Karachi, July 10, 2024 – The North Karachi Association of Trade & Industry (NKATI) voiced deep concerns on Wednesday over the potential mass closure of small and medium enterprises (SMEs), attributing the grim outlook to the adverse impacts of the 2024-25 budget.
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Karachi Industries Threaten Shutdown Over Electricity Tariff Hike
KARACHI, August 25, 2023 – The industrial heart of Karachi is bracing for turmoil as local industries, particularly in the North Karachi Industrial Area, voice their strong opposition to a recent significant hike in electricity tariffs.
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DG Rangers assures industrialists of resolving law, order issues
KARACHI: Director General Pakistan Rangers Sindh, Major General Azhar Waqas (Hilal Imtiaz Military) has assured all possible cooperation to the industrialists of North Karachi industrial area,
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FTO urges business community to lodge complaints for tax issues
Karachi: Dr. Asif Mahmood Jah (Sitar-e-Imtiaz), the Federal Tax Ombudsman (FTO), has extended an invitation to the business community, urging them to lodge complaints without hesitation to address and resolve tax related problems effectively.
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FBR stops sales tax refunds: NKATI
KARACHI: North Karachi Association of Trade & Industry (NKATI) has said that the tax authorities have stopped sales tax refunds for the last one month.
Faisal Moiz Khan, NKATI President, in a statement issued on Monday expressed deep concern over the undue delay in payment of sales tax refund claims by the Federal Board of Revenue (FBR), and demanded to release funds immediately as per the rules, as the exporters, especially the textile exporters, were facing difficulties due to unjustified delay in sales tax refund claims contrary to the sales tax rules.
READ MORE: NKATI appeals release of stuck up textile machinery
NKATI president said that as per Rule F39 of the Sales Tax Act, 2006, sales tax refund claims for which approved electronic refund payment orders (ERPOs) were issued, will pay within 72 hours but funds have been stopped for more than a month.
Due to stoppage of refunds, exporters, especially the small and medium exporters, were facing severe financial crunch. “As a result of which the production as well as the exports also badly affected,” he added.
Moiz said that several requests have been made by the exporters to the FBR for immediate release of refund claims, but the payment of refunds is still pending.
READ MORE: NKATI asks SBP to stop free-fall in rupee value against dollar
“Due to the government’s inability to pay sales tax refunds to textile exporters under approved electronic refund payment orders by the end of December 2022 and FBR’s irresponsible statement that the government did not have the relevant funds for the payment, the exporters is facing serious concern, as their billions of rupees are stuck with the government in the form of sales tax refunds, which the government is using delay tactics to pay.”
READ MORE: NKATI launches industrial area beautification
NKATI president was of the view that the textile exporters are concerned that the government has mismanaged their sales tax funds and used these funds for some other purpose, so the exporters are suffering from this irregularity of the government and the export production is also severely affected, and the worrying thing is that foreign buyers are also cancelling their orders due to which the exporters are facing huge losses.
Faisal Moiz demanded that payments of sales tax refund claims under approved electronic refund payment orders should be made within 72 hours as per rules and regulations.
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NKATI appeals release of stuck up textile machinery
KARACHI: North Karachi Association of Trade and Industry (NKATI) on Monday appealed the government for allowing immediate release of textile machinery that were stuck up due to import ban.
NKATI President Faisal Moiz Khan in a statement expressed deep concern over the non-release of containers of the textile machinery, parts at the ports due to government ban and subjecting the State Bank of Pakistan (SBP) to the permission of the federal government. As a result, the containers had been stuck up at Karachi Port.
READ MORE: NKATI asks SBP to stop free-fall in rupee value against dollar
In an appeal, NKATI president Faisal Moiz Khan informed to Prime Minister Shahbaz Sharif and Finance Minister Miftah Ismail to issue orders to release the containers containing textile machinery, parts stuck at the ports, otherwise the production activities of the textile industry will be disrupted and as a result the country will lose the export markets.
READ MORE: NKATI launches industrial area beautification
“The containers containing state-of-the-art textile machinery and parts under HS code 8452-2900 & 8447-900 are not being released at the ports of Karachi. The State Bank has made it subject to the permission of the federal government to release the containers stuck at the ports due to which import containers worth billions of rupees are awaiting release,” he pointed out.
