DECEMBER-JANUARY 2018-19 ISSUE NO. 12-01
An Official Publication of the Lahore Chamber of Commerce and Industry
LCCI President Almas Hyder, Senior Vice President Vice President LCCI Faheem-Ur-Rehman Khawaja Shahzad Nasir recieving the Saigol receiving a souvenir from the Federal Finance Minister Asad Umar and Minister of State President of Pakistan Mr Arif Alvi at the 2nd for Revenue Hammad Azhar during Maritime Security Workshop organized by the Pakistan Navy at the Navy War College. their visit to LCCI.
Contents 11 13 15 17 Federal Finance Minister Ambassador of China to UAE Ambassador 4th CAC Pakistan Asad Umar Visits LCCI Pakistan Visits LCCI visits LCCI Exhibition 19 20 21 23 MD WASA visits LCCI Minister for Tourism of LCCI VP for promotion LCCI launches Oman visits LCCI of Blue Economy Employment Portal 25 26 28 29 Workshop on Self Deputy Speaker NA Almas Hyder for private LCCI foresees immense Motivation at LCCI Qasim Khan Suri visits sector representation in development in LCCI policy making auto-industry 30 31 32 34 Human & economic cost LCCI for easy Almas Hyder says be Trade Shows, of encroachment drive property registration positive for sustainable Exhibitions, mechanism economic growth Buisness Events
Almas Hyder Shahid Khalil President Chief Editor
Rashid Yaqoob Editor Khawaja Shahzad Nasir Senior Vice President Tamoor Ahmed Deputy Editor
Faheem-Ur-Rehman Saigol Humayun Sardar Vice President Manager Marketing
The Lahore Chamber of Commerce & Industry 11 Shahra-e-Aiwan-e-Sanat-o-Tijarat, Lahore Pakistan. Tel: 042-36305538-40 UAN: 111-222-499 Ext: 361 Fax: 042-36368854 Email:[email protected] Website: www.lcci.com.pk Federal Finance Minister, Minister of State for Revenue, Provincial Minister for industries, Chairman FBR Visit LCCI Business community to be given single tax collector facility in next federal budget: Asad Umar ederal Finance Minister Asad Umar has pledged to make clubbing of taxes in the Elimination of Regulatory Federal Budget to facilitate the businessmen Duties (RD) on all raw material who paying a large number of taxes. FFederal Minister made this announcement on lines vital to reduce the cost of doing demand of the LCCI President Almas Hyder while business and making manufacturing speaking at the Lahore Chamber of Commerce & Industry. The LCCI Senior Vice President Khawaja competitive. Shahzad Nasir, former office-bearers and Executive Almas Hyder President LCCI Committee Members also spoke on the occasion.
that interest rate is the matter of central bank saying that savings are a must for sustainable economic development. Last year, saving were only 10.4 per cent that were very low. These should be 25 to 28 per cent to achieve the annual growth target of 7 per cent. State Bank of Pakistan would have to maintain a balance. He said that industries are provincial subject after 18th amendment. Federal and Provincial government would take stakeholders on board to get their valuable feedback. He said that Special Economic Zones are of utmost importance. “I believe that operations of these SEZs should be in the hands of private sector”, Federal Finance Minister added and said that Information Technology Sector is near to his heart. Special Economic Zones are of A task force has been formed and soon a package will utmost importance. “I believe be announced for IT sector. He said that Privatization commission has been asked to work with full throttle that operations of these SEZs for loss making public sector enterprises. He said that 11-member board has been formed for “Sarmaya should be in the hands of private Pakistan” that would have 8 representatives from sector”, private sector while remaining will be from the government. Asad Umar Federal Finance Minister The LCCI President Almas Hyder said that the benefit of the payment of Refunds through Asad Umer said that business community would be given the facility of single tax collector in the coming federal budget. He said that trust building between government and business community is need of the hour as private sector will be leading economy in the 21st century while government would act as facilitator. He said that FBR and private sector would have to give honor to each other for trust building.
He said that promissory notes for industrial sector News Chamber Lahore was the idea of private sector and it will help resolve the issue of liquidity. He said that cabinet will 11 approve finance bill soon. To a question, he said startups in Pakistan. To enhance Industrial policy draft has been approved the exports of IT sector, it should also be included in the priority by the cabinet while work on Quaid-e-Azam sectors for export oriented Apparel Park on 1500 acres and Special Economic investments. Appropriate and easy payment solution also needs to be Zones is well on the way. designed for IT sector. Mian Aslam Iqbal Provincial Minister for Industries Mian Muhammad Ashraf called for immediate measures for promissory note should also be extended to all the rehabilitation of steel industry, Farooq Iftikhar said other sectors in addition to five zero rated sectors. He that issues of local producers of LPG should be said that elimination of Regulatory Duties (RD) on resolved. Mian Anjum Nisar urged the government to all the raw material lines to reduce the cost of doing allow purchase of land and vehicles to the non-filers. business and making manufacturing competitive. Muhammad Ali Mian said that old industries should He said that government should take steps to also be given same facilities which are being offered reduce the interest rate. The recent hike in the SBP to the newly established. Sohail Lashari called for policy rate to 10% (highest in five years) has made borrowing highly expensive for private sector and discourages investment that needs debt financing. The Government should rezone urban centres, demarcate industrial land and set up SEZs all over Pakistan. The LCCI President said that the exemption from the payment of Sales Tax on imported plant and machinery for Greenfield projects in the Mini-Budget should also be granted to the brownfield projects for Balancing, Modernization and Replacement of existing units. For the hand-holding of SME sector and enabling it to realize its true promotion of tourism industry while Shahid Hassan potential, the Government should announce a five Sheikh called for elimination of Saturday’s off. year Tax Holiday for the new SMEs. He said that Federal Minister of State for Revenue Hammad Prior notice should be served before the visit of Tax Azhar said that Standard Operating Procedures Officials on the premises of business community. (SOPs) are being evolved for issuance of tax Almas Hyder said that the total number of taxes exemption certificates. He said that raids at business should be reduced to 6 by clubbing Labour related premises have been ceased and SOPs are being taxes e.g. EOBI, PESSI, WPPF, WWF Professional formed in this regard as well. He said that Tax and Property Tax Federal and Provincial Sales Tax. Reforms Implementation Committee is active while The frequency of the tax payments of above proposed tax policy and tax administration are being separated. labor tax (EOBI, PESSI, WPPF, WWF Clubbed) and Chairman Federal Board of Revenue Dr. Jahanzeb Sales Tax (Federal and Provincial Clubbed) should Khan said that FBR reforms are one of the top be once a year. The frequency of the payments of priorities of the government for trust building. He Corporate Income Tax should also be once a year. said that litigation is nothing else but waste of time This will bring down the total frequency of tax and capital. He said that alternative dispute resolution payments to 6 a year. mechanism is being promoted to settle the issue out The services sector (Wholesale & retail trade, of court. He said that Lahore Chamber will be FBR’s Transportation, Storage & Communication, Finance partner in this regard. He said that Tax-to-GDP ratio & Insurance and Housing) is the main driver of would have to make better. economic growth in Pakistan with a contribution of Provincial Minister Mian Aslam Iqbal said that draft 60 percent in the GDP. To enable the services sector of industrial policy has been approved by the cabinet. to realize its potential in terms of exports, it should Work on Quaid-e-Azam Apparel Park on 1500 acres be incentivized and included in the priority sectors Lahore Chamber News Chamber Lahore and Special Economic Zones is well on the