Tag Archives: Lahore Chamber of Commerce & Industry

LCCI Rejects POL Price Hike & Logic Given For This Initiative

LCCI Rejects POL Price Hike & Logic Given For This Initiative


admin | category: News

LCCI Rejects POL Price Hike & Logic Given For This Initiative. The Lahore Chamber of Commerce & Industry has expressed dismay over negative response regarding POL prices and feared of dire economic consequences of increase in petroleum product prices.

“The Lahore Chamber of Commerce & Industry rejects POL price hike and logic for this initiative given by the Ministry of Finance”, said the LCCI President Malik Tahir Javaid, Senior Vice President Malik Tahir Javaid and Vice President Zeshan Khalil in a statement on Monday.

“Why comparison just for POL prices, why not in all economic sectors? Exports of India, Bangladesh and Turkey have been crossed $ 268.6 billion, $ 34.14 billion and $ 150.2 billion respectively while Pakistan is running with just around $ 21 billions. Industries in those countries are playing freely and enjoying the status of state-partner while Pakistani industrial sector is struggling for survival”, the LCCI office-bearers said.

They said that another logic has been given for POL price hike that oil prices in international market are soaring. They said it is true that oil prices in the international market are rising but it would be better if government cuts duties, taxes levied on petroleum products and reduces huge non-development expenditures.

The LCCI office-bearers said that the Lahore Chamber of Commerce & Industry well before the time asked the government to avoid increase in POL prices as current economical condition does not allow such measures.

They said that industrial sector would be immediate victim of the hike in POL prices as it is one of the major raw materials of the industries. They said that industrial production and movement of raw materials and trading goods would be more costly and reduce the competitiveness of Pakistani goods in the international market and put the government’s initiatives in reverse for boosting exports.

They said that POL price increase will also add to the complexities of the agriculture sector which is already in a bad state-of-affairs because of water scarcity and various. They said that the increase in petroleum prices would increase the input cost of agriculture production as high speed diesel is being used in tractors, tube-wells, harvesters, thrashers and other agriculture machinery. They said that the cost of thermal generation by private sector to go up. The LCCI office-bearers said that Government is producing huge amount of electricity through thermal means and after increase in petroleum prices, prices of electricity would touch new highs.

They urged the government to withdraw recent huge hike in POL prices to avert huge economic losses and to win the trust of trade, industry and masses otherwise anti government sentiments would rise.

You can follow us on Twitter, add us to your circle on Google+ or like our Facebook page to keep yourself updated on all the latest from Technology, Entertainment, Sports, Gadgets, Latest Government Jobs, Cooking Recipes, Health and Beauty, Autos and Vehicles and Much.

FG Felicitates UBG For Thumping Victory

FG Felicitates UBG For Thumping Victory


Shahid | category: Business

FG Felicitates UBG for Thumping Victory. Founders Group of the Lahore Chamber of Commerce & Industry has felicitated the United Business Group (UBG) for securing thumping victory in the election of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) – 2017-18.

In a greeting message to the UBG patron-in-chief S.M. Muneer and Chairman Iftikhar Ali Malik, Founders Group leaders Mian Muhammad Ashraf, Mohsin Raza Bukhari, Sheikh Muhammad Asif, Farook Iftikhar, Khawaja Khawar Rashid, Zeshan Khalil and FG former presidents said that momentous victory of United Business Group is a clear proof of business community’s trust of UBG leadership and remarkable services for the cause of the economy.

They  said that being the largest trade body of the country, role of Federation of Pakistan Chambers of Commerce & Industry has become more crucial as economy is facing a tough time. They said that declining exports, rising trade deficit, miseries of Pakistani rupee and poor international ranking in doing business call for good economic plan from the Federation of Pakistan Chambers of Commerce & Industry.

They hoped that new team of Federation of Pakistan Chambers of Commerce & Industry would best perform to the expectations of the business community and take up their issues at supreme forums. They were also optimistic that under the leadership of the leadership its Patron-in-Chief S.M. Muneer and the Chairman Iftikhar Ali Malik, the UBG would be playing very vital role for unity of the business community and for economic prosperity of the county.

You can follow us on Twitter, add us to your circle on Google+ or like our Facebook page to keep yourself updated on all the latest from Technology, Entertainment, Sports, Gadgets, Latest Government Jobs, Cooking Recipes, Health and Beauty, Autos and Vehicles and Much.

Issue of Regulatory Duty On Imports About to Resolve: LCCI Chief

Issue of Regulatory Duty On Imports About to Resolve: LCCI Chief


Sumera Saeed | category: Business

Issue of Regulatory Duty On Imports About to Resolve: LCCI Chief. The LCCI president Malik Tahir Javaid has said that issue of Regulatory Duty on imports is near to be resolved as high government funcionaries have given assurance in this regard. “I had important meetings with Prime Minister Shahid Khaqan Abbasi, PM Assitant on Revenue Haroon Akhter, Federal Minister for Industries & Production Ghulam Murtaza Khan Jattoi, Chairman NA Standing Committee on Finance, Revenue & Economic Affairs Qaiser Ahmed Sheikh, Chairman FBR & Member Customs FBR Zahid Khokhar and demanded total withdrawl of Regulatory Duty on imports.

Good news is that they had principally agreed to move in favor of business community”, the LCCI president told the delegation of businessmen here at the Lahore Chamber of Commerce & Industry. Malik Tahir Javaid said that the Lahore Chamber of Commerce & Industry is active from the very first day on Regulatory Duty and meeting the people sitting on the helm of affairs and informing them that RD on various essential items including raw materials would harm the economy which already under pressure due to rupee devaluation, heavy borrowing, high trade deficit and poor ranking in ease of doing business.

