Tag: PIAF

Lahore, October 15, 2018 (PPI-OT): Opposing the government anti-encroachment campaign against established markets in Lahore, Pakistan Industrial and Traders Associations Front (PIAF) chairman Mian Nauman Kabeer has asked the government to run the drive within legal framework, recommending the authorities to give a notice to the traders for voluntarily removal of real encroachments within a certain timeframe. If any trader fails to comply with the orders, then the authorities should take action and remove the encroachments, he added.

During a meeting with different markets of the city along with senior vice chairman Nasir Hameed Khan and vice chairman Javed Iqbal Siddiqui, Mian Nauman said that encouragement of business community is a must for any country to grow trade and economic activities. He said that consultation with the business community on business related issues, whether it is drive against encroachment or any other policy formulation, would encourage and boost the confidence of the businessmen and they would not only cooperate to the government but would also become a true driving force for the national economy.

Nauman Kabeer said that PIAF wants targeted operation against encroachments, but existing operation is indiscriminate and crushing genuine taxpayers along with the land grabbers, evoking anger and fear amongst the business community. He said that staff of concerned government departments is executing operation against encroachments thus triggering a crisis in the city markets, as traders are in a deep trouble and worried.

He said the move also created discontentment in affected traders. Anti-encroachment staff is doing what they want to do without informing the traders and destroying the buildings. He said that it is unfortunate that those properties are also being demolished on which taxes are being paid regularly. Such action not only hit the genuine businessmen hard but government would also be deprived of huge revenue.

For more information, contact:
Pakistan Industrial and Traders Associations Front (PIAF)
110/s Kot Lakhpat Industrial Estate, Lahore, Pakistan
Tel: +92-42-5123522
Fax: +92-42-5123522
Email: Info@piaf.pk

Lahore, October 11, 2018 (PPI-OT): Pakistan Industrial and Traders Associations Front (PIAF) newly-elected chairman Mian Nauman Kabir has demanded a high-level probe into massive devaluation of local currency by over Rs10 in a single day. He also demanded the State Bank to identify the reasons and share the findings with the business community. He said that Pak rupee has weakened by around Rs22 against the dollar from June 1, 2018. The rupee slide has resulted in around Rs 2,200 billion increase in the country’s debt.

The PIAF Chairman while issuing a statement along with senior vice chairman Nasir Hameed and vice chairman Javed Iqbal Siddiqui, was of the view that the sharp downfall in the rupee value had not only disturbed almost all sectors of the economy but also brought a new wave of price spiral that would not die down despite dollar’s retreat.

Mian Nauman Kabir said that the illegal international transactions in dollar-denominations via Dubai are creating shortage of dollars in the Pakistani open market. The PIAF office bearers appealed the government to direct the Federal Investigation Authority (FIA), Intelligence Bureau, Customs Intelligence and the State Bank of Pakistan to keep strict vigilance to control currency and bullion smuggling. They urged the SBP to immediately take notice of the situation which is causing panic in the currency market.

“10 rupees increase in dollar price in a single day was an unusual phenomenon for a country like Pakistan as the mafia involved in this affair made billions of rupees in a single day while on the other hand those who bought the greenback to fulfill their foreign commitments suffered a great loss.” Chairman PIAF urged the government to take action against shortage of dollar in local market, besides controlling surge of dollar against rupee. PIAF Chairman said the local currency depreciation has inflicted heavy losses on the national economy.

Chairman PIAF said that depreciation valuation of one rupee against the dollar increases external debt by Rs100 billion. He added the implications of depreciation are very serious on the budget deficit, inflation and on cost of doing business. He stated that it is too early to estimate the positive impact of rupee devaluation on exports as export orders will take longer time to materialize.

