FPCCI welcomes extension of GSP Plus by 4 years
Mr. Irfan Iqbal Sheikh, President FPCCI, has welcomed the extension of Pakistan’s GSP Plus status by EU for a period of 4 years as it will now be valid till 2027. Nonetheless, the catch lies in fully capitalizing on its preferential treatment provisions to enhance exports to EU and creating jobs for the countrymen.
Adil Aziz
Business Community appreciates Army Chief’s role in Economic stabilization
Mr. Irfan Iqbal Sheikh, President FPCCI, said that the business community of Pakistan appreciates the effective, timely and crucial role played by the Army Chief in swiftly reducing economic uncertainty; bringing back stability and fostering positive sentiment in the country.
Mehfooz
Conventional banking being shifted to Islamic mode: State Bank
Additional Director State Bank of Pakistan (SBP). Dr Mohammad Salim has said that under a ruling of the Federal Shariat Court, conventional banking in the country was being shifted into Islamic banking system to get the people rid of interest-based banking.
Editor
Any new type of wealth tax will be detrimental to economy: Suleman Chawla
Mr. Muhammad Suleman Chawla, Acting President FPCCI, has apprised that the business, industry and trade community is worried over the news that some sort of renamed wealth tax is being considered to be imposed to fulfill the never-ending, anti-business conditionalities of international financial institutions (IFIs). We have time and again maintained that business, trade, commercial…
FPCCI efforts have resulted in direct flights & Banking channel with Kazakhstan
Mr. Irfan Iqbal Sheikh, President FPCCI, has informed that FPCCI’s sustained efforts; from the platform of its high-profile Pakistan – Kazakhstan Business Council; have been fruitful on various counts: (i) direct flights have started between Pakistan & Kazakhstan (ii) commercial banking channel has been established between the two countries (iii) land-based cargo services have commenced…
Trade volume with Bahrain has surge by 400%: Irfan Iqbal Sheikh
Mr. Irfan Iqbal Sheikh, President FPCCI, has apprised that bilateral trade volume in FY 22 had surged by almost 400% with Bahrain as compared to FY 20 as it was recorded at $595.12 million in FY 22; whereas it was $119.95 million in FY 20 – however, the bilateral trade balance is in Bahrain’s favor….
Petroleum prices govt has failed to read the writing on the Wall: Irfan Iqbal Sheikh
Mr. Irfan Iqbal Sheikh, President FPCCI, has unequivocally stated that the government has no clue that what will be the socioeconomic repercussions of the third massive hike in petroleum prices as FPCCI can see the inflationary pressures to mount beyond the control of any sector or industry to absorb. Industrial shut downs; decline in exports;…
Disastrous electricity tariffs renegotiate capacity charges and put a halt on sales tax: Irfan Iqbal Sheikh
Mr. Irfan Iqbal Sheikh, President FPCCI, has said that Pakistani households and businesses are facing mounting power prices. NEPRA’s latest forecast for power purchase prices for the fiscal year 2023 – 24 reveals a substantial financial burden, with consumers to bear 68 percent of costs for fixed capacity payments; primarily benefiting coal plants. Mr. Irfan…
FPCCI concerns over power hike; demands cut in taxes
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh said that Pakistani households and businesses were facing mounting power tariff. He demanded for renegotiating capacity charges and put a halt to sales tax, besides reducing the ratio and number of taxes in the electricity bills. Addressing a press conference here at…
Scottish Minister for International Development to support trade linkages with Pakistan & FPCCI: Suleman Chawla
Mr. Muhammad Suleman Chawla, Acting President FPCCI, has apprised that Ms. Christina McKelvie, Scotland’s Minister for Culture, Europe and International Development, has expressed Scottish Government’s commitment to promote bilateral trade; B2B linkages; investments & joint ventures and cultural exchanges with Pakistan. Mr. Chawla highlighted that a high-profile delegation of FPCCI’s Pak – UK Business Council…