way. in the “Trade Related Investment Policy Framework Cabinet has also passed labour deletion policy while 12 2015-2023” for export oriented investments. rules and regulations for land lease policy would be The IT sector in Pakistan has remarkable potential forwarded to the cabinet for approval soon. as evident by the increasing number of IT based No quota restriction for Pakistani businessmen, says Chinese Ambassador mbassador of China to water, poverty alleviation and socio Pakistan Yao Jing has said economic development of less From 2014 on, the that China has no quota developed areas like Balochistan and average increase in restrictions for Pakistani Khyber Pakhtunkhwa. Pakistan’s imports businessmen. He said that Special Economic from China are almost $ 2 AHe was speaking at the Lahore Zones are also underway which billion per year. In contrast Chamber of Commerce & Industry. should be given priority because they LCCI President Almas Hyder would boost joint ventures, private to that Pakistan’s exports presented address of welcome while to private cooperation specially in are constantly dipping. Senior Vice President Khawaja manufacturing and socio-economic Almas Hyder President LCCI Shahzad Nasir, Vice President sectors of the country. He added Hyder informed that the LCCI delegation is visiting China in March, the Ambassador ensured full cooperation and support to the delegation. “There is a dire need to find ways to develop consistent policies and stable economic relations with each other. Our present level of trade seems to be the result of lack of knowledge about the mutual potential of Pakistani and Chinese economies”, the Ambassador Ambassador of China to Pakistan Yao Jing has said that China has no quota restrictions for Pakistani businessmen. He was speaking at the Lahore Chamber of Commerce & Industry. LCCI President Almas Hyder Faheem-ur-Rehman Saigol and that 70-80% priority would be given presented address of welcome while Executive Committee Members were Pakistan’s share with main focus to Senior Vice President Khawaja also present on the occasion. enhance exports of Pakistan. Shahzad Nasir, Vice President The Chinese Ambassador said that When the LCCI President Almas Faheem-ur-Rehman Saigol and mutual trade can be enhanced through people to people direct contact. Businessmen of both the countries should play their role to further increase bilateral trade. He said that good trade policies, low rate of taxes, tax incentives and business-friendly environment in Pakistan can attract huge Chinese investment. The Chinese Ambassador said that under Joint Coordination Committee meetings, they are working on several projects under the China-Pakistan Economic Corridor like power
plants, Railways, Metro train, News Chamber Lahore road infrastructure and Gwadar port. He said that Chinese 13 government is also focusing on health, education, agriculture, trend from the last four years in particular. From 2014 on, the average increase in imports from China is almost dollar 2 billion per year. In contrast to that Pakistan’s exports are constantly dipping for the last three years. Almas Hyder said that Prime Minister of Pakistan visited China in November 2018 and he was given that assurance that China would offer special concessions to Pakistan for enhancing exports. He said that China and Pakistan have agreed upon sharing trade related data to address the issue of disparity in the figures of imports and exports between two countries. Executive Committee Members were that Pakistan and China being For example, Pakistan’s imports from also present on the occasion. steady geo-political partners have China in 2017 were shown as dollar The Chinese Ambassador said very cordial relations. CPEC 15.4 billion on ITC website. When that mutual trade can be enhanced which is part of the Belt and Road the base country is taken as China, through people to people direct Initiative promises even greater the same source shows that China contact. Businessmen of both the fortunes for us. It will certainly exported to the tune of dollar 18.3 countries should play their role to prove to be a game changer. “Be it billion to Pakistan. further increase bilateral trade. electricity generation, infrastructure He said that good trade policies, The LCCI President said that due low rate of taxes, tax incentives and Our present level to misdeclaration, both countries business-friendly environment in are suffering losses to their national Pakistan can attract huge Chinese of trade seems to exchequers therefore necessary investment. measures should be taken to stop it. The Chinese Ambassador said that be the result of lack of He said that Pakistan has not been under Joint Coordination Committee knowledge about the able to reap full benefits of FTA with meetings, they are working on China in terms of exports as China several projects under the China- mutual potential of has given better tariff rates to ASEAN Pakistan Economic Corridor like countries. Since the said FTA is being power plants, Railways, Metro train, Pakistani and Chinese re-negotiated, so, we would like you road infrastructure and Gwadar port. to take the aforementioned fact into He said that Chinese government is economies. consideration. also focusing on health, education, Yao Jing Ambassador of China He proposed formation of a Task agriculture, water, poverty alleviation Force comprising members of and socio economic development of business community of Lahore and less developed areas like Balochistan Chinese counterparts to address and Khyber Pakhtunkhwa. development, technology transfer, these concerns. He said that due to He said that Special Economic knowledge sharing or joint venture the buildup of unfavourable trade Zones are also underway which projects with Chinese firms, Pakistan scenario for the Chinese companies should be given priority because they knows that tomorrow is bound to get in USA, many of these companies would boost joint ventures, private better than today”, he added. are relocating to India, Vietnam and to private cooperation specially in It is worth mentioning that bilateral Cambodia etc. but not to Pakistan manufacturing and socio-economic trade figures are following increasing that is surprising. sectors of the country. He added that 70-80% priority would be given Pakistan’s share with main focus to enhance exports of Pakistan. When the LCCI President Almas Hyder informed that the LCCI delegation is visiting China in March, the Ambassador ensured full cooperation and support to the delegation. “There is a dire need to find ways to develop consistent policies and stable economic relations with each other. Our present level of trade seems to Lahore Chamber News Chamber Lahore be the result of lack of knowledge 14 about the mutual potential of Pakistani and Chinese economies”, the Ambassador added. LCCI President Almas Hyder said UAE Ambassador visits LCCI UAE Consulate to start operations in Lahore soon: Ambassador o facilitate the business UAE companies visited Pakistan community, Consulate of and had meetings with their Pakistan and UAE United Arab Emirates will Pakistani counterparts. He said that have close diplomatic start operations in Lahore UAE investors are interested to Tsoon. invest in renewable energy, power, relations. These ties It was revealed by the Ambassador oil and gas sectors of Pakistan. of UAE Hammad Obaid Ibrahim The LCCI President Almas Hyder are well reflected in Salem Al-Zaabi while speaking at said that Pakistan and UAE have sizeable trade volume the Lahore Chamber of Commerce close, diplomatic and cooperative & Industry. The LCCI president relations. These ties are well and cooperation Almas Hyder presented the address reflected in sizeable trade volume in various fields of welcome while Senior Vice and cooperation in various fields President Khawaja Shahzad Nasir, including defence sector. including defence former President Malik Tahir “We hope that the recent visit of Javed, former Senior Vice President our Prime Minister to UAE to meet sector. Amjad Ali Jawa, EC members Ch. His Highness Sheikh Mohamed bin Almas Hyder President LCCI Aurangzeb Aslam, Naeem Hanif, Zayed Al Nahyan, Crown Prince Mian Zahid Javed and Adeeb of Abu Dhabi would contribute below one billion dollar which Iqbal Sheikh were present on the towards strengthening ties between went as high as dollar 2.87 billion in 2012. The volume of exports to UAE in 2017 was just dollar 869 million. It is a matter