FPCCI – Page 10 – PPI News Agency

Mian Nasser Hyatt Maggo urges to establish FBR’s help-desk at FPCCI Head Office

Karachi, January 18, 2021 (PPI-OT): Mian Nasser Hyatt Maggo President FPCCI thanked Dr. Muhammad Ashfaq Ahmad Member Inland Revenue (Operations) and his team including Dr. Aftab Imam, Chief Corporate Tax Office, Hameed Memon Chief Medium Tax Officer, Nazeer Shoro Chief RTO 1and Badar Uddin Qureshi Chief Large Tax Office for their presence at FPCCI Head Office. This meeting held to discuss Tax related matters and Issues faced by the Business Community.

Mian Nasser Hyatt Maggo President FPCCI highlighted the concerns of being not consulted and not taken on board despite the main stakeholder in revenue generations. He suggested the Member Inland Revenue and his team for a facilitation desk of FBR at FPCCI Head Office for proper coordination of FBR and Business community. The complexity of tax on tax, additional tax, and advance tax is creating confusion and a difficult and lengthy process. All the basic exemptions are available for the large enterprises, SMEs should be facilitated to bring them in the tax net. Our members have many questions and all relevant problems should be revisited in consultation with FPCCI.

Dr. Muhammad Ashfaq Ahmad Member Inland Revenue stated that we have achieved a record of tax collection by increasing the number of taxpayers this year. FBR this year adopted the policy not to extend the last date of payment of taxes in piece meal rather than the date of filing of returns was extended to a considerable period of 90 days i.e. from September, 2020 to December, 2020. He expects that a number of filers may touch the figure of 3 million by the end of this year. FBR is also working on merging all the taxes in one tax with simplification of procedures. He regarded trade bodies as relevant citizens to help in policy making process.

The rate and procedure of collection of taxes is decided by the parliament and they have no authority to change it without the consent of the parliament but they can recommend the parliament to modify the procedures for which he has already taken notes from the feedback received in today’s meeting. Regarding the issue of tea association he informed that 12th Schedule is a reality, however, FBR Anomalies Committee has been constituted to settle the issues. On the question raised on issue of exemption certificates he shared that the grievances of trade are there and he is personally working on it improve the procedures.

Adeel Siddiqui, Vice President FPCCI presented the vote of thanks and highlighted the importance of FBR and Business community relationship, the meeting was concluded with the presentation of FPCCI shield to the Member Inland-revenue Dr. Muhammad Ashfaq Ahmed by Mian Nasser Hyatt Maggo President FPCCI. Meeting was attended by Muhammad Hanif Lakhani, Athar Sultan Chawala, Nasir Khan, Adeel Siddiqui Vice Presidents Engr. M A Jabbar, Khurram Saeed former vice presidents, representatives of various chambers and associations, EC and General Body members, and a large number prominent businessmen.

For more information, contact:
Head Office,
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
Federation House, Main Clifton, Karachi, Pakistan
Tel: +92-21-35873691-94
Fax: +92-21-35874332
Email: info@fpcci.org.pk
Website: http://fpcci.org.pk/

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PRAL held a briefing session in FPCCI

Karachi, January 14, 2021 (PPI-OT): Mian Nasser Hyatt Maggo President, Federation of Pakistan Chambers of Commerce and Industry appreciated PRAL for improving ease of doing business and facilitating business industry while presiding the meeting of FPCCI Standing Committee on Customs headed by Shabbir Hassan Mansha. He further said when it comes to business endeavours every business person has to deal with Customs, FBR, and SBP. Most people have confused by the complexity of processes. The meeting expects the experts to disentangle the process complications.

A team of experts from Pakistan Customs and Pakistan Revenue Automation Private Limited (PRAL) joined FPCCI Head Office, Karachi the in the meeting of FPCCI Standing Committee on Customs, for a presentation with FPCCI member trade bodies across Pakistan simultaneously at FPCCI Head Office Karachi (Chair), Capital Office Islamabad and Regional Offices at Lahore, Peshawar and Quetta via Zoom Link to deliver the presentation. The team members include Mr. Wajid Ali, Director General, Reforms and Automation, FBR; Mr. Sanaullah Abro, Director Reforms and Automation and Mr. Arshad Hussain, Sr. Manager, PRAL, Customs House, Karachi along with representative of State Bank of Pakistan (SBP). The presentation was attended by the trade bodies from all over Pakistan on Zoom.

Mr. Wajid Ali DG Reforms and Automation, FBR briefed the participants on this newly introduced online payment procedure since 2017 in collaboration with the State Bank of Pakistan (SBP). This system is connected with the WeBOC and payment of taxes can be made by pay orders and cash to create a balance. Such procedures are already adopted by a number of countries worldwide. The system is operated by a unique ID which is called as PSID number issued to the relevant users which is connected to approx. 16000 different branches of relevant bank across Pakistan.

In order to further ease the payment of taxes the system is also supported by easy paisa / OTC on mobile phone to the users as well and the facility through this system is available with the taxpayers on the basis of 24/7. No drastic adoption of the system was observed last year by the users and in order to enforce the online payment by the system it is now automated in such a way that the payment of taxes beyond Rs. 1 million cannot be made through old system of payment of taxes.

