FPCCI & Pakistan to be Chair at China-South Asia Business Forum 2024: Irfan Iqbal Sheikh
Mr. Irfan Iqbal Sheikh, President FPCCI, while participating in the 16th China – South Asia Business Forum held in Kunming China organized by the China Council for Promotion of International Trade (CCPIT) highlighted the need for trade and regional integration between China and South Asian countries. Also, in a major achievement for FPCCI, Pakistan after…
Adil Aziz
Historic hike in petroleum prices is equivalent to adding fuel to the fire: Suleman Chawla
Mr. Muhammad Suleman Chawla, Acting President FPCCI, has strongly rejected the massive hike in the prices of petroleum products effective from August 16, i.e. petrol by 6.4 percent or PKR. 17.50 per liter to make it 290.45 & high speed diesel by 7.3 percent or PKR. 20.00 per liter to take it to 293.40 per…
Islamic Finance prospects share of Islamic Banking has surpassed 21 Percent
Mr. Irfan Iqbal Sheikh, President FPCCI, has apprised that the share Islamic banking has surpassed 21 percent in Pakistan; and, it is expected to grow rapidly – as SBP has been assigned to make all banking Riba-free by 2027. He added that the growth in Islamic banking’s share is a testimony that individuals and businesses…
FPCCI & Ishaq Dar agree in principle to remove anomalies
In a high-profile meeting with FPCCI, Mr. Ishaq Dar, federal minister for finance & revenue, has agreed in principle to remove some of the major anomalies in the finance bill to accommodate the grievances, issues and apprehensions of the business, industry and trade community. The meeting was also attended by Mr. Tariq Bajwa, SAPM on…
FPCCI applauds PM for the go ahead to 13 renewable energy projects
Mr. Irfan Iqbal Sheikh, President FPCCI, has applauded the Prime Minister Mian Muhammad Shehbaz Sharif for his decisive push to green light 13 important projects in renewable energy (RE) and coming under category-III, totaling approximately 700 megawatts. President FPCCI stated that high cost of energy coupled with circular debt is hindering the industrial growth; and,…
Glaring anomalies need immediate attention of the government
Mr. Irfan Iqbal Sheikh, President FPCCI, has apprised the media that after in-depth analysis of the federal budget 2023 – 24, FPCCI has come up with many budget anomalies; which will prove to be counterproductive if not rectified before the passage of the final version of the Finance Bill by the parliament. Mr. Irfan Iqbal…
FPCCI is disappointed at maintaining status quo in policy rate
President FPCCI – country’s apex body on trade & industry – has expressed his profound disappointment over maintaining status quo in key policy rate by the State Bank of Pakistan in its latest Monetary Policy Committee (MPC) meeting and keeping it unchanged at 21 percent. The country needs proactive policymaking to ward off the impending…
Budgetary targets are unrealistic Business Community will look for any hidden taxes: Irfan Iqbal Sheikh
Mr. Irfan Iqbal Sheikh, President FPCCI, has apprised that the federal budget 2023 – 24 presents unrealistic picture of the economy; and, therefore, the budgetary targets set in the budget documents are unrealistic as well. Additionally, the business community will be looking for any hidden taxes in budget. Mr. Irfan Iqbal Sheikh said that target…
FPCCI stresses looking into alternatives and cut in policy rate for containing inflation
The Policy Advisory Board of FPCCI strongly urges that inflation is cost-pushed and policy rates have proved to be an ineffective tool to control inflation. In any case, the core inflation is still lower than the policy rates and a 100 basis points (bps) reduction in the policy rate is proposed in the upcoming monetary…
FPCCI has proposed to introduce agricultural REIT in budget
Mr. Irfan Iqbal Sheikh, President FPCCI, has apprised that the apex body has recommended to the Government of Pakistan for announcing REIT rules and regulations for the agriculture sector and this concept has been around in the world for quite a long time. Mr. Irfan Iqbal Sheikh added that his may be implemented within the…