeting.

    READ MORE: FBR issues circular to relax income tax return filing deadline

    Chairman BMG Zubair Motiwala, in his remarks, highly appreciated the present team of FBR for its extraordinary efforts in dealing with the FATF issue that resulted in Pakistan’s exit from the grey list. He said, “Things are moving in the positive direction as far as FBR is concerned but there are some issues which have remained chronic since so many years and these were not being addressed by the FBR. All these issues, which are hardly 4 to 5 in numbers, having no major impact on revenue should be resolved at the earliest so that the businesses as well as the economy starts performing.”

    He said that the Chapter 84 and 85 have brought the entire work to a complete halt and it was a matter of grave concerns that around 7,000 applications were in KCCI’s possession which have been lying pending only due to delays in approval from the State Bank of Pakistan. Stopping imports of essential raw materials, spare parts and even solar panels was not making any sense which have to be allowed so that the industrial wheels keep on spinning without any interruption.

    Zubair Motiwala was of the view that around US$3 to US$4 billion remain parked abroad which people simply don’t want to remit to Pakistan because of the exorbitant taxes on indenting commission hence, these taxes should be waived so that the desperately needed foreign reserves could be brought to Pakistan.

    Appreciating FBR’s move to revamp the valuation system, Zubair Motiwala advised to expedite the process with a view to provide some relief to the business community. “As the country faces severe energy crises, the import of solar panels has to be allowed without any hindrances which would be a great service to this nation”, he said, adding that around 650 vehicles which have already been imported and were lying at the ports must also be cleared by lowering the recently imposed 100 percent extra duty at the earliest.

    On the occasion, Vice Chairman BMG Jawed Bilwani stated that the FASTER system for refund claims was working absolutely fine after its launch but the business community has now been facing a lot of issues in getting their refund claims issued on time which often creates liquidity problem and needs to be addressed. “As per law, all refund claims must be processed within 72 hours so that the business community could not face any liquidity issues.”

    READ MORE: Withholding tax rates on immovable property transactions during 2022-2023

    President KCCI Tariq Yousuf, while welcoming Chairman FBR, pointed out that Karachi’s share in GDP was around $165 billion, which was 43 percent of Pakistan’s national economic size & was projected to hit $193 billion in 2025. “Karachi’s role in Pakistan’s economic growth has been phenomenal & is growing at a tremendous pace. However, the ongoing economic issues, high cost of doing business & taxation matters have been affecting the productive capacity of the private sector whose competitiveness has been deteriorating”, he added.

    He was of the view that the high amount of tax cost for businesses, particularly the SMEs should be a matter of great concern for policymakers as this has been affecting Pakistan’s growth potential.

    While appreciating Chairman BMG Zubair Motiwala for his remarkable job as Chairman of the Anomaly Committee for Business, he said that out of various recommendations agreed by the then finance minister and Chairman FBR along with his team, many issues were still pending which need to urgently resolved with a view to create an enabling environment for sustainable economic growth.

  • Karachi Chamber welcomes Dar’s decisions

    Karachi Chamber welcomes Dar’s decisions

    Karachi Chamber of Commerce and Industry (KCCI) on Tuesday welcomed the decisions of Finance Minister Ishaq Dar regarding keeping oil prices unchanged, extending return filing date and enhancing threshold for payments of letter of credit.

    KCCI President Mohammed Tariq Yousuf appreciated Finance Minister Ishaq Dar’s announcement to keep petroleum prices intact and extent last date for filing Income Tax Return till November 30, 2022.

    READ MORE: KCCI demands one month date extension for return filing

    He said that the business community warmly welcomed these announcements and the determination being exhibited by government to pay special attention to the issues and recommendations being given the business & industrial community.

    Yousuf said that the Finance Minister’s decision to raise the LCs limit from $50,000 to $100,000 was undoubtedly a pro-business move which was being demanded by the Karachi Chamber since long.

    READ MORE: Furniture retailers want fixed tax regime

    “This would help in expediting 8,000 cases of suspended Letters of Credit (LCs) and we are delighted to see that the State Bank has been directed to start clearing this LCs from today,” he added.

    He was of the opinion that the government was trying its best to provide relief to the business and industrial community despite facing severe economic challenges.

    READ MORE: KCCI advises importers to manufacture motorcycle spare parts

    Thanks to the sincere efforts being made by Finance Minister, Pakistani rupee had one of the strongest performances in Asia in October, rising by 3.3 percent against the dollar. “Effective strategies have to be defined and implemented to bring down dollar below Rs200 level which would provide a huge relief to our economy which is overburdened with foreign debts.”

    He further suggested that Fuel Adjustment Surcharge being charged from the industry needs to be rescinded as the same was creating issues for the General Industry and SMEs who were the backbone of country’s economy and need to be protected.

    READ MORE: Karachi Chamber urges allowing imports from India

  • KCCI demands one month date extension for return filing

    KCCI demands one month date extension for return filing

    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.

    (more…)
  • Furniture retailers want fixed tax regime

    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.

    READ MORE: KCCI managing committee candidates elected unopposed

    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.

    READ MORE: Date extension demanded for electricity bills payment

    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.

  • KCCI advises importers to manufacture motorcycle spare parts

    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.

    READ MORE: KCCI managing committee candidates elected unopposed

    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.

    READ MORE: Date extension demanded for electricity bills payment

    “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.

    READ MORE: Power tariff hike termed disaster for industries

    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.

  • FBR advised to extend tax return filing date for three months

    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

  • Karachi Chamber urges allowing imports from India

    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.

    READ MORE: KCCI managing committee candidates elected unopposed

    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.

    READ MORE: Date extension demanded for electricity bills payment

  • KCCI managing committee candidates elected unopposed

    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.

    READ MORE: Date extension demanded for electricity bills payment

    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.

    READ MORE: Power tariff hike termed disaster for industries

    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

  • Date extension demanded for electricity bills payment

    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.

    READ MORE: Clearance of banned cars, phones allowed on 100% surcharge

    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