of concern for us and we are keen to revive the same level. He said that there is a consistent rise in imports from UAE to Pakistan. From 2015 on, the imports figures are going up year after year closing in at dollar 7.52 billion in 2017. Pakistan’s major items of exports to UAE are rice, meat, bed & kitchen linens, fresh fruits and vegetables etc. Similarly Pakistan imports crude oil, petroleum products, ferrous waste & scrap of iron & steel, polymers of ethylene and propylene etc. He said that the workers’ remittances play occasion. two countries”, the LCCI President a substantial role in strengthening The Ambassador said that said and added that UAE and the balance of payment. At present, Pakistan’s Ministry of Foreign Pakistan are major economic and our country is in great need of Affairs has issued NOC for trading partners. Among the top additional remittances. He said establishment of UAE Consulate importing and exporting countries that UAE comes at second place in Lahore. He said that it is a giant for Pakistan, UAE comes at 2nd with regards to receiving highest leap towards expanding mutual and 7th places respectively. amount of foreign remittances. He trade and economic ties. Almas Hyder said that the balance said that UAE has imposed new He said that UAE and Pakistan have of trade has always been in favour restriction for seeking work visa. agreed to sign a new agreement of UAE because major share of Special preference should be given to further strengthen bilateral imports made from UAE consist to Pakistan so that we could send relations. He said that two recent of petroleum products and crude manpower to UAE. Almas Hyder News Chamber Lahore visits of Prime Minister Imran oils which stood at around 85% last said that other than professionals, 15 Khan have opened new avenues year. He said that during last three we can provide technically skilled for cooperation. He said that 15 top years, Pakistan’s exports remained workers. High Commissioner says Sri Lankans love Pakistanis
igh Commissioner of Sri La nka Noordeen Mohamed Shaheid has said that terrorism Hremained a big challenge for Sri Lanka but today Sri Lanka is a peaceful country. He said “we have defeated terrorism but this target could not be achieved without immense support of Pakistan. He was speaking at the Lahore Chamber of Commerce & Industry. The LCCI President Almas Hyder presented the address of welcome while Senior Vice President Khawaja Shahzad community should avail this great of Pakistan and it is encouraging to see that bilateral trade figures Nasir, Vice President Faheem-ur- opportunity. He said that Pakistan are following increasing trends. Rehman Saigol also spoke on the and Sri Lanka are members of SAARC and enjoy friendly The overall trade figures went up occasion. Executive Committee from dollar 314 million to dollar Members and former office- relations based on historical linkages. He said that cooperation 372 million during 2016 and 2017. bearers were also present on the Pakistan is exporting cotton, between two countries especially occasion. pharmaceuticals, cement, rice, The High Commissioner said that in defence sector has played major fertilizers and home textiles etc. to Sri Lankan nation has great honor role in further strengthening the Sri Lanka. The imports from Sri of Pakistan and learnt a lot from mutual ties. Lanka are vessels for breaking up, its experience. He said that Sri He said that both the countries vegetable products, fibre board of Lanka and Pakistan have signed are steady trading partners. By woods, natural rubber and fruits Free Trade Agreement (FTA) signing Free Trade Agreement etc. Almas Hyder said that there is but some certain issues need in June 2005, the private sector considerable demand in Sri Lanka to be resolved. The Agreement representatives of Pakistan and Sri Lanka were provided with for Pakistani products like light should be implemented and made engineering goods, auto parts, beneficial for both countries. He greater opportunities to take the trade and economic relations to industrial raw materials, surgical said that there is a vast scope for instruments and plastic goods the next level. He said that from the expansion of two-way trade etc. “We are in a position to easily between Pakistan and Sri Lank. 2005 on, there was significant tap the market demand of Sri Both countries should introduce increase in bilateral trade but it Lanka in fields like sports goods, new products for trade and make is also a fact that we have so far electrical fans and household business-to-business contacts not succeeded to fully exploit the appliances etc.”, he added and said stronger. He said that Sri Lanka existing potential of trade between that the business communities offer huge opportunities in various two countries. He said that among of the two countries should keep the top importing and exporting on exploring the opportunities
Lahore Chamber News Chamber Lahore sectors of economy. of mutual interest. Business The LCCI President Almas Hyder countries for Pakistan, Sri Lanka 16 delegations composed of sector- said that Sri Lanka is at take- comes at 43rd and 19th places respectively. specific participants or product- off stage and Pakistani business The balance of trade is in favour specific groups of entrepreneurs 4th CAC Pakistan Exhibition ‘Exhibition to help tap true potential of agriculture sector’ Minister for Excise Hafiz Mumtaz Ahmed, LCCI President Almas Hyder inaugurate the Exhibition pesticides, seeds and fertilizers. The LCCI President said that well performing and high yielding agri sector is the need of the hour. Pakistan cannot do well without improving agriculture sector. For ensuring long term growth, it is necessary that all the sectors of Well performing and high yielding agriculture sector is the need of the hour, Pakistan cannot do well without improving the agriculture’ wo-day CAC Pakistan were present on the occasion. Exhibition organized by Thousands of people attended the performance the Lahore Chamber of opening ceremony and shown Almas Hyder Commerce and Industry keen interest in agri products President LCCI Tat the Expo Center with an displayed at over 50 stalls, set objective to promote agriculture up by the 34 Chinese and 16 sector of Pakistan. Pakistanis companies. economy pick up and complement Provincial Minister for Excise and Minister for Excise hoped that each other to excel. He said that Taxation Hafiz Mumtaz Ahmed, the exhibition will help tap true agriculture sector cannot be left who was representing Chief potential of agriculture sector. He out due to inherited limitations of Minister Punjab and the LCCI said that latest President Almas Hyder jointly technology is need inaugurated the Exhibition. of the hour to The LCCI Senior Vice President enhance per acre Khawaja Shahzad Nasir, Vice yield that is low as President Fahim-ur-Rehman compared to the Saigol, Ms. Maggie Ma from Sub- other countries. Council of Chemical Industry, He said that China, Director of China Council CPEC will open for Promotion of International up new avenues Trade Ms. Isabel Dong, Chairman of cooperation Engineering Council of Pakistan in agriculture Engineer Jawed Saleem Qureshi, sector as it would Muhammad Nadeem Qureshi, help transfer News Chamber Lahore Chairman Pakistan Crop of technology 17 Protection Association Sheikh pertaining to Muhammad Arif and exhibitors agro chemicals, resources and various challenges in the way of moving from conventional method of farming to modern technologies. “We desperately require locally developed as well as imported solutions in the fields of fertilizers, pesticides, seeds, agriculture machineries and equipment etc. We are glad that our Chinese friends who have developed cost effective solutions in these areas, are offering these solutions at reasonable rates to us. It is important to mention that these Chinese companies are gathering a lot of success on account of the ocean. He said that recent visit we have to take revolutionary improving their standard and of PM was successful and further measures to grow our agriculture products range”, He added. strengthened the mutual relations. sector of Pakistan. He said that 80 Ms. Maggie Mah said that Khawaja Shahzad Nasir and to 90 per cent farmers of Punjab Pakistan is one of the top ten Fahim-ur-Rehman Saigol said it is are small therefore their welfare exporting markets for China and encouraging to should be top priority of the see that some of our local manufacturers It is encouraging of pesticides to see that have started to export their some of our local products to manufacturers of Middle East and African pesticides have countries. It is the result started to export of importing their products to Chinese machinery Middle East and displayed African countries. in last three their mutual relations are sweeter Khawaja Shahzad Nasir than the honey and deeper than editions of CAC Pakistan. The present scenario demands that Senior Vice President Present scenario government and private sector need to join hands to make the government. demands that most of the available resources Chairman Crop Protection the government through introducing innovative Assocition of Pakistan Sheikh ways. Muhammad Arif said that and private sector Jawed Saleem Qureshi said that growing interest of Chinese Punjab is agriculture based companies in CAC Pakistan join hands to make province but it’s per acre yield is Exhibition is a welcome sign. the most out of lower than Sindh. He said that available resources through introducing innovative ways at affordable prices to