It is therefore, mandatory to the taxpayers that they are bound to get PSID number if the amount of taxes to be paid accedes Rs. 1 million or above. The last date to adopt the new system by the taxpayers is 20-01-2021 as announced by the FBR so that the payment of taxes may be made more effective and transparent. This will also ease to compile the statistical data relating to revenue collection within no time. Uptill now 22% of the collection of taxes is being carried out by the help of new electronic system and it is not out of place to mention that a positive feedback is coming in from the taxpayers who are already using the facility.

In the meantime the trade bodies were also briefed by the other team members including representatives from the State Bank as to how to adopt the new system with minimum hurdles. During the question answer session the representatives of trade bodies from all over the Pakistan were invited to share their views and queries in this respect. In general the trade bodies shown their interest and shown their willingness to register themselves within the newly adopted system of payment of taxes. The views were also shared by the representatives of trade bodies via Zoom Link from all FPCCI Stations who were present on Zoom.

Shabbir Hassan Mansha, Convener, FPCCI Central Standing Committee on Customs informed that his committee will organize more sessions relevant to Customs, and SBP to enhance the knowledge and relevant information on the subject. Khurram Ijaz former vice president FPCCI while presenting the vote of thanks to the participants and the experts’ said that a close liaison between the FBR and SBP and trade bodies should be maintained by appointing a focal person from FBR and SBP respectively for the ease of trade.

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Concrete steps should be taken to resolve the problems of small traders: President FPCCI

Karachi, January 13, 2021 (PPI-OT): A delegation of All Karachi Tajir Ittehad (AKTI) under the leadership of Chairman Atiq Mir visited the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to felicitate Mian Nasser Hyatt Maggo newly elected President of FPCCI on his success. The delegation shared its concerns over the issues of taxes, lockdown situation, the anti-encroachment drive of Government, maintenance of infrastructure, emergent situations during urban flooding, and fire incidents.

Mian Nasser Hyatt Maggo President FPCCI said that unfortunately, the megapolis is lacking the chambers for SMEs, cottage industry, and the small traders, he suggested the step by step actions to resolve the issues of markets and business community, starting from a marked area and creating the best service model and carry on the successfully tested procedure throughout the city. He assured the social service of FPCCI to all business community without any discrimination. He proposed the delegation for a workable concept paper to set a line of action.

The meeting suggested FPCCI, being the head institute of business and industry, to support in markets sustainability and small business enterprises of Karachi. A working group may be formed for assessing and resolving the issues under the umbrella of FPCCI. The small business sector is willing to avoid protest for their rights if FBR announces to facilitates the taxpayers and implement business-friendly modules of tax collecting.

Mian Nasser Hyatt Maggo President FPCCI further advised the delegation to produce a pre-budget suggestion paper in the perspective of their issues, which can be included in FPCCI pre-budget recommendations to the Ministry of Finance, Government of Pakistan. The meeting was attended by Athar Sultan Chawla, Hanif Lakhani Vice Presidents FPCCI, and the AKTI members.

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Move to Bar the Textile Mill from accessing its Cotton Stock would affect Pakistan’s Exports Mian Nasser Hyatt Maggo President FPCCI

Karachi, January 11, 2021 (PPI-OT): Mian Nasser Hyatt Magoo President, Federation of Pakistan Chambers of Commerce and industry strongly condemns action to disturbed the growth of Pakistan’s exports which is showing positive trend under the prevailing difficult environment. He urged the government and Ministry of commerce to immediately take notice of the Pakistan Railways against Gul Ahmed Textile Mills Limited, a leading exporters contributing significantly in the economic development of Pakistan.

President FPCCI said that the Gul Ahmed Textile Mill Limited legally acquired premises where it kept all its cotton stocks in bulk quantities whose lease documents have been vetted by the Supreme Court of Pakistan and the Sindh High Court.

He stated that the Railways authority is taking action at time when textile mills/exporters are engaged to deliver their exports orders while on the other hand presently local production of cotton does not match with the demand therefore, the textile exporters are importing cotton and placing it in their suitable yards. This action would not only affect Pakistan’s export but also put thousands of workers’ jobs at stake. Gul Ahmed is the biggest exporter of textile products and this move to refrain the textile mill from accessing its cotton stock would affect its production activities and their exportable consignments may also suffer delays and ultimately will cause loss of revenue reputational damage and confidence of the foreign buyers.

Mian Nasser Hyatt Magoo President, Federation of Pakistan Chambers of Commerce and industry urged the Government and Ministry of Commerce for prompt intervention to allow access to the raw material by Gul Ahmed Textile Mill Limited so that its workers remain at work, export operations continue without any disruption.

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FPCCI concern over gas shortage and low pressure: President FPCCI

Karachi, January 06, 2021 (PPI-OT): Mian Nasser Hyatt Maggo, President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has shown serious concern and urged the Government and the Sui Southern Gas Company to immediately restore gas supply with required pressure to overcome the supply and demand gap of energy.

