Pkrevenue.com

Tag: KCCI

  • 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 resents FBR’s decision to install surveillance cameras

    Karachi Chamber resents FBR’s decision to install surveillance cameras

    The Karachi Chamber of Commerce and Industry (KCCI) has expressed strong discontent over the recent decision by Federal Board of Revenue (FBR) to monitor production activities through cameras directly connected to the main tax database.

    (more…)
  • Karachi Chamber disagrees with FBR tax collection analysis

    Karachi Chamber disagrees with FBR tax collection analysis

    KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has expressed disagreement with the analysis released by the Federal Board of Revenue (FBR) regarding tax collection by cities and markets.

    Agha Shahab Ahmed Khan President KCCI in a statement on Tuesday expressed total mistrust over the statistical figures recently disclosed by the FBR in its Tax Directory Analysis 2018.

    He said that FBR recently released an analysis of Tax Directory 2018 based on income tax, in which it made some claims which were based on partial information creating a wrong perception about the income tax collection from different cities while some important information was skipped by which a reader could have verified the data.

    President KCCI noted that under this report, Karachi’s income tax collection was reported to be Rs209 billion while district-wise it revealed that Karachi contributed Rs186.3 billion (Karachi Central added Rs9.06 billion; Karachi East: Rs34.09 billion; Karachi South: Rs114.23 billion, and Karachi West contributed Rs28.89 billion) which clearly indicates a discrepancy of Rs23 billion. It was unclear whether Karachi’s share was Rs209 billion in total or the district wise collection was to be added to it.

    “This mismatch in income tax collection figures has raised serious doubts amongst business circles who are terming it as yet another conspiracy against Karachi.”

    Likewise, he pointed out that the province-wise share was only revealed in percentage terms and the total value was not disclosed anywhere in the document to authenticate the claims.

    Even while disclosing the income tax collection from major markets, many important markets including the DHA’s Gold Mark & Khadda Market and other important markets of Malir, Korangi, Banaras and Bahria Town etc. were not included in the data which gave a wrong impression that the tax collection from Karachi is low in comparison of other cities.

    President KCCI further stated that the selected market data of the cities constituted just 25.7 percent (413,859 filers out of 1,606,424 non-salaried individuals and AOP filers), making it an incorrect estimate of the size and share of any city. President KCCI added that the data analysis given by FBR is just a number game and it is an attempt to undermine the share of Karachi.

    According to the said document, the income tax collection of Rs209 billion from Karachi is very close to Rs204 billion collection from Islamabad which is impossible keeping in view the size, population and the immense industrial & economic activities in Karachi.

    “We totally disagree to FBR’s analysis as Karachi is a port city where most of the Head Offices of multinational companies, banks, DFIs and insurance companies etc. are based while the highest number of institutions, hundreds of commercial markets, shopping malls and plazas etc. are also present in this city, making it the country’s leading industrial and commercial hub.

    How could Islamabad with a population of just 1 million and negligible industrial activity compete with Karachi which holds a whopping population of around 20 million that makes it one of the largest cities of the world with seven industrial zones hosting thousands of industrial units?

    He said: “Such pitiful attempts had been made in the past as well which were widely protested and completely rejected by KCCI and it has been proven from time to time that Karachi contributes the highest revenue of around 65 percent revenue to the national exchequer which has also admitted by the decision makers like Federal Minister Asad Umer and many others.

    Karachi has always been the leading contributor of revenue to the national exchequer, hence we fear that FBR’s figures have been finalized cunningly through statistical juggling and it is a conspiracy to tone down the significance of Karachi which will not be accepted and widely protested at all available platforms”, Agha Shahab warned.

    He requested Prime Minister Imran Khan and his entire team of economic experts to look into this serious matter and grill the FBR for releasing such an irresponsible analysis, besides directing the revenue collection authority to immediately withdraw the fabricated analysis and issue a revised version which must carry comprehensive and accurate fact and figures about Karachi.

  • KCCI rejects electricity tariff hike, demands immediate withdrawal

    KCCI rejects electricity tariff hike, demands immediate withdrawal

    KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has rejected the recent hike in electricity tariff and termed it disaster for the industry.

    The chamber also demanded the government to immediate withdraw the increase in electricity tariff.

    KCCI President Agha Shahab Ahmed Khan in a statement on Thursday said that the announcement of increase in rates of electricity ranging from Rs.1.09 to Rs.2.89 has come as a shock to the industries based in Karachi.

    “This is yet another blow to the trade and industry which is already suffering from losses as a result of lockdowns during Covid-19 pandemic and again due to devastating rainfalls in the city which has caused losses in billions of rupees,” he added.

    He urged Advisor to Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh to immediately withdraw this unjust and ill-timed hike in electricity tariff which would further aggravate the hardships for Karachiites who are struggling really hard to recover from devastating impact of coronavirus pandemic and subsequently the massive damage to their assets including buildings, warehouses, machinery and materials.