Lahore Chamber News Chamber Lahore our farmers. 18 Faheem-ur-Rehman Saigol Vice President MD WASA visits LCCI WASA plans to utilize surface water for Lahore area: Syed Zahid Aziz he Managing Director they are working on multipronged as per the use of water. (MD) of the Water and strategy and bringing regulations The best way is to conduct a new Sanitation Authority for mosques, shrines and car survey so that re-assessment of all (WASA) Syed Zahid wash. WASA customers could be done. TAziz during his visit to the He said that water act has been Secondly, WASA should install Lahore Chamber of Commerce forwarded to the cabinet and after meters at all the industrial and & Industry, showed flexibility its approval water commission commercial units so that billing towards new industrial water and regulatory authorities would could be generated according to tariff. The LCCI President Almas Hyder, Senior Vice President Khawaja Shahzad Nasir, Vice President Faheem-ur-Rehman Saigol and Executive Committee Members also spoke on the occasion. The MD WASA said that lowering under ground water level is a matter of concern as water is going down with an average of one meter per annum. He said that WASA is working on plan to utilize the surface water for Lahore area and by 2035 it is expected that 90 percent of water for Lahore will be coming from the surface water. He said that irrigation department has allowed WAPDA to use 100 cusecs water from Bambawali Ravi Bedian (BRB) canal which will be be formed. He said that in there the actual use of water. is a demand of one million water He said that LCCI members meters in Punjab but not a single have complained that WASA Industry is already in has added heavy amounts in manufacturer unit exits. Private bills as ‘Arrears’ from nowhere. trouble due to high sectors should pay attention They are neither defaulters of towards this issue. WASA nor using excessive water input cost, falling The LCCI President almas for commercial purpose. These competitiveness, Hyder said that WASA has arrears should be waived. fixed Rs.100,000 per month and He said that sewerage system strategy of fixation Rs.50,000 per month respectively of Lahore especially in the of water charges for installation of tube-well of 1 old markets of Lahore where cusec and ½ cusec. sewerage pipelines are either will bring more The industry is already in damaged or dysfunctional. In trouble due to high input cost, the rainy season, we have to face challenges for the falling competitiveness in the flood-like situation whenever industrial sector. international market and various there is heavy downpour. There other challenges. is a dire need to improve the Almas Hyder President The strategy of fixation of existing drainage system. During News Chamber Lahore LCCI water charges will bring more winter season, WASA should challenges for the industrial initiate some construction work 19 enhanced in phases. Syed Zahid sector. It would have been much Aziz said that to save the water, so that sewerage system could be appropriate, if bills are generated reconstructed gradually. Pakistan’s tourism industry grows because of peaceful environment: Khawaja Shahzad Nasir inister for Tourism Hiking, Historic of Oman Ahmed Bin & Cultural Oman has rich experience in Nasser Al Mahrizi Locations, Forts, has said that private World Heritage oil exploration and Omani Msectors of Oman and Pakistan can sites, Cultural companies can go for joint venture play an important role to tap huge Festivals and economic potential in various Sporting and in exploration of oil in Pakistan. sectors of both countries. adventure Faheem-ur-Rehman Saigol Vice President He was speaking at the Lahore events. He said Chamber of Commerce & that Oman and Saigol said that Tourism industry Industry. The LCCI Senior Vice Pakistan can work together in of Pakistan is growing because of President Khawaja Shahzad tourism sector. He invited the peaceful environment all across Nasir, Vice President Faheem- LCCI delegation to visit Oman the country, foreign tourists are ur-Rehman Saigol,Executive and explore trade and investment feeling safe to visit Pakistan. Committee Members and former opportunities. He said that Oman They invited Omani investors to invest in tourism industry of Pakistan and avail huge benefits. They said that Oman has a rich experience in oil exploration, therefore Omani companies can go for joint venture in exploration of oil in Pakistan. Moreover, Pakistan can provide manpower services in sectors like education, health, engineering, construction, telecommunication and etc. Former Omani Ambassador Abdullah Bin Zaher Bin Saif Al Hussaini said that he wants to look more Pakistani Businessmen in Oman. He Omani Ambassador Abdullah Bin is one of the few countries who said that Omani respects Zaher Bin Saif Al Hussaini also had signed Free Trade agreement Pakistani brothers a lot. Zafar spoke on the occasion. with United States. It can be Iqbal Chaudhry, Naeem Hanif, The Minister said that chambers beneficial for Pakistani business Khaleeq Arshad, Dr. M Arshad, of both countries should establish community as well. He said that Mian Zahid Javaid, Aqib Asif, strong contacts and ensure timely Oman has road communication Rehmatullah Javed, Aqib Asif and dissemination of trade related with Africa, Yaman and Arab Zafar Mahmood were also present information. He said that the Countries. It is a hub of economic in the meeting. tourism industry of Oman is activities in this geographical They said that Oman has a rich experience in oil exploration,
Lahore Chamber News Chamber Lahore growing rapidly. territory. There are a lot of tourist LCCI Senior Vice President therefore Omani companies can 20 attractions which includes Khawaja Shahzad Nasir and Vice go for joint venture in exploration beaches, Desert Safari, Caving, President Faheem Ur Rehman of oil in Pakistan. LCCI Vice President for promotion of Blue Economy ice President of the Lahore Chamber of Commerce V& Industry (LCCI) Faheem-ur-Rehman Saigol has said that dream of economically strong Pakistan can easily come true if we focus on “Blue Ocean Economy” and avail all of those opportunities which land-locked countries don’t have. The LCCI Vice President said that unlike various other countries, Pakistan has a vast area of deep blue sea with ideal ports of Gawadar, Keti, Qasim and Pasni but role of these valuables tourism to mineral extraction. said that every country relies on in economy is not as important as He said that fisheries, oil drilling, Maritimes trade to sell what it it should be despite the fact that ship building and ship breaking has and buy what it needs. He strong economy guarantees good industries have a lot of economic said that around 90 per cent of defense. scope. He said that Pakistan can world trade is carried by the earn billions international shipping industry. of dollars He said that Pakistan can grab Maritime transport is through immense benefits from these backbone of global trade and exports of sector through public-private economy, around 90 percent sea food but partnership. During the workshop during the Chief of Navel Staff Admiral Zafar of world trade is carried by the fiscal year Mahmood Abbassi have lauded international shipping industry. 2017-18, the role of Lahore Chamber for Pakistan can grab immense its fisheries the promotion of Blue Economy. exports benefits from these sector through He said that importance of remained just maritime has been increased public-private partnership. $ 451.026 after China Pakistan Economic million. Corridor project under One Belt Faheem-ur-Rehman Saigol Vice President Faheem-ur- One Road program. Pakistan He said that blue ocean economy Rehman Saigol said that maritime Navy is fully capable of defending News Chamber Lahore is ranging from transportation of transport is backbone of global national maritime interests. 21 trading goods, communication, trade and global economy. He President LCCI speaks at annual function of FLASH Justice for all a must to ensure peaceful society: Almas Hyder