For more information, contact:
Pakistan Industrial and Traders Associations Front (PIAF)
110/s Kot Lakhpat Industrial Estate, Lahore, Pakistan
Tel: +92-42-5123522
Fax: +92-42-5123522
Email: Info@piaf.pk

Lahore, September 26, 2018 (PPI-OT): PIAF Leadership including chairman PIAF Mian Nauman Kabir, senior vice chairman Nasir Hameed Khan vice chairman Javed Iqbal Siddiqui former chairmen PIAF and LCCI Mian Anjum Nisar, Mian Shafqat Ali, Muhammad Ali Mian, Engr. Sohail Lashari, Irfan Qaiser Sheikh, Mian Abuzar Shad, president LCCI Malik Tahir Jawed While congratulating the new elected Executive Committee members for Lahore Chamber of Commerce and Industry for Corporate Class and Associate class from PIAF Founders Alliance panel who won the elections with huge margin yesterday 25th Sep and day before yesterday on 24th September for 16th time consecutively, hoped that the newly-elected body will utilize their best abilities to serve the traders attached with this business.

From corporate class PIAF Founders alliance successful candidates are Dr. Muhammad Arshad, Almas Hyder, Naveed ullah Khan, Aqib Asif, Khalid Usman, Waqar Ahmad and Kh. Shahzad Nasir and from Associate class Alliance successful candidates are Mian Zahid Jawaid, Irfan Iqbal Sheikh, Naseem ul Ghani, Shahzad Aslam, Haris Ateeq, Atif Ikram, Rana Nisar Ahmed and Muhammad Arshad Khan. While issuing a press statement today, office bearers of PIAF said that newly elected office-bearers should urged the government to take up the issues of business community on priority basis.

Mian Nauman Kabir said that PIAF Founders Alliance is playing a significant role for the promotion of trade and industry issues for the last sixteen years which is the main reason of winning the hearts of business community in the form of votes casted in their favor every year. He urged the newly elected office-bearers of LCCI to forward their proposals to the PIAF as well as the LCCI so that the issue being faced by them could be taken up with concerned government circles.

For more information, contact:
Pakistan Industrial and Traders Associations Front (PIAF)
110/s Kot Lakhpat Industrial Estate, Lahore, Pakistan
Tel: +92-42-5123522
Fax: +92-42-5123522
Email: Info@piaf.pk

Lahore, September 24, 2018 (PPI-OT): Maintaining its track record, the PIAF-Founders Alliance will made a clean sweep by winning all seats of the Lahore Chamber of Commerce and Industry’s Associate Class in the LCCI election for 2018-19 being held on Monday 24th Sep for Corporate Class and on Tuesday 25th Sep for Associate class. These views were expressed by the trade bodies of the Lahore during a month-long campaign. A Grand dinner of PIAF Founder Alliance is also being held tonight PAF Falcon complex, Gulberg III, Lahore which would be attended by more than thousand traders and various market representatives.

PIAF leadership, during their campaign, paid rich tribute to trade bodies for their supports and assured all traders that PIAF-Founder Alliance will continue to serve them like the past. The Alliance leaders pledged to continue to raise voice for the solution of the problems being faced by the business community. The participation of large number of market representatives in grand dinner was enough proof to make the point that the business community wanted continuity in the policies introduced by the PIAF-Founders Alliance.

The Alliance leaders including Mian Misbahur Rehman, Mian Anjum Nisar, Mian Muhammad Ashraf, Irfan Iqbal Sheikh, Mian Shafqat Ali, Muhammad Ali Mian, Malik Tahir Javaid and Abdul Basit Khawaja Khawer Rasheed Zeshan Khalil and others threw light on Alliance manifesto and promised to resolve the issues being faced by the businessmen attached with different sectors.

The Alliance leaders and candidates when reached McLeod Road were received by Sewing Machine and Auto Markets leaders and pledged to support the Alliance candidates in upcoming LCCI election. At Ferozepur Road, Chaudhry Mahboob Ali Sirki Khadim Hussain and other trade leaders welcomed the Alliance leadership and candidates.

Chaudhry Mehboob Ali Sirki on the occasion announced that all Ferozepur Road businessmen would support Alliance during Chamber of Commerce and Industry elections. At Montgomery road, Abid Market, Mozang, Anjuman-e-Tajran leaders arranged a reception in honour of PIAF-Founders Alliance.