    The damage is yet to be assessed when the water is cleared and some normalcy is restored.

    He pointed out that ECC and higher authorities have shown utter disregard for the miseries and losses suffered by people of Karachi, by approving yet another electricity tariff hike because ECC had already imposed a tariff increase in July this year by Rs2.89 per with immediate effect.

    Before the industrial, commercial and residential consumers could absorb the tariff hike in July’ 2020, yet another increase was approved to further squeeze the consumers in a calamity hit city.

    “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 today is passing through worst possible crisis and suffering due to a crumbling infrastructure, lockdowns and urban flooding due to the heaviest rainfall in 90 year history”, he added.

    On the one hand, the Prime Minister and Army Chief have shown their resolve to rescue the city of Karachi from complete destruction and economic fallout of natural as well as man-made disasters, while the ECC and honorable Advisors are taking decisions which are contrary to the commitments made by the Prime Minister and COAS, he opined.

  • Industry rejects cut in gas supply; terms anti-business move

    Industry rejects cut in gas supply; terms anti-business move

    KARACHI: Karachi Chamber of Commerce and Industry (KCCI) on Friday strongly rejected the cut in gas supply for industrial consumers and CNG stations.

    Chairman Businessmen Group (BMG) and Former President KCCI Siraj Kassam Teli and President (KCCI) Agha Shahab Ahmed Khan, while totally rejecting SSGC’s load shedding schedule for Industrial Consumers and CNG Stations, stated that this unjust and anti-business move would completely destroy the industries who are already going through the toughest time and questing really hard for survival particularly in an extraordinary situation caused by coronavirus pandemic.

    In order to overcome the ongoing electricity load shedding, SSGC has announced to carry out gas load shedding for three days to be suffered by industrial consumers, captive power plants and CNG stations which would prove detrimental for the industries who are already in deep crises and at the verge of complete collapse due to negative impact of lockdown imposed since March 2020, Siraj Teli and Agha Shahab said while terming SSGC’s load shedding as ‘sheer injustice’ and ‘conspiracy’ against the city of lights which is deliberately being plunged into darkness.

    They pointed out that the government has always reiterated its resolve to provide uninterrupted electricity and gas supply to five export-oriented zero-rated sectors which hardly cover up around 1300 to 1500 industries but what about the rest of 14,500 industries, out of a total number of 16,000 industries in Karachi which continue to remain deprived as no relief has ever been given and they, despite being taxpayers, have to bear all the anguish and go through gas and electricity load shedding, exorbitant tariffs, infrastructure and other civic issues.

    Instead of providing relief to all the industries in the ongoing extraordinary situation, the ECC recently approved Rs2.89 per unit tariff hike in KE Bills and now the hardships would aggravate further as the business community is being compelled to face gas load shedding for three days a week which is unacceptable, they added.

    They criticized that if the government has to create so much trouble through such anti-business policies then they should formally make an announcement once and for all that all the industrialists should immediately shut down their factories forever and go somewhere else.

  • KCCI rejects extension in lockdown

    KCCI rejects extension in lockdown

    KARACHI: Business community on Wednesday rejected the extension in lockdown till July 15, 2020 by the Sindh government and said that procedures should be laid down to allow business activities.

    Karachi Chamber of Commerce and Industry (KCCI) said urged the provincial government to withdraw the notification immediately.

    In a statement Siraj Kassem Teli, chairman Businessmen Group and former president KCCI and Agha Shahab president KCCI rejected the extension in lockdown.

    Sinch March 23, 2020 the Sindh government imposed partial lockdown to prevent spread of coronavirus. At least 213,467 confirmed cases of coronavirus have been reported up to July 01, 2020 in the country. Besides, the pandemic claimed 4,395 lives to date.

    The KCCI said that restaurants, marriage halls, beauty parlors, cinemas etc. were shut for the last four months and their business were almost on verge of collapse.

    They said that due to the continuous lockdown these businesses would close down and it would result in mass unemployment.

    They urged the provincial government to allow opening of all businesses with strict Standard Operating Procedures (SOPs). They said that if through administrative measure an effective lockdown had been imposed then why not in case of implementing the SOPs.

    The provincial government should realize problems of business community and resolve those on priority basis.

  • KCCI urges K-Electric to stop load shedding

    KCCI urges K-Electric to stop load shedding

    KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has expressed serious concerns of electricity shortfall which caused massive losses to trade and industry.

    Agha Shahab Ahmed Khan, President KCCI urged the K-Electric to immediately stop the ongoing load shedding spell and focus on improving the infrastructure, particularly power generation capacity and distribution network which is in a terrible state.

    In a statement issued, Agha Shahab pointed out that due to K-Electric’s poor performance, almost all the localities of Karachi and also the seven industrial zones have to suffer unannounced load shedding and power failures every day for many hours that results in substantial losses.

    “The industries have suffered badly due to the outbreak of coronavirus and the subsequent lockdown for more than two months and now, K-Electric has also resorted to massive load shedding, which poses threat to the already staked survival of industries,” he said and asked ‘What is the motive behind carrying out immense load shedding in an extraordinary situation?’

