Tag Archives: Islamabad Chamber of Commerce and Industry

ICCI Shows Concerns Over Falling Value of Rupees Against Dollar

ICCI Shows Concerns Over Falling Value of Rupees Against Dollar


admin | January 9, 2018 | category: Banking

ICCI shows concerns over falling value of rupees against dollar. The Islamabad Chamber of Commerce and Industry has shown concerns over the falling value of rupees against dollar as rupees has hit an all-time high of 113 against dollar in the open market.

It called upon the government to take urgent measures to bring stability in the value of domestic currency as the continuous fall in the value of rupee would bring imported inflation in the country and curtail domestic demand leading to further slowdown in the economic growth of the country.

Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry said that after hectic efforts of the government, Pakistan’s economy was marching towards stabilization. However, he said that the falling value of rupee would push the economy from low inflation and high growth to high inflation and low growth period that would not be in the best interest of the country. He said the slowdown in the economic growth and curtailed domestic demand would adversely affect employment generation and give rise to a new wave of price hike in the country.

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Chinese Automakers Interested To Set Up Manufacturing Plants In Pakistan

Chinese Automakers Interested To Set Up Manufacturing Plants In Pakistan


Sumera Saeed | December 23, 2017 | category: Autos and Vehicles

Chinese Automakers Interested To Set Up Manufacturing Plants In Pakistan. A delegation of Chinese manufacturers and assemblers of automobiles including heavy duty trucks, engines, auto parts and tyres visited Islamabad Chamber of Commerce and Industry and showed interest to set up auto manufacturing plants in Pakistan.

The delegation was representing about 500 auto companies of China including Jinan Zhongzhan International Trade Col. Ltd, Jinan Bonaite Trading Co. Ltd, Hebei Xinjiu Heavy Duty Machinery Makes Co. Ltd., Sinotruk, Shanghai Cheezmail E-Commerce Co Ltd., and others.

The delegation members said that they were representing 500 automobile companies of China that were producing EU standard vehicles and were interested to explore business opportunities for vehicles, engines and auto parts in Pakistan as it was a potential market for automobile sector.
They said initially they were interested in finding local partners for supply of automobiles and auto parts in Pakistan and on successful operation of business, they would try to set up auto manufacturing plants and bonded warehouses through joint ventures and investment in Pakistan.

The delegation members said they also wanted to share their technical know-how and expertise with Pakistani manpower in this field.
They also agreed to organize a seminar at ICCI to create awareness in the local business community about their auto products and prospects of business collaborations with them.

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ICCI for Focusing on Empowerment of Women to Achieve Sustainable Economic Growth

ICCI for Focusing on Empowerment of Women to Achieve Sustainable Economic Growth


Ram zi | December 13, 2017 | category: Business

ICCI for Focusing on Empowerment of Women to Achieve Sustainable Economic Growth. Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry (ICCI) said that women were over half of Pakistan’s total population and government should make policies to focus on women economic empowerment in order to achieve sustainable economic growth of the country.

He was addressing a 25-member delegation of women that visited ICCI led by Ms. Sadaf Raza, Director, Ideas for Life Trust (IFLT). The women were representing various fields including entrepreneurs, lawyers, teachers and counselors and were being trained as leaders and entrepreneurs at IFLT.
Sheikh Amir Waheed said that advanced countries have achieved rapid economic growth by focusing on women empowerment and stressed that government should make policies to bring women in the mainstream of economy so that they could play more effective role in the national development of our country.

He apprised the delegation about the initiatives of ICCI focused on the promotion of women entrepreneurs. He said ICCI has established a Women Growth Center to provide guidance and facilitation to aspiring women entrepreneurs in business startups. Muhammad Naveed Senior Vice President and Nisar Mirza Vice President, ICCI said that women have a promising career in entrepreneurship as by starting their own businesses, they could not only achieve economic independence, they could also create jobs for others.

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Govt To Introduce Rent Before Elections

Govt To Introduce Rent Before Elections


Ram zi | December 11, 2017 | category: News

Govt To Introduce Rent Before Elections. Federal Minister for Commerce ,Muhammad Pervaiz Malik has said that the government would pass the amended bill of rent control act for Islamabad into the law during its current tenure.
He said this while addressing the business community at a function organized by Capital Traders Wing of PML(N).
He said that government was fully cognizant of the problems being faced by the local traders due to absence of rent control law and assured that the parliament would soon pass its draft bill into law to promulgate a balanced rent control law in Islamabad to resolve this long standing issue of the traders of federal capital.

Pervaiz Malik assured that FBR related issues of business community would also be addressed to facilitate the growth of business activities. He acknowledged that the country’s exports have witnessed some decline, but reaffirmed that government was working on many initiatives to turn around the falling exports and further enhance them.
Mian Abdul Manan, MNA said that he has discussed the issue of rent control act with Barrister Zafarullah Khan, Special Assistant to the Prime Minister on Law and he has assured to present its bill in the next session of the National Assembly. He hoped that the bill would soon be passed into law that would help in redress of problems of traders and facilitate growth of business activities.
Speaking at the occasion, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry said that with the consultation of all stakeholders, an amended bill of rent control act for Islamabad was prepared that was presented long time ago by Mian Abdul Manan in the National Assembly. However, delay in its enactment was creating frustrations in the trading community as they were feeling insecure due to absence of rent law. He stressed that government should pass the bill into law without wasting further time so that traders could do business with a sense of security and peace.
He said Pakistan’s exports have come down from 24 billion dollars to 20 billion dollars while the exports of regional countries including Bangladesh, Vietnam and India were going up and stressed that the government should address the key issues of exporters on priority to facilitate the revival of dwindling exports.
Muhammad Naveed Senior Vice President ICCI, Sheikh Jamshed President, Capital Traders Wing of PML(N) and others also spoke at the occasion.

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