resident of the Lahore Chamber of Access to justice is indeed a Commerce & Industry Almas Hyder said that justice cannot be ensured until it is fundamental right that should conveniently dispensed on the doorsteps of easily be available to every citizen. Pthe people living below the poverty line. He was speaking at the annual function of Free Legal Almas Hyder President LCCI Aid Society for the Help Less (FLASH) here at the Lahore Chamber of Commerce & Industry. President humanity. Most of them work in areas the problems FLASH Shahid Ikram Siddiqui, Sheikh Abdul Majeed of which are witnessed nearly every day by almost and Asif Saeed also spoke on the occasion. everyone, e.g. poverty alleviation, education, health, Almas Hyder said that justice for all can ensure a water and sanitation, environment, human rights, peaceful society. He said that the right of having women and children rights, consumer rights etc. access to justice is indeed a fundamental right that Though absence of the right to access to justice is should easily be available to each and every citizen noticed in a few cases that are highlighted by the of Pakistan. But in real terms how many of them media for one reason or the other, yet the tail-enders actually happen to become recipients of justice when of those rundown by inaccessibility to this right are they are in dire need of it? The rigors and inequities the ones rotting behind the bars for indefinite time prevalent in our Society in reality, however, make just because they do not have enough resources and/ the obtaining of or awareness. justice extremely “Nonetheless, difficult in we hardly come the real life across with such situations that examples in our confront our everyday life. citizens. Probably, that is The LCCI why this most President said crucial issue that there is fails to attract acute lack the attention of financial of most of the resources that philanthropists is an endemic of the society. fact of life in Recognizing and our country. This gets invariably coupled with the addressing this issue is exceedingly important, since very wide spread ignorance that our citizens have in it is concerned not only with a huge number of the respect of legal procedure. This naturally gets further destitute litigants but also bound to affect the present accentuated for sheer lack of proper legal assistance and future of their families and next generations. In from legal experts and the inability of the accused/ order to meet the pressing social need of providing litigant to get the services of counsel due to financial free legal aid to the disadvantaged, including the restraints. destitute prisoners, a vigorous initiative has always He lauded the efforts of Free Legal Aid Society for the been needed”, he said and added that sensitizing the Help Less (FLASH) for actively engaging in a broad society about this burning issue may not be very spectrum of social welfare activities, particularly, for Lahore Chamber News Chamber Lahore easy as it is not expected to bring fame and riches the weaker segments of the society. 22 for the doers, still it is something that would be most President FLASH Shahid Ikram Siddiqui said that a desirable in terms of true and pure philanthropy. large number of working for the welfare of the ailing LCCI launches Employment Portal for youth, business community
he Lahore Chamber of Commerce & Indus- try Wednesday launched “LCCI Employ- Human capital remains one of ment Portal” in collaboration with Rozee. the most important challenges Tpk and has become first chamber of the country to implement take such an initiative to help govern- for businesses. ment bring down graph of unemployment. Almas Hyder LCCI President LCCI President Almas Hyder inaugurated the portal along with Chairman & CEO of Rozee.pk Mohsin Exchange portal which can be utilized by all the Rehman. LCCI Vice President Faheem-ur-Rehman members of Lahore Chamber totally free of charge. Saigol also spoke on the occasion. On the occasion, the Lahore Chamber of Com- LCCI President Almas Hyder said that finding merce & Industry and Rozee.pk also signed a human capital remains one of the most important Memorandum of Understanding (MOU). The challnges for businesses. “LCCI Employment LCCI President Almas Hyder and Chairman Portal” is equipped with latest filters options will & CEO of Rozee.pk Mosin Rehman inked the greatly help our members to fill their vacant job document. According to the MOU, the LCCI will positions without spending money on job ads and be controlling the portal through administrative wasting a lot of time in screening or short-listing features and by accessing reports to understand relevant job applications besides allowing create and manage the program. Rozee.pk will manage accounts, post jobs, search desired candidates and day to day technical operations of the portal to mark hires through the platform. It is also a giant ensure smooth running of the exchange. Rozee. pk will invest in development costs to build the
leap towards providing job opportunities to the News Chamber Lahore youth. LCCI employment exchange for LCCI and bear the He said that Rozee.pk is a famous website of jobs expenses of hosting, servers, bandwidth and main- 23 seeking and has developed LCCI Employment tenance. The LCCI and its members will receive these services on a free-of-cost basis. “Industrial revolution” SPEL Pakistan Goes Robotic PEL Pakistan has become and as Enablers to Help Our and introduced many items first first Pakistani industrial Enterprises group to have installed Adopt robots to work its assembly Advanced Slines. Manufacturing The industrial robotic system Processes was jointly inaugurated by the to Increase President & Chief Executive Productivity. Officer of Honda Cars Pakistan “We live in Limited Hironbou Yoshimura and an era where the LCCI President Almas Hyder robotics and on Saturday. CEO SPEL Zia Hyder automation Naqi, Vice President Production technology of Atlas Honda Cars Pakistan have Limited Kenichi Matsuo, Assistant brought fundamental changes time in Pakistan. He said that Vice President M. Ashraf, General in industries”, Almas Hyder difference between filer and non Manager Asif Mehmood, Advisor added and said that aadvantages filer is shrinking the auto market to Chief Engineer Quality commonly attributed to as non filer cannot purchase Toshinori Awaya, Senior Manager automation include higher vehicles. He said that a large Purchasing Shinji Shinozawa. production rates and increased people from Gilgit Baltistan, Honda Cars Pakistan Limited productivity, more efficient use Triable areas and from agriculture Hironbou Yoshimura said that of materials, better product sector do not need to file returns. installation of industrial robotic quality, improved safety, shorter They should be allowed to system is an impressive initiative. workweeks for labour, and purchase vehicles. He said that auto market of reduced factory lead times. The LCCI President said that Pakistan has huge potential. He Higher output and increased SPEL Group has laid a foundation said that they want to enhance productivity have been two of Robotics and business in Pakistan as despite the biggest reasons in justifying automation are key some challenges, customer the use of automation. Despite areas of focus, both as demand is still there. the claims of high quality from a potential new growth area, The LCCI President Almas Hyder good workmanship by humans, and as enablers to help our said that the global industrial automated systems typically enterprises adopt advanced robot market is expected to reach perform the manufacturing manufacturing processes to at the growth rate of around 9% process with less variability than increase productivity. as need for automation is rising. human workers, resulting in Almas Hyder President LCCI He said Robotics and Automation greater control and consistency of are key areas of focus, both as product quality. Also, increased a Potential New Growth Area, process control makes more by installing industrial robotic efficient use system and other sectors should of materials, follow the footprints as future resulting in less is connected with technological scrap. advancement. About SPEL, CEO SPEL Group Zia Hyder said Almas Hyder that it has been a fruitful journey said, the as SPEL group contributed to the