Speaking on the occasion, Associate Class leaders Muhammad Ali Mian, Sheikh Muhammad Asif, Irfan Iqbal Sheikh said that Montgomery road, Abid Market, Mozang businessmen would be given proper representation in the LCCI standing Committees. Babar Mahmood and company also welcomed alliance candidates during hall road Market visit. He assured that all traders are with alliance and they will not vote for opposition group.

On the occasion Alliance leadership said that it was on record that despite multiple challenges the outgoing LCCI leadership utilized all energies to keep the wheel of the economy on the run. The Lahore Chamber of Commerce and Industry spared no stone un-turned to safeguard the interests of the business community and it would continue to do so in future as well.

They also appreciated the trading community role in preparation of LCCI budget proposals. They said that the Alliance had decided to give special focus on Solar Energy, Halal Food, Textiles and Textile Made-ups, Pharmaceuticals, Chemicals, High Tech Engineering, Footwear and Embroidery sectors during the year to ensure an early economic turnaround.

The Alliance leaders said that these sectors had been given representation for upcoming LCCI elections with an objective to highlight the challenges being faced by these important sectors. They said that the areas of economy had been taken in the Alliance fold as they merit due public-private sectors attention.

For more information, contact:
Pakistan Industrial and Traders Associations Front (PIAF)
110/s Kot Lakhpat Industrial Estate, Lahore, Pakistan
Tel: +92-42-5123522
Fax: +92-42-5123522
Email: Info@piaf.pk

Lahore, August 14, 2018 (PPI-OT):The Pakistan Industrial and Traders Associations Front (PIAF) Chairman Irfan Iqbal Sheikh has greeted the new parliamentarians who have now taken oath in the National Assembly on 13th of August, asking them to work united for the economic development and prosperity of the country. He said that seventy years have passed since independence but our country still remains without direction, which is a bigger problem than the energy crisis, law and order situation and current dollar crisis.

He said that many policies are incoherent, there is a lack of coordination among different ministries and a lack of trust can be observed among business community and important departments. He said that the business community welcomes the victory of PTI and hopes that now uncertainty is ending and stability will come which is vital for economic growth.

He said that developed nations plan for decades and centuries while we are busy in day-to-day affairs, which has deprived the country of an opportunity to face challenges in the fast changing world. While issuing a press statement chairman PIAF Irfan Iqbal Sheikh alongwith senior vice chairman Tanvir Ahmed and vice chairman Kh Shahzeb Akram said that PIAF is hopeful that the new government, as per its manifesto, will ensure the supremacy of merit, transparency and across the board accountability, leading to progress and prosperity in the country, he stated. He said that after the successful elections now serious economic and security challenges await the new government.

On the occasion of 71st Independence Day chairman PIAF Irfan Iqbal Sheikh also congratulated the nation and asked them to work more commitment and motivation for the betterment of economic development. It is the need of the hour that we all should work with more commitment and dedication, he added.

Chairman PIAF stressed upon all the political parties to show unity on national issues, as Pakistan is currently facing many economic challenges, which can only be addressed through taking all necessary measures unanimously. He said that macro-economic reforms and necessary policy changes can turn Pakistan into an economic power, which is a must to tackle the challenges posed by the changing global scenario.

For more information, contact:
Pakistan Industrial and Traders Associations Front (PIAF)
110/s Kot Lakhpat Industrial Estate, Lahore, Pakistan
Tel: +92-42-5123522
Fax: +92-42-5123522
Email: Info@piaf.pk

Lahore, July 20, 2018 (PPI-OT): Pakistan Industrial and Traders Associations Front (PIAF) chairman Irfan Iqbal Sheikh has demanded a high-level probe into massive devaluation of rupee by over 21% during last six months. He also demanded the State Bank to identify the reasons and share the findings with the business community. He said that Pak rupee has weakened by around Rs12 against the dollar from June 1, 2018 when the caretaker government assumed the office. The rupee slide has resulted in around Rs 1,200 billion increase in the country’s debt.