READ MORE: NKATI urges PM Imran to reduce petroleum prices
Faisal Moiz Khan appealed to Prime Minister Shahbaz Sharif and Finance Minister Miftah Ismail to take notice of the situation and issue directives to the relevant authorities including the State Bank of Pakistan to immediately release the containers containing textile machinery and parts so that the production activities can be continued without interruption and fulfilment of export orders is possible on time.
READ MORE: Pakistan raises petrol price to record high at Rs160/liter
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NKATI asks SBP to stop free-fall in rupee value against dollar
KARACHI: Industrialists of North Karachi Trade and Industry (NKATI) have urged the State Bank of Pakistan (SBP) to stop free-fall of rupee against the US dollar.
In a statement, NKATI President Faisal Moiz Khan has urged the State Bank of Pakistan (SBP) to take measures for stabilizing the local currency as dollar breached Rs226 level in the interbank foreign exchange market.
READ MORE: NKATI launches industrial area beautification
“The SBP should adopt effective strategies to stabilize the rupee and curb the continued appreciation of the dollar,” he added.
President NKATI said that rising the dollar will have very negative effects on the industrial production activities while the country’s economy will also be badly affected and a storm of inflation will come.
The ongoing political ups and downs in the country are in place but the central bank needs to play its role as a regulator to prevent the dollar from soaring and the rupee from falling.
READ MORE: NKATI urges PM Imran to reduce petroleum prices
Moiz said that the continued appreciation of the dollar against the rupee has led to an enormous increase in industrial costs, making Pakistani products less competitive in export markets and unsustainably increasing commodity prices in domestic markets.
“The appreciation of the dollar has more than doubled the cost of industrial raw materials, making it difficult to sustain production activities, and the industrial community fears that if the rupee continues to depreciate and the dollar continues to rise, timely fulfilment of export orders will not be possible,” he informed.
READ MORE: Pakistan raises petrol price to record high at Rs160/liter
NKATI president further said that the energy crisis, high rates of electricity, gas, taxes have already significantly increased the cost of production and now the continuous increase in the value of the dollar will sink the industries, which will lead to flood of unemployment and domestic exports will also be affected, so the central bank should adopt a strategy to curb the dollar price hike, otherwise it will become difficult to run the industries.
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NKATI launches industrial area beautification
KARACHI: North Karachi Association of Trade & Industry (NKATI) has launched drive to beautify industrial area with the collaboration of GFS Builders & Developers and DMC.
Initially, jointly laid the foundation stone for the renovation of Park and Saba Chowrangi in Sector 16B, a statement said on Sunday.
READ MORE: NKATI urges PM Imran to reduce petroleum prices
Maulana Bashir Farooqi, Chairman, Sailani Welfare Trust, Irfan Wahid, CEO, GFS Builders & Developers, Faisal Moiz Khan, President, NKATI, Taha Saleem, Deputy Commissioner & Administrator, Central District, Shabir Ismail, SVP NKATI, VP Naeem Haider, Sadiq Mohammad, S. Tariq Rasheed, Akhtar Ismail, Shaukat Ismail, Naseem Akhtar, Nasir Darwish, Shahid Ansari, Younus Khamisani, Iftikhar Malik, Mahmood Rangoonwala, Farooq Khatura, Faisal Shabo, Syed Nasir Ali, Yasir Ali, Shehzad Elahi, Kashif Ghauri, Sajjad Aziz, Mudassar Saeed and a large number of industrialists were present.
READ MORE: Pakistan raises petrol price to record high at Rs160/liter
Maulana Bashir Farooqi, Chairman, Sailani Welfare Trust laid the foundation stone of the project, and offered special prayers. He said that the beginning of beautification of North Karachi Industrial Area is welcome and the efforts of GFS Builders, NKATI, DMC are commendable.
Bashir Farooqi appreciated the role of the industrialist community in stabilizing the economy and providing employment, and said that the business community should come forward, and set up more and more industries so that no one would be left unemployed.
