Monday, December 5

Day: October 6, 2022

FTO appoints President KCCI as Honorary Advisor

Business, English
Karachi, October 06, 2022 (PPI-OT):Federal Tax Ombudsman Asif Mahmood Jha has announced to appoint President Karachi Chamber of Commerce and Industry (KCCI) Muhammad Tariq Yousuf as Honorary Advisor FTO so that the members of business community could comfortably bring issues to KCCI’s notice and the same can be taken up personally by President KCCI with FTO for timely resolution. Speaking at a ceremony held at KCCI to distribute cheques to refund excess amount of sales tax paid against purchase of Suzuki vehicles to complainants, Asif Mehmood Jha said that as FTO was a public and business friendly institution, it has appointed Advisors from various Chambers of Commerce as well with a view to bridge gap between FTO and the business community. “Relevant notification about the appointment of ...

Indus Motor Company wins the Best Corporate Excellence Award in the Automobile Assembler Category

Business, English
Karachi, October 06, 2022 (PPI-OT):At the 37th Corporate Excellence Awards 2022 ceremony, hosted by the Management Association of Pakistan (MAP) at Karachi, Indus Motor Company was awarded the Best Corporate Excellence Award in the Automobile Assembler Category. Receiving the award from the Chief Guest, Mr Miftah Ismail, Federal Minister, was IMC CFO, Mohammad Ibadullah. The laurel recognizes IMCs outstanding performance whilst demonstrating progressive management practices during 2022. IMC has been a recipient of Best in Sectoral Corporate Excellence Award, for the 7th time since 2010, and also won the coveted Overall Industrial Corporate Excellence Award, four times. The evaluation for the Awards comprised of four phases and results compiled by a neutral third-party consultant hired by M...

Islamic Chamber Collectively represents $7 Trillion Economy: Irfan Iqbal Sheikh

Business, English
Karachi, October 06, 2022 (PPI-OT):In a message, Mr. Irfan Iqbal Sheikh, President FPCCI, has said that Pakistan needs to expand and enrich its trade promotion activities with the 57-member alliance of Islamic Chamber of Commerce, Industry and Agriculture (ICCIA) – which collectively represents a GDP of $7 trillion. He explained that these countries have huge demand for Pakistani textiles; leather goods; rice, fruits and vegetables, IT services; skilled and semi-skilled workforce; and, we should capitalize on the opportunities to bridge our trade deficit of up to $4 billion / month, which is no more sustainable; exponentially increase remittances from Islamic countries, build foreign exchange reserves (FER) and, above-all, curtail current account deficit (CAD) decisively – whic...

Politics and experiments upsetting wheat market

Business, English
Islamabad, October 06, 2022 (PPI-OT):Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Thursday said politics and experiments have disturbed the wheat sector critical for food security. Flawed policies have increased prices, stockpiling, and smuggling of wheat causing the people to suffer from inflation, he said. Shahid Rasheed Butt said that wheat prices and anxiety in the market are continuously increasing due to delays in imports. In a statement issued here today, he said that certain policies of the central and provincial governments have greatly damaged the wheat market and this process continues, while the influence of the mafia continues to increase, which leads to public suffering. Sindh recently increased the purchase price of forty k...

Industrialists demand new Industrial Zone in Capital to boost exports

Business, English
Islamabad, October 06, 2022 (PPI-OT):A delegation of Islamabad Industrial Association (IIA) led by its President Zikria A. Zia visited Islamabad Chamber of Commerce and Industry (ICCI) and stressed that ICCI should step up its efforts with the relevant government authorities for a new industrial zone in the Capital to boost industrialization and exports. The delegation also congratulated the new Office Bearers of ICCI and hoped that they would play an effective role in resolving the key issues of local industry. Addressing the delegation, Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry said that Islamabad was experiencing rapid urbanization and population growth, but unemployed young talent was being wasted due to lack of jobs. He said that industrialization w...

Dar announces power tariff for exporters at Rs19.99 per unit

ISLAMABAD: Federal Minister for Finance Ishaq Dar on Thursday announced an electricity fixed rate for the export sector of the textile industry at Rs19.99 per unit. All Pakistan Textile Mills Association (APTMA) Patron in Chief Gohar Ejaz today held a successful meeting with Dar to fix the electricity price for the industry. APTMA Patron in Chief Gohar Ejaz headed the delegation of the textile sector and succeeded to settle the issues related to the textile sector. After the negotiations with the APTMA delegations, Ishaq Dar held a joint press conference with Gohar Ejaz and other textile industry representatives. Addressing the media, Dar said he did not use strict action yet but the dollar has started becoming down against the valuation of the Pak rupee. He confirmed that the actual...