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Day: August 4, 2022

Commemorate 14th August with Austerity and Divert Funds to Flood Relief: Irfan Iqbal Sheikh

Business, English
Karachi, August 04, 2022 (PPI-OT):Mr. Irfan Iqbal Sheikh, President FPCCI, has demanded that the government should commemorate the Independence Day this year with austerity; and, divert the funds toward the flood relief operations and rehabilitation of the affectees. He noted with profound concern that more than 500 people have died in Balochistan alone; thousands are injured and lakhs are displaced. FPCCI President has demanded that the government should also provide interim relief to the affected businesses all over the country to resume their operations and keep providing employment opportunities as usual. The relief measures may include waiver of utility bills; relaxation in taxes and restructuring of business loans. Mr. Irfan Iqbal Sheikh emphasized that, in times of financial crunch,...

Governor SBP to set up Joint Interaction Committee with FPCCI

Business, English
Karachi, August 04, 2022 (PPI-OT):Dr. Murtaza Syed, Governor (A) State Bank of Pakistan (SBP) has announced the formation of a committee and appointment of an SBP liaison officer for close coordination with the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and timely redressal of grievances of business committee. He made this announcement during his visit to the FPCCI on the invitation of their management. The senior management of the SBP led by Governor (A) Dr. Murtaza Syed and comprising, among others, Deputy Governors Dr. Inayat Hussain and Ms. Sima Kamil visited the FPCCI to discuss current economic challenges and the measures being taken by the Government and SBP. The Governor (A) appreciated business community for their endurance in facing the challenges posed by b...

LCCI laments loss of brave soldiers

Business, English
Lahore, August 04, 2022 (PPI-OT):The Lahore Chamber of Commerce and Industry has expressed deep grief and sorrow over the tragic crash incident in Balochistan wherein we have lost our brave soldiers. In a condolence message, LCCI President Mian Nauman Kabir termed the martyrdom of six Army officials, including Lt. General Sarfraz Ali, Gen. Ali, commander of Quetta Corps, Brigadier Amjad Hanif, Brigadier Muhammad Khalid, Major Saeed Ahmed, Major Talha Manan and Naik Mudassar Fayyaz in helicopter crash a national loss. He said that the Lahore Chamber of Commerce and Industry is grieved by the tragic loss of our brave soldiers in the line of sacred duty. “On behalf of all members I express my heartfelt condolences to their families and pray for higher ranks for the departed souls in heaven”, ...

Rs2.5 billion approved to restore Karachi’s damaged infrastructure: Sindh Chief Secretary

Business, English
Karachi, August 04, 2022 (PPI-OT):Sindh Chief Secretary Dr Muhammad Sohail Rajput during his visit to Karachi Chamber of Commerce and Industry (KCCI) informed the business community that Sindh government had approved Rs2.5 billion to restore the city’s damaged infrastructure after the monsoon rains, out of which Rs1.5 billion are for road maintenance on the routes of People’s Bus Services and rehabilitation of various other roads. He agreed to hold regular meetings with the nominated representatives of the KCCI to take their input to resolve the upfront issues and develop the required infrastructure in Karachi. He said that Korangi Causeway project will be completed by June 2024 at a cost of Rs 5 billion. An IT Park will be built in Karachi under Public Private Partnership to tap the expor...

Economy coming out of ICU

Business, English
Islamabad, August 04, 2022 (PPI-OT):Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Thursday said the devastated economy of Pakistan is coming out of the ICU. The political environment and limping economy is improving after a long which is a good sign for the country. Shahid Rasheed Butt said that the economic diplomacy of the Army Chief is admirable which has helped to improve the disappointing situation. In the next few weeks, talks between the government and the opposition may begin, which will make the public and business community take a sigh of relief. The business community has estimated that now the efforts to stabilize economy are succeeding which is evident from the retreat of dollar. IMF has announced that Pakistan had delivered o...

Senator Talha Mahmood urges government to rationalize taxes on real estate sector

Business, English
Islamabad, August 04, 2022 (PPI-OT):Senator Muhammad Talha Mahmood, Federal Minister for States and Frontier Regions has urged the government to rationalize taxes on the real estate and construction sector to facilitate its better growth that would help revive the economy. He stressed that the government should make conducive policies for the construction industry as it played a key role in strengthening the economy. He said that Pakistan needed a business friendly environment and promotion of industrialization to overcome its current economic challenges. He further emphasized that the government should make economic policies in consultation with the business community to make them more productive and result-oriented. He said this while speaking as chief guest at the prelaunch ceremony of ...