Lahore Chamber News Chamber Lahore company was national economy as it started 24 produced exports in 70s. He said that we are miracles after focusing to invest in technology its foundation and human resources. Workshop on “Self-Motivation & Stress Management” at LCCI tressful environment hits the productive the efficiency of a worker or an officer nose dive while activities therefore its management is direly in a stress free atmosphere, the efficiency of worker needed, not only to ensure good amount of even surpasses his or her abilities”, they said and productivity but to maintain healthy relations added that regular stress management practice stave Sbetween employer and workers. off the negative effects of stress, but it can also bring This was crux a workshop on “Self-Motivation and positive outcomes like increased productivity, better Stress Management” at the Lahore Chamber of health and more happiness in general. Commerce & Industry. The LCCI Acting President At workplace issue management is the key to success Khawaja Shahzad Nasir, Vice President Faheem-ur- and in order to determine and succeed at a winning Rehman Saigol, Leadership Trainer Tanzila Khan, position, a successful issue manager should begin by former LCCI Presidents Shahid Hassan Sheikh, Zafar thoroughly and carefully identifying all stakeholders Iqbal Chaudhry and Engineer Sohail Lashari and and their particular interests. For the sake of Executive Committee Members also spoke on the definition, stakeholders are generally comprised of a occasion. diverse group of people and depending on the issue at hand, may include business owners, local, state, “Through stress management, the businessmen could and federal elected officials, constituents, customers, not only save their time and energy but money as well. competitors, colleagues and peers, or simply the Stress has direct bearing on the efficiency of a person general public. Consequently, any solution to resolve and resultantly on an industrial unit therefore a proper a conflict among opposing viewpoints must take into strategy to manage stress must be part of training of account the interests and concerns of all stakeholders top management officials.” and seek unifying and mutually-beneficial solutions. The Trainer Tanzila Khan quoted a number of Not only this is excellent issue management, but it examples whereby an industrial unit touched the promotes positive public relations and turns issues zenith by adopting stress management strategies or by into opportunities for the growth of a community. implement best business doing practices. The Workshop was also attended by Mian Nauman “It is common experience that in a stress at workplace, Kabir, Amjad Ali Jawa, Bao Bashir, Khalique Arshad, Haris Attique, Nisar A h m e d , Aurangzeb Aslam, Mian Zahid Jawaid, Aqib Asif, Usman Khalid, Faisal Iqbal
Sheikh and News Chamber Lahore M a r g h o o b 25 Shakir Izhar. Deputy Speaker National Assembly Qasim Khan Suri visits LCCI Cumbersome, anti-business rules and regulations always promote corruption: Almas Hyder eputy Speaker of one-window Debt burden has reached National Assembly and all other Qasim Khan Suri has facilities as they to Rs 30,000 billions. In last said that government are working decade, Rs.24,000 billion have been Dis making all-out efforts to in difficult borrowed but situation in all sectors overcome inherited economic circumstances. crisis. Business community has a Business of economy remained discouraging. key role in economy and economic community Deputy Speaker challenges will be tackled with their across the cooperation. country should NA Qasim Khan Suri have equal He was speaking at the Lahore facilities. He Chamber of Commerce & Industry. said that efforts from IMF is essential than no harm The LCCI President Almas Hyder, are well on the way for trade in conditions should be accepted. Senior Vice President Khawaja local currency. He said that 100- Almas Hyder said that there are Shahzad Nasir and Faheem-ur- day play was a self-check on the 10 indicators of Ease of Doing Rehman Saigol also spoke on the government. He said that Central Business about government’s rules occasion. Former LCCI President Asian States and various other and regulations. He said that doing Mian Anjum Nisar business has become a and Executive most difficult task in the Committee presence of these rules Members were also which must be simplified present. and business friendly. He The Deputy Speaker said that cumbersome said that burden of and anti-business rules debt has reached and regulations always to Rs. 30,000 promote corruption. billions while a He said that duties and huge amount is taxes on raw material required for debt should be reduced as servicing. He said China is selling finished that 2008 to 2018, products less than our than government cost of raw material. He borrowed said that manufacturing Rs.24,000 billions sector is not competitive but situation in at the existing tariff. He all sectors of economy remained markets are being focused for said that same facilities should be discouraging. Pakistani merchandise. given to the local investors which Earlier, the LCCI President Almas are being offered to the foreign He said that after holding the Hyder said that we are listening investors. reigns, Prime Minister sought help to approach IMF 13th time. IMF He said that difference between of Saudi Arabia, China, Turkey and should be the last option as it is filer and non-filer has shrunk the Abudhahbi, to get rid of economic working for just squeezing the market as there is a difference crisis, instead of IMF. He said that developing countries. He said that between taxpayer and filer. He said if IMF help would be unavoidable, when Malaysia, Indonesia and that stakeholders from agriculture than no anti-country condition will Thailand were facing currency sector, tribal area and people be accepted. He said that Prime crisis, Malaysia rejected IMF Lahore Chamber News Chamber Lahore Minister Imran Khan is selfless and prescribes. He questioned that if having a certain salary are not filer. 26 just want to put country on the rails IMF has some good suggestions He said that difference between of economic prosperity. then why don’t we do that filer and non-filer should be He said that local investors deserve ourselves. He said that if borrowing eliminated in coming mini budget. LCCI welcomes restoration of Advance Payment Facility he Lahore Chamber of Commerce Letters of Credit (L/C) up to 100 percent & Industry (LCCI) welcomed of the value of the goods and up to $10,000 restoration of advance payment per invoice for import of all eligible items facility and said that State Bank of without a requirement of L/C or a bank TPakistan deserves appreciation for feeling guarantee from the supplier abroad caused the woes of business community. huge difficulties for the export-oriented In a statement, the LCCI President Almas industry but after restoration of this facility, Hyder said that situation would take a restoration of SMEs generate maxi- positive turn. advanace payment The President said it seems facility up to $ mum employment and that State Bank of Pakistan 10,000 per invoice has withdrawn this facility for import of needs government support, to shrink gap between essential items for the markup for the SME imports and exports but it is exporters without not doing any service to the the requirement sector must be at the low- economy and creating more of Letter of Credit impediments for the exports (LC) or bank est so that this sector could instead of controlling the guarantee to breath and accelerate. trade deficit. He said that suppliers abroad imports are not a matter would give a big Khawaja Shehzad Nasir of concern if exports are relief to the export increased. oriented sectors. Senior Vice President LCCI Senior Vice President He said that this Khawaja Shahzad Nasir business-friendly step of State Bank of and Vice President Fahim-ur-Rehman Pakistan would make easy import of Saigol said that restoration of advance necessary payment facility would help release import items for export oriented sector. He consignment that were pending. said that exporters would now be able to LCCI Senior Vice President Khawaja complete their international orders easily Shahzad Nasir said that high markup rates and cost of doing business will also be hurt the SME Sector. SMEs are the most reduced. important segment of economy, it generates Almas Hyder said said that the SBP vide loads of employment and also needs its F.E. Circular No. 6 of July 14, 2018 government support in order to further has withdrawn the facility extended to enhance the capability of this sector the the authorized dealers to make import markup must be at the lowest so that SME News Chamber Lahore advance payments against irrevocable sector could breath and accelerate. 