    “The unannounced and prolonged load shedding by K-Electric would prove to be the last nail in the coffin of industries and the economy”, he opined and added that People from different walks of life, who have been inhabiting in various localities, sought KCCI’s assistance to exert pressure on K-Electric’s management so that uninterrupted power supply in every area could be ensured.

    He stressed that K-Electric must adopt measures on war footing to minimize the hardships being suffered by the citizens and the business community of the largest city of Pakistan which contributes a lion’s share of more than 70 percent revenue to the national exchequer. Karachiites are already under tremendous mental pressure due to coronavirus pandemic and their sufferings multiply further when they have to go through prolonged load shedding every day and night.

    President KCCI said that K-Electric has been earning huge profits of billions of rupees every year but unfortunately, it has not been adequately investing on improving the dilapidated distribution network which was in a very bad shape as every year whenever the electricity demand shoots up in the city during summer season, K-Electric fails to deal with the situation and the public pays the price for this failure in shape of load shedding.

    Agha Shahab further advised that as Monsoon season is just ahead and heavy rainfalls have been forecasted by the Metrological Department, K-Electric must act sensibly and responsibly, avoid repeating mistakes and adopt stringent measures to ensure uninterrupted and safe power supply during the rainy season. “Dozens of people were electrocuted during last year’s Monsoon season and the same situation may happen this year as well because no safety measures have been adopted so far hence K-Electric’s management must take up this matter on priority and devise effectively strategies to save precious lives in case the city undergoes torrential rains”, he added.

    Agha Shahab requested Prime Minister Imran Khan, Governor Sindh Imran Ismail, Chief Minister Sindh Murad Ali Shah and other concerned ministers at the Federal and Provincial levels to review the situation and issue strict directives to K-Electric to improve its infrastructure and ensure uninterrupted power supply to public and also the business and industrial community who are already suffering terribly because of the outbreak of coronavirus pandemic.

  • KCCI declares policy rate cut insufficient

    KCCI declares policy rate cut insufficient

    KARACHI: Karachi Chamber of Commerce and Industry (KCCI) is not satisfied with one percent interest rate cut by the State Bank of Pakistan (SBP) and said it is very little reduction.

    Chairman Businessmen Group (BMG) and Former President Karachi Chamber of Commerce & Industry (KCCI) Siraj Kassam Teli and President KCCI Agha Shahab Ahmed Khan, have expressed disappointment over a meager reduction of just one percent in Policy Rate by the State Bank of Pakistan, terming it “too little, too late”.

    They stated that for a long time even before the pandemic, KCCI has consistently demanded to bring the policy rate to down to 4 percent in one go rather than in instalments.

    Reduction in policy rate in bits and pieces did not provide the much needed thrust to economy whereas a one-time major reduction to 4 percent could have triggered growth and accelerated economic activities.

    Reduction in policy rate in bits and pieces is not enough to provide stimulus to the economy hence, it is necessary to significantly reduce the interest rate in a single step, to rescue the trade and industry which is going through an unprecedented crisis.

    Revision in policy rate to 7 percent will effectively mean the interest rate for large scale borrowers will be 8 percent to 9 percent after adding the bank’s spread while it will not be less than 10 percent to 12 percent for smaller entities.

    In a statement, Siraj Teli and Agha Shahab pointed out that the business and industrial community is going through difficult times and many will not be able to survive through the economic crisis.

    Nearly all major economies have supported businesses by reducing their policy rates to as low as zero percent realizing the gravity of a global economic meltdown and its impact on businesses.

    It is surprising that the decision makers at the SBP and the governor do not have the perception of ground realities of Pakistan and the serious economic challenges the country will have to face in the near future if growth does not pick up soon.

    They opined that there is now ample justification for meaningful reduction in policy rate because the inflation has declined sharply due to a steep fall in prices of crude oil, commodities and raw materials, while the demand has also been suppressed.

    Therefore, it is imperative to support the business and industrial community at such a critical time through further reduction in policy rate.

    Chairman BMG and President KCCI underlined the fact that KCCI had expressed reservations to the Prime Minister of Pakistan on various occasions and also to Governor State Bank of Pakistan during his last visit to KCCI before pandemic about astronomically high interest rates which stifled growth and increased cost of doing business.

    They hoped that realizing the gravity of the situation, the State Bank would once again review its Monetary Policy at the earliest and revise the policy rate downward by another 300 basis points to provide much needed thrust to economy and trigger growth in the face of upcoming challenges created by Covid-19 pandemic that has affected the entire world.

  • KCCI submits recommendations to rectify anomalies in Finance Bill 2020

    KCCI submits recommendations to rectify anomalies in Finance Bill 2020

    KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has submitted its recommendations to rectify anomalies in the Finance Bill 2020, highlighting concerns over several taxation measures impacting trade and industry.

    (more…)