He said that disconnection of Gas to industry and Captive Power Plants will seriously damage the growth in export of Pakistan which after a long time and Covid-19 situation still grew by the rate of 18.3 percent in the month of December 2020. He said that the businesses and industries are already passing through un-conducive business conditions of high cost of inputs and poor deteriorating infrastructure. Our export industry after COVID-19 was recovering fast but unfortunately due to interrupted gas supply, followed by increase in prices of petroleum products and electricity shut downs, the production of goods for export will suffer drastically.

The management of Gas Company has failed to respond to the apprehension by the industry for timely import of LNG. Concern is rising as both temperatures and gas pressure supply are dropping, while the Government and Gas companies understand that in the winter season Gas supply and demand does not match but measures should have been taken in advance resultantly the whole country is facing severe Gas shortage.

The shutdown of industry due to gas crises will not only create unemployment but slowdown economic progress which has been achieved by the government with the remarkable efforts and visionary policies of the leadership. Mian Nasser Hyatt Maggo, President Federation of Pakistan Chambers of Commerce and Industry urged the government to ensure uninterrupted gas supply to industry to avoid closure of industry leading to interruption in this ongoing exports.

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Meeting of Executive Committee of the Federation of Pakistan Chambers of Commerce and Industry held

Karachi, January 04, 2021 (PPI-OT): A meeting of the Executive Committee of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) was held on Saturday simultaneously at FPCCI Head Office Karachi (Chair), Capital House Islamabad, and Regional Office Lahore, Regional Office Quetta, and Regional Office Peshawar through video link which was presided over by Mian Nasser Hyatt Maggo President FPCCI.

Mian Nasser Hyatt Maggo President FPCCI said that Allah has granted us success in our efforts and we are committed to the business community and our institution; we will do our best to protect and promote the interests of the business community without any discrimination and image building of the institution. He congratulated Khawaja Shazaib Akram newly elected Senior Vice President and Athar Sultan Chawla, Muhammad Hanif Lakhany, Chuhdary Muhammad Saleem, Muhammad Arif Yousaf Jeewa, Adeel Siddiqui, Muhammad Zahid Shah, Raja Muhammad Anwer, Nasir Khan, Farzana Ali Ahmed, and Muhammad Nawaz elected Vice Presidents on their success.

Khalid Tawab along with three opposition EC members walked out of the meeting while newly elected Vice Presidents Muhammad Arif Yousaf Jeewa, Muhammad Nawaz, and Adeel Siddiqui wholeheartedly participated in the meeting, congratulated President Mian Nasser Hyatt Maggo and said that they would work jointly and assured every possible cooperation.

All the agenda points and election results were unanimously endorsed by the full House of the Executive Committee and glowing tributes were paid to Mr. Tariq Saeed the founder and Mian Anjum Nisar former president of FPCCI. Maggo said in his concluding remarks that he and his team will never spare any efforts to strengthen the FPCCI and we will work with the same energy and zeal showed by former president Mian Anjum Nisar and his team for the betterment of business community.

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President FPCCI urges to extend the period of amnesty scheme for the construction industry by another year

Karachi, December 28, 2020 (PPI-OT): Mian Anjum Nisar, President “The Federation of Pakistan Chambers of Commerce and Industry” (FPCCI) while appreciating the Prime Minister of Pakistan for introducing Amnesty Scheme for Construction Industry, said that the scheme has boosted the socio-economic status of daily wagers and supported the construction and its allied sectors. It was a tremendous decision for the mitigation of COVID-19 impact over Pakistan. This incentive scheme attracts the builders, developers, and purchasers of housing units and plots who have not availed of it yet. Even the negative economic effects of Covid-19 pandemic have not hindered the Construction Industry in providing immediate jobs back to the millions of daily wages earners.

He informed that Prime Minister Imran Khan had announced the tax amnesty scheme for the real estate and construction sector in April 2020 and will remain valid till 31st December 2020. The relief package was for the construction industry with twofold aim of providing employment to daily wage earners, and spurring economic activity. Those availing of this scheme need to register with the designated FBR portal since the ordinance was promulgated from April 2020 to December 31, 2020.

The immunity from declaring the source of income was also available to builders, developers, and the purchasers of the housing societies and projects, and tax on gains on investment had been waived for all citizens who wanted to sell their homes. The tax amnesty had been given as part of the Prime Minister Package to lessen the impacts of the COVID-19 outbreak on the construction sector.

President FPCCI urges the Prime Minister to extend the time period of the Amnesty Scheme for Construction Industry and introduce the same amnesty scheme facility to other sectors and industries. This scheme can support the economy of Pakistan during the second wave of COVID-19 and it will proved to be a turning point for the economy of Pakistan and for the revival of the housing and construction industry in Pakistan.

He further said that if the Amnesty Scheme continues for another year the daily wagers, the most vulnerable segment of the population can get back to work to earn a respectable earning for their families as they were fighting with the second phase of COVID-19 and poverty at the same time.

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