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German envoy visits FPCCI office Islamabad February 13, 2021 Islamabad: Ambassador of Federal Republic of Germany Bernhard Schlagheck met President FPCCI Nasser Hyatt Maggo during his visit to FPCCI Capital Office, here, here, says a press release. The Ambassador of Germany expressed his gratitude on his warm welcome in FPCCI and said that he was quite impressed with the viability of Pakistan business people who are subject related. The Chambers are doing well and moving forward for making business easy. He said that the bilateral trade was over $3 billion earlier with surplus in favour of Pakistan, off-course there is more space to enhance economic partnership, here, says a press release. ....
Senate dislikes NAB’s interference into businessmen’s affairs Business January 31, 2021 KARACHI: The National Accountability Bureau (NAB) should not be allowed to take action against the business community as the businessmen and industrialists are already dealing with several other regulatory authorities, Senate Deputy Chairman Saleem Mandviwalla said on Saturday. Mandviwalla said the NAB should keep its activities confined to public sector and politicians. “Instead, NAB should facilitate the business community of Karachi by opening up the helpdesk at KCCI as done in Islamabad Chamber,” he said during a meeting with the office bearers of the Karachi Chamber of Commerce and Industry (KCCI). ....
FPCCI disapproves rate hold, seeks downward revision Business January 24, 2021 KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday opposed the central bankâs decision to keep interest rate unchanged for the third time, saying the rate is very high compared to neighbouring countries. Reduction in interest rate is essential to make exporting sector and local industry competitive, said Anjum Nisar, chairman of the FPCCIâs ruling group Businessmen Panel. âPakistan should take advantage of export orders canceled by regional countries. For this, the government will have to reduce production cost to avail this opportunity.â Nisar said inflation is expected to decline due to low demand. The external front is also presently sustainable due to foreign financial support and rescheduling of debt that has supported reduction in current account deficit, he added. ....
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FPCCI laments exorbitant petroleum levy, sales tax Business December 20, 2020 KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday dismayed over ‘significant’ levy, sales tax and margin on petroleum products, which it said are pushing up business cost. The FPCCI said the government has been charging very high petroleum levy and general sales tax on petroleum products. In Aug 2018, Brent price in the international market was $72/barrel and now it is around $50 a barrel, showing a decline of around $22. However, local petrol price increased to Rs103/litre from Rs95/litre during the period. Diesel prices came down to Rs108/litre from Rs112/litre. ....