27 LCCI president wants representation of private sector in policy making resident of the Lahore Chamber Starting new business in Pakistan of Commerce & Industry (LCCI) is a hard task and can be tackled Almas Hyder Wednesday called through one-window operation to for representation of private sector reduce the interference of various Pin policy making to ensure immediate government departments in this treatment to the economic issues. process. In a statement, the LCCI President said that being most important stakeholder, Almas Hyder President LCCI private sector must have representation in policy making teams that will be equally attract huge foreign direct investment, beneficial for the government and private build the confidence of local investors, increase remittances and turn the country sector. into hub of manufacturing and economic He said that business community has a activities”, the LCCI President added. great combination of fertile ideas both for He said that manufacturing activities businesses and economy but these cannot influences the Gross Domestic Product be decoded until and unless private sector strongly (GDP), an increase in which has representation at the supreme forums. Almas Hyder said that government should boosts revenue of the state and generates make necessary legislation in this regard employment opportunities. He said as health of economic indicators is not that Industrial Production Growth Rate good at the moment. He said that health of averaged 5.32 percent from 1990 to 2018. leading economic indicators including Ease He said that government should facilitate of Doing Business, Manufacturing, Stock manufacturing sector and resolve its major Market, Gross Domestic Product, income obstacles like availability of cheap energy & expenditure, unemployment rate, and early refunds etc. to achieve the target Consumer Price Index, Currency Strength, of highest growth rate. availability of energy, debts, balance of Almas Hyder said that startup of new trade and foreign exchange reserves is not business in Pakistan is a hard task and good and needs immediate treatment as this issue should be tackled through these are directly linked to the economic one-window operation to reduce the Lahore Chamber News Chamber Lahore prosperity and also to the foreign investors’ 28 sentiments. interference of various government “If these indicators are healthy, these would departments in this process. LCCI foresees immense development in auto industry, alternative energy sector resident of the Lahore Chamber of par with the developed economies”, Almas Hyder Commerce & Industry (LCCI) Almas said and added that recently SPEL Pakistan has Hyder said that government did well in installed industrial robotic system and gave a the critical state of affairs and presented positive gesture to the foreign investors about the Pa good package of reforms that will definitely potential of Pakistan’s industrial sector. produce investment opportunities in auto industry, “There should be no difference between filers solar equipment manufacturing and other and non-filers as non-filers of returns are not tax potential sectors. evaders. While talking to a group of businessmen, the Discrimination should be between taxpayer and LCCI President said that government has taken non-taxpayer”, the LCCI President said. He added some important initiatives including lifting ban that the constraints faced by non-filers of tax on purchase of vehicles returns are hampering for non-filers for new the overall business locally manufactured cars Government has taken some environment because up till 1300cc capacity important initiatives including such limitations have and exemption to the lifting ban on purchase of vehicles caused troubles for investment in solar panels automotive and some & wind turbines from for non-filers for new locally other sectors. duties and taxation for manufactured cars up till 1300cc Almas Hyder said five years. He said that that exemption to the these measures will bring capacity and exemption to the investment in solar huge local and foreign investment in solar panels & wind panels & wind turbines investment in these turbines from duties and taxation from duties and taxation sectors, will generate job for five years seems opportunities besides for five years. little but indeed a major rising revenue of the Almas Hyder President LCCI announcement with government. great futuristic impacts About auto industry of on the energy sector of Pakistan, the LCCI President said that it was one of Pakistan. He said that Pakistan relies heavily on the fastest growing industries of the country with fossil fuels to meet its energy requirements is one around four per cent contribution to GDP besides of the biggest reasons of energy crisis and rising employing, directly or indirectly, over 3.5 million trade deficit as the country is spending billions people. He said that production of car industry of dollars on import of petroleum products every was shrunken up to 30 per cent because of ban on year. purchase of vehicle for non-filer. Apart from its very high financial cost, Pakistan He said that government has taken a step in right remains at strategic risk because it remains heavily direction by lifting ban on purchase of cars for dependent even for its vital services. He said non-filers for new locally manufactured cars up that all these issues can be tackled by promoting till 1300 cc capacity. It will definitely expand the renewable energy sources that are a very viable volume of auto industry which has the ability to act option to meet energy demands. Government Lahore Chamber News Chamber Lahore as driving force for the national economy. has done well by encouraging manufacturing “Pakistani auto industry is well on the way of of equipment for power generation through 29 technological advancement and will become at alternative sources. LCCI for reviewing human & economic cost of anti-encroachment drive uman and economic while honest tax paying businesses government should also take into factors have been are bearing the brunt of this drive. considration the encroachers at ignored while Almas Hyder demanded that launching anti- compensation should be given End users must not Hencroachment drive, therefore, the to all those businesses which bear the loss alone operation must be reviewed. were built on land where proper but the government In a letter to Chief Minister registries were executed and departments and Punjab Sardar Usman Buzdar, the government taxes were paid. sellers of encroached LCCI President Almas Hyder said He also suggested that the area land also held that existing anti-encroachment outside Ring Road which is acountable. Faheem-Ur-Rehman Saigol drive in Shahalam Market is still vacant may be zoned for Vice President LCCI depriving the workers of their jobs commercial purposes and all and besides loss of the capital of the affectees may be allowed to the traders. purchase land and build their the first place.the government Almas Hyder said that this shops/offices there. This zoning departments, which had approved government has started anti- will reduce pressure within the the encroachements and the encroachment drive which is city and also allow for expansion sellers, builders beside the end always welcome but it is being of economic activities. He said users who are being solemnly done with total disregard to that this zoning should be victimized.He said the end users human and economic cost being announced immediately and the must not