READ MORE: NKATI expresses concerns over gas disconnection
Faisal Moiz Khan, President, North Karachi Association of Trade & Industry (NKATI), said that Karachi’s infrastructure is in bad condition and we will continue to play a vital role in improving Karachi’s infrastructure and enhancing the beauty of the city of lights.
Faisal lauded the cooperation of GFS Builders & Developers and DMC and said that the renovation of intersections in North Karachi Industrial Area as well as construction of a park in Sector 16-B would provide opportunities for healthy recreation.
READ MORE: NKATI condemns artificial raw material shortage
Irfan Wahid, CEO, GFS Builders & Developers, said that GFS will play its role in beautifying Karachi and will continue its cooperation in the style of renovation works in North Karachi Industrial Area with the help of NKATI.
Taha Saleem, Deputy Commissioner, Central District, welcomed the joint venture of NKATI, GFS, and assured his cooperation, saying that such joint efforts would bring cleanliness and beauty to the Industrial Area.
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NKATI urges PM Imran to reduce petroleum prices
Faisal Moiz Khan, the President of the North Karachi Association of Trade & Industry (NKATI), has expressed deep concerns regarding the recent surge in domestic petroleum prices.
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Industry asked to maintain record of employees, guards
KARACHI: Nasir Aftab, Deputy Inspector General of Police (DIG) West Zone Karachi Friday asked industrialists to maintain record of employees and security guards in order to prevent criminal activities.
The DIG while addressing a meeting with the office bearers of North Karachi Association of Trade and Industry (NKATI) said that the Sindh Police will continue to take all possible measures to protect the lives and property of the industrialists.
SSP Central, Ghulam Murtaza Tabassum, SSP Investigation, Shehla Qureshi, President NKATI Faisal Moiz Khan, SVP, Shabir Ismail, VP, Naeem Haider, senior member executive committee Syed Usman Ali, chief CMC Farooq Khatora, former President NKATI, Syed Tariq Rashid and members managing committee were also present.
READ MORE: NKATI expresses concerns over gas disconnection
The DIG further said a team will be formed consisting of policemen DIG West, Rangers personnel and representatives from NKATI to formulate SOPs regarding law and order in the industrial area.
Police services can be availed while withdrawing cash from the bank. He also directed the SSP Central to provide more personnel to the NKATI Crime Monitoring Cell.
NKATI President, Faisal Moiz Khan appreciated the cooperation of DIG West, Nasir Aftab, and said that all development works in North Karachi Industrial Area have been carried out with the grant from Sindh Government. Which is a sign of full confidence of the Sindh government.
READ MORE: NKATI condemns artificial raw material shortage
He suggested that a CPLC-like system should be set up in every industrial zone and it should be regularly notified by the Sindh government to give it a legal status. He requested DIG West to put this proposal before the top government agencies. In this regard, we are also in touch with the Sindh Home Department.
“Khamisa Goth and Lasi Goth are connected in North Karachi Industrial Area from where criminals enter North Karachi Industrial Area and easily escape after committing incidents. Therefore, police co-operation is required to monitor the routes through which these criminals enter the industrial area. An integrated strategy needs to be formulated in this regard,” he pointed out.
READ MORE: Gas supply suspension: NKATI appeals PM to save industry
NKATI president drew attention to the encroachments in the North Karachi Industrial Area, saying that most of the people sitting on chairs outside the tea hotels are criminals. Therefore, it is very important to put an end to such encroachments because criminals sit in the same hotels and keep an eye on the industrialists. At present 7 personnel have been provided to Gabol Town Police Station and 13 personnel have been provided to North Karachi Industrial Area Police Station so the shortage of personnel should be met.
Syed Usman Ali, senior member, executive committee, said that cooperation with the police and NKATI is very strong, which has resulted in a significant reduction in crime in the North Karachi Industrial Area, but there is a shortage of personnel. He informed that Installation of 750 CCTV cameras in North Karachi Industrial Area will be started soon. While street lights have been installed to illuminate the industrial area, North Karachi Industrial Development & Management Company is paying the bills of K Electric in this regard.
READ MORE: Water shortage stalls industrial production: NKATI chief