The PIAF Chairman while issuing a statement alongwith senior vice chairman Tanvir Ahmed Sufi and vice chairman Shahzeb Akram, was of the view that the sharp downfall in the rupee value had not only disturbed almost all sectors of the economy but also brought a new wave of price spiral that would not die down despite dollar’s retreat. “Six rupee increase in dollar price in a single day was an unusual phenomenon for a country like Pakistan as the mafia involved in this affair made billions of rupees in a single day while on the other hand those who bought the greenback to fulfil their foreign commitments suffered a great loss.”

Chairman PIAF urged the government to take action against shortage of dollar in local market, besides controlling surge of dollar against rupee. PIAF Chairman said the local currency depreciation has inflicted heavy losses on the national economy. He said that depreciation valuation of one rupee against the dollar increases external debt by Rs 100 billion. He added the implications of depreciation are very serious on the budget deficit, inflation and on cost of doing business.

He stated that it is too early to estimate the positive impact of rupee devaluation on exports as export orders will take longer time to materialize. Irfan Iqbal said that the illegal international transactions in dollar-denominations via Dubai are creating shortage of dollars in the Pakistani open market.

The PIAF office bearers appealed the government to direct the Federal Investigation Authority (FIA), Intelligence Bureau, Customs Intelligence and the State Bank of Pakistan to keep strict vigilance to control currency and bullion smuggling. They urged the SBP to immediately take notice of the situation which is causing panic in the currency market.

For more information, contact:
Pakistan Industrial and Traders Associations Front (PIAF)
110/s Kot Lakhpat Industrial Estate, Lahore, Pakistan
Tel: +92-42-5123522
Fax: +92-42-5123522
Email: Info@piaf.pk

Lahore, July 12, 2018 (PPI-OT): Pakistan Industrial and Traders Associations Front (PIAF) chairman Irfan Iqbal Sheikh has appreciated the Caretaker government for reducing the prices of petroleum products by lowering the general sales tax on directives of the Supreme Court of Pakistan. While issuing a press statement alongwith senior vice chairman Tanvir A Sufi and vice chairman Shahzeb Akram, chairman PIAF said that the relief in petroleum prices will not only provide the much-needed respite to the masses but also reduce the cost of production and give a boost to economic activity, as the government was grabbing the public money by imposing additional taxes in the tune of about Rs10 billion.

He said that the taxes on all petroleum products was increased whenever their prices fall in global market, as the petroleum consumers were forced to pay a total amount of Rs 47.16 billion in taxes. After the recent price hike consumers were paying a per litre tax of Rs 24.77 and the diesel prices had a per litre tax of Rs 29.91.

After the recent increase in prices, per litre petrol cost constituted of Rs 11.4 in General Sales Tax, Rs 10 in way of petroleum levy, inland freight margin of Rs 3.14, withholding tax amounting to Rs 0.59, distribution margin of Rs 2.55 and dealer commission of Rs 3.35. Similarly per litre diesel price after the recent increase consisted of Rs 8 for petroleum levy, GST of Rs 20.2, inland freight charges of Rs 1.42, withholding tax of Rs 0.47, distributor margin of Rs 2.51 and dealer commission of Rs 2.67. All these additional charges which were paid at the end by consumers put an unfair burden on the public and industry.

He said that Pakistan was generating a major share of electricity through furnace oil and increase in POL prices makes the cost of manufacturing activities unviable for the private sector. He said that an increase in diesel price also further enhances transportation cost and create additional problems for the agriculture sector as most of the tube wells were running on diesel. Chairman PIAF stressed for further cut in GST as the government has reduced the GST from 17 percent to 12 percent on motor spirit and kerosene oil and from 31 percent to 24 percent on high-speed diesel, which is still high.

For more information, contact:
Pakistan Industrial and Traders Associations Front (PIAF)
110/s Kot Lakhpat Industrial Estate, Lahore, Pakistan
Tel: +92-42-5123522
Fax: +92-42-5123522
Email: Info@piaf.pk