bear the loss alone but paid by genuine business. He town planning completed next the government departments and said that before such a step, the three months. sellers of encroached land also government should have planned The LCCI Vice President Faheem- held acountable. and provide alternate site to Ur-Rehman Saigol said that affectees of this drive. He said that the move has also created discontentment among affected traders. Anti- encroachment staff is doing what they want to do and destroying the assets of traders. The LCCI President said that this difficult situation has not arisen in a day. There has been callous disregard of rules and regulations by the subsequent government over the last 10 years whereby unscrupulous elements were allowed to build and sell properties. He said that no Lahore Chamber News Chamber Lahore government official has 30 been taken to the task for allowing such a situation, LCCI for easy property registration mechanism he Lahore Chamber of other hand, he said, New Zealand to shift responsibility for the Commerce & Industry holds first position with just two procedure from an applicant (LCCI) has urged the procedures and a single day for to government. He said that an government to make property registration. independent complaint resolution Tregistration of property easy for The LCCI President said that mechanism, related to issue of the businessmen through modern reliability of infrastructure, land and property registration, technologies and one-window electronic should be developed. He suggested A complete electronic database database for that a schedule for fee should be recording land made for accessing maps of land should be established for plots publicly available. encumbrances (checking of lines, boundaries, transparency Almas Hyder suggested that mortgages, restrictions and the like) tax on land transfer should be of eliminated and one lump sum fee and make it available online. information, should be charged. He said that a Almas Hyder President LCCI geographic local commission should only be coverage, hired in exceptional circumstances land dispute as provided by the law. In person operation. resolution and equal access to attendance should be mandatory. In a statement, the LCCI President property rights are Almas Hyder said that registration some of the areas which of property is a big headache for demand special. the businessmen as it consumes Almas Hyder long time and capital therefore it recommended a should be made business-friendly. complete electronic Almas Hyder said that we have database should to make ease-of-doing-business be established for related indicators better and better encumbrances if we want to secure impressive (checking of lines, place in the international trading mortgages, restrictions arena. He said that at present and the like) and Pakistan ranked 161 in the global make it available index as far as registration of online. He said that property registration is concerned. inter-government He said that businessmen would electronic procedure
have to follow 6 procedures for should be introduced News Chamber Lahore the registration of property which to obtain non-objection 31 take 25.5 days and cost 4.2 per certificate (one cent of the property value. On the government principle) Be positive for sustainable economic growth: LCCI President hallenges always bring highly expensive for private sector the number of taxes by clubbing opportunities and give and discourages investment that and hoped that policy in this economies a chance needs debt financing. regard would be announced in to grow therefore we Almas Hyder said that the coming budget. He suggested Cshould see the things positively Government should rezone urban that the frequency of the tax and government should take centers, demarcate industrial land payments of above proposed labor steps in consultation with the and set up SEZs all over Pakistan tax (EOBI, PESSI, WPPF, WWF stakeholders for economic to boost the manufacturing Clubbed) and Sales Tax (Federal wellbeing. activities. He said that the and Provincial Clubbed) should While reacting over quarterly exemption from the payment of be once a year. The frequency report of State Bank of Pakistan on Sales Tax on imported plant and of the payments of Corporate Wednesday, the LCCI President machinery for Greenfield projects Income Tax should also be once a Almas Hyder said that nothing in the Mini-Budget should also be year. This will bring down the total is impossible in today’s arena as granted to the brownfield projects frequency of tax payments to 6 a a number of countries became for Balancing, Modernization and year. He said that all tax payments economically developed from Replacement of existing units. should be accepted through nowhere. If they can do this then ‘Credit card / debit card, direct why we can’t, he said and added debit or using internet / mobile that all economic targets can be Government must take banking. achieved through strong public steps to reduce the interest He further stated that the services private partnership. rate. The recent hike in sector (Wholesale & retail Almas Hyder said that all the SBP policy rate to trade, Transportation, Storage economic issues can be controlled 10 percent has made & Communication, Finance & if government focuses on some borrowing highly expensive Insurance and Housing) is the major areas. He said that pending main driver of economic growth refunds are causing liquidity for private sector. in Pakistan with a contribution of crunch for the industrial sector. Khawaja Shahzad Nasir 60 percent in the GDP. To enable Government took a good decision Senior Vice President LCCI the services sector to realize its of issuing promissory note for the potential in terms of exports, payment of refunds but its benefit He said that for the hand-holding it should be incentivized and should be extended to all the other of SME sector and enabling it included in the priority sectors sectors in addition to five zero to realize its true potential, the in the “Trade Related Investment rated sectors. Government should announce a Policy Framework 2015-2023” for He said that Regulatory Duties on five year Tax Holiday for the new export oriented investments. all the raw materials lines should SMEs. The LCCI office-bearers said be eliminated to reduce the cost Un-informed Raids on premises that IT sector in Pakistan has of doing business and making of Business Community were remarkable potential as evident manufacturing competitive. spoiling the business atmosphere. by the increasing number of IT The LCCI Senior Vice President Federal Minister for State based startups in Pakistan. To Khawaja Shahzad Nasir and Vice Hammad Azhar has recently enhance the exports of IT sector, President Fahim-ur-Rehman announced to cease the raids but it should also be included in the Saigol said that government needs is to implement the decision priority sectors for export oriented Lahore Chamber News Chamber Lahore should take steps to reduce the in true sense of word. investments. Appropriate and easy 32 interest rate. The recent hike in the The LCCI President welcomed the payment solution also needs to be SBP policy rate to 10% (highest announcement by Federal Finance designed for IT sector. in five years) has made borrowing Minister Asad Umer for reducing LCCI Vice President visits Taiwan, Japan to enhance exports ice President of the Lahore Chamber of Commerce & Industry Faheem-ur-Rehman Saigol visited Taiwan and Japan to discover new Vavenues for Pakistani merchandise. The LCCI Vice President conducted B2B meetings with his counterparts besides visiting the offices of trade and industrial associations. Faheem-ur-Rehman Saigol said that main objective of his visit was to extract huge economic benefits for the country through exploring new opportunities for trade, investment and joint ventures. The LCCI Vice President held a meeting with Mr. M Mujahid in Taiwan and discussed economic opportunities for Pakistani businessmen. Mr. Mujahid is living and working in Taiwan for more than two decades Vice President LCCI Faheem-Ur-Rehman Saigol presenting a souvenir to and works for the promotion of mutual trade Director International Division and Secretary General Osaka Business and between Pakistan and Taiwan. Investment Center Mr Susumu Saito. Deputy Secretary General Ms. Fujita Noriko and Mr Muhammad Mujahid are also present.
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