Trade, industry need to follow SOPs to avert complete halt in industrial wheel

Mian Anjum calls for speeding up vaccination as 3rd wave worse due to SOPs’ non-implementation: The Federation of Pakistan Chambers of Commerce and Industry’s ruling group BMP Chairman Mian Anjum Nisar has asked the traders to strictly follow the government’s SOPs in markets for curbing the spread of deadly coronavirus… Continue reading

Rs5.36/unit hike in base electricity tariff to ruin industry

Resenting frequent increase in power tariff the Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel Chairman and FPCCI former president Mian Anjum Nisar has strongly opposed the government plan of increasing base electricity tariff across the country by a cumulative Rs5.36 per unit in three phases over the… Continue reading

Lasbela Chamber of Commerce and Industry has new Secretary General

Mr. Anjum Rafat Ullah Khan has taken the charge as new Secretary General of The Lasbela Chamber of Commerce and Industry. He is however not new to the Chamber. During his long career with industries in Hub, he had remained connected with the Chamber activates for the industries located here…. Continue reading

Industry can’t claim expenditure attributable to sales made to unregistered persons

KARACHI: An industrial undertaking will not be allowed to claim any expenditure attributable to sales made to such persons who are required to be registered but not registered under the Sales Tax Act, 1990. The expenditure to be disallowed under this provision will not exceed 20% of total deductions claimed… Continue reading

Government to settle Rs82bn tax refunds to resolve cashflow issues of businessmen

ISLAMABAD: The government on Thursday vowed to settle at least Rs82 billion worth of sales and income tax refunds in a week to resolve liquidity crunch and cash flow issues of trade and industry aggravated by the coronavirus lockdown, local media reported. Adviser to the Prime Minister on Finance and… Continue reading

Ministry of Commerce proposes opening of industry with confirmed export orders

KARACHI: Ministry of Commerce has proposed to allow opening of industrial units with confirmed export orders, it was learnt. A meeting of National Command and Control Centre (NCOC), held on Thursday, decided that Ministry of Commerce will hold consultations with all the provinces for finalizing the procedure for opening of… Continue reading

KCCI calls for steps to upgrade industry otherwise exports to remain stagnant

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has said that due to rapidly changing dynamics globally and advanced methods of doing business particularly the technological advancements and innovations, the Pakistani export-oriented industries were finding it really hard to compete with their competitors which was… Continue reading

FBR’s FASTER module fails to timely process sales tax refunds

KARACHI: SITE Association of Industry has criticized the poor performance of the recently launched Fully Automated Sales Tax e-Refunds (FASTER) module, and stating contrary to FBR’s claims of processing payments of Sales Tax Refunds within 72 hours through FASTER module, exporters had not received anything. Suleman Chawla, President of SITE… Continue reading

SITE Association demands implementation of concessionary SRO

KARACHI: SITE Association of Industry has said K-Electric was not billing the industrial sector as per SRO12(I)/2019 and urged the concerned authorities to immediately issue necessary notification to implement the zero rated industries support package.[the_ad id=”31605″]President SITE Saleem Parekh pointed out that after the issuance of SRO 12(I)/2019, HESCO, FESCO… Continue reading

International Maritime Expo to help tapping unexplored maritime resources to secure future growth

KARACHI: Emphasizing the development of shipping and fishing industry, former Commander Pakistan Fleet Rear Admiral Retd. Arifullah Hussaini said that in order to increase exports and promote tourism, the unexplored avenues need to be tapped, adding Pakistan’s coast and waters had great foreign exchange generation potential. He was speaking at… Continue reading