KARACHI: The Karachi Chamber of Commerce & Industry (KCCI) has raised serious concerns over the burgeoning backlog of consignments at the nation’s ports, with KCCI President Muhammad Jawed Bilwani calling for urgent intervention to prevent mounting demurrage and detention costs that are weighing heavily on the business community.
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KCCI Urges PM to Reject OGRA’s Proposed Gas Tariff Hike
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has strongly appealed to Prime Minister Shehbaz Sharif to reject the Oil and Gas Regulatory Authority’s (OGRA) proposed increase in gas tariffs.
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KCCI Expresses Disappointment Over Meagre Interest Rate Cut
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) expressed its disappointment over the limited 200 basis points reduction in the interest rate by the State Bank of Pakistan (SBP) on Monday.
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Traders Lambast KE for Monopoly in Karachi Electricity
Karachi, December 13, 2024 – President of Markazi Tanzeem-e-Tajran Pakistan, Muhammad Kashif Chaudhry, strongly criticized K-Electric (KE) for its monopolistic practices and inadequate service, urging the Karachi Chamber of Commerce and Industry (KCCI) and all trade associations to launch a concerted initiative aimed at addressing the challenges faced by Karachi’s citizens.
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KCCI Presses SBP for Drastic 400bps Interest Rate Cut
Karachi, December 12, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) on Thursday called on the State Bank of Pakistan (SBP) to implement a drastic 400 basis points (bps) cut in the upcoming monetary policy announcement. The demand follows a significant decline in inflation, which dropped to 4.86% in November 2024, marking its lowest level in recent years.
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PSW Shares Upcoming Integrations for Swift Clearance
Karachi, December 5, 2024 – Pakistan Single Window (PSW) has announced a series of initiatives aimed at streamlining processes and integrating various organizations and stakeholders to ensure swift and efficient clearance for businesses. These efforts are designed to simplify the clearance procedures for the trade community by enhancing coordination between regulatory bodies, service providers, and other key players.
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KCCI Demands Removal of MRP Tea Valuation for Tax Collection
Karachi, December 2, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has urged the authorities to remove the Minimum Retail Price (MRP) regulation from the tax valuation of tea. In a statement issued on Monday, KCCI President Muhammad Jawed Bilwani expressed strong opposition to the recent decision by the Federal Board of Revenue (FBR) to set the MRP of Rs1200 per kg on the import of black tea in bulk, which is then subject to sales tax and withholding tax.
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UAE Consul General Celebrates 53rd National Day at KCCI
Karachi, November 28, 2024 – The Consul General (CG) of the United Arab Emirates (UAE), Bakheet Ateeq Al Rumeithi, celebrated the 53rd National Day of the UAE at an event organized by the Karachi Chamber of Commerce & Industry (KCCI), emphasizing the deep-rooted friendship between the UAE and Pakistan.
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High Tax Rates in Pakistan Impede Swedish Investment: Envoy
KARACHI: The Ambassador of Sweden, Ms. Alexandra Berg von Linde, highlighted the challenges that Swedish companies face in Pakistan, including high tax rates, when discussing Sweden-Pakistan trade and investment relations.
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KCCI Flays Restoration of Affidavit Condition for Sales Tax Returns
Karachi, November 9, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) expressed its strong opposition on Saturday to the recent reinstatement of the affidavit requirement for filing sales tax returns. KCCI President Muhammad Jawed Bilwani sharply criticized the move, demanding the immediate suspension of the affidavit mandate until substantial consultations with stakeholders have been conducted and effective alternatives identified.
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