Malik Tahir Javaid was of the view that the Regulatory Duty regime will not only destroy the exporting sector but will also hit the manufacturing sector hard as a number of raw materials have been subjected to new Regulatory Duty.

He said that new Regulatory Duty regime would be hardly doing any service to the economy. Federal Board of Revenue should totally withdraw the recently imposed Regulatory Duty otherwise its destruction would be beyoned the imaginations. He said that since various imported raw materials are being used in the local industries for manufacturing and exporting of goods therefore Regulatory Duty on these important inputs would add to the miseries of export-oriented industries. Resultantly, he said, exports would be continued to sink.

While sharing his poinv of view with the Parliamentarians, the LCCI president said that business community is already suffering because of undue delay in payment of refunds and high cost of doing business and cannot afford to bear heavy burden of Regulatory Duty that is imposed without keeping in view the ground realities.

The LCCI President said that principally Regulatory Duty is imposed on such products where local industry needs protection. The LCCI understands that protection of local industry is important for any state as it provides employment opportunities and contribute sizeable amount of revenue to national exchequer. But business community fails to understand that why Regulatory Duty is imposed on import of raw materials and other goods which are either not locally manufactured or produced in very small quantity as compared to their imports.

He said that if Regulatory Duty is not withdrawn totally it would also adversely affect the industrial sector. On the other hand it would open flood gate of smuggling and under invoicing that are already causing huge financial loss to the national kitty.

The LCCI president said that positive response from the high officials is a good omen and hopefully Regulatory Duty would be withdrawan totally until and unless genuine reservations of business community are addressed.

You can follow us on Twitter, add us to your circle on Google+ or like our Facebook page to keep yourself updated on all the latest from Technology, Entertainment, Sports, Gadgets, Latest Government Jobs, Cooking Recipes, Health and Beauty, Autos and Vehicles and Much More.

Chief Minister Gilgit-Baltistan Invites Private Sector To Contribute For The Prosperity of Province

Chief Minister Gilgit-Baltistan Invites Private Sector To Contribute For The Prosperity of Province


Shahid | category: Business

Chief Minister Gilgit-Baltistan Invites Private Sector To Contribute For The Prosperity of Province. Chief Minister Gilgit-Baltistan Hafiz Hafeez-ur-Rehman has invited the private sector to join hands with the government of Gilgit-Baltistan and start flight operation for this area.

While talking to the LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Kharar Rashid and Vice President Zeshan Khalil, Chief Minister Gilgit-Baltistan, he said that Gilgit-Baltistan is abundant with huge opportunities in tourism, energy and infrastructure sectors. He said that PIA operation for Gilgit-Baltistan is not enough to cater to the needs therefore private sector should come forward and avail this opportunity. Former LCCI President Mian Shafqat Ali also spoke on the occasion.

He said that China Pakistan Economic Corridor (CPEC) has generated lucrative investment opportunities that must be availed by the local investors. Under this project industrial and economic zones are being established which will create ample employment opportunities for the people of this area.

On the energy sector, CM GB said that Gilgit-Baltistan is not linked with the national grid which is the major hurdle of taping the power generation potential. He said that GIZ and WAPDA have identified the potential of 40,900 MW through feasibility reports. He said that establishment of first grid in Gilgit-Baltistan is at tender stage. He said that no serious work had been done in past for Diamir Bhasha Dam but now situation is quite different. He said that land acquisition for Diamir Bhasha has been completed through transparent way. All record in this regard is available in this regard and a huge amount of Rs. 12 billion is saved through transparency. He said that Diamir Basha, Bujni and Dasu would generate 4500 MW, 7500 MW and 5000 MW of cheap and environment friendly electricity of respectively that would reduce the oil import bill.

CM GB said that Chief Minister Punjab Shahbaz Sharif extended laudable help to the government Gilgit-Baltistan in health and education sector. “People of Gilgit-Baltistan are thankful to the taxpayers of Punjab for helping generously”, he concluded.

While talking about the tourism potential, he said that Gilgit-Baltistan is the most wonderful area of the country and has lot of attractions for the tourists. He said that various measures are being taken to tap the vast potential of tourism in Gilgit-Baltistan and focusing this sector for higher economic gain. He said that number of tourists is increasing that is a good sign. He said that apart from tourism, mining, food preservation, the area has a very huge potential for cement and herbal sectors, therefore, the business community should come forward to explore these opportunities that offer a huge dividend.

The LCCI President Malik Tahir Javaid said that the region of Gilgit-Baltistan has immense importance in geo-economic and geo-strategic terms. Geographically, Gilgit-Baltistan shares borders in the northeast with China, in the extreme north with Wakhan corridor of Afghanistan, in the west with KPK province and in the south and southeast with Azad Kashmir. He said that it is also endowed with vast resources of metallic, non-metallic, energy minerals, precious /dimension stones and different rocks of industrial use. He said that GB is located at the confluence of world great mountain ranges like the Himalaya, Hindukush, Karakoram and Pamir mountain ranges, which are considered the high roof of the world.

The LCCI President said that Gilgit-Baltistan has a bright economic future. CPEC is expected to bring an economic transformation in Gilgit-Baltistan because of infrastructure development, construction and hydropower stations. Some mega development projects have already been started. He said that according to the Government of Pakistan, the province of Gilgit-Baltistan has a hydropower potential of 19,000 MW as the Indus River and its six main tributaries pass through this region. This potential can be harnessed if the Government establishes a regional grid in Gilgit-Baltistan to interlink all the power potential sites. It is due to the absence of the national grid that the NEPRA’s jurisdiction has not been extended to Gilgit-Baltistan.

He said that Gilgit-Baltistan also has tremendous potential in tourism. Beautiful landscape, unique cultural heritage and rich biological diversity give the region a competitive advantage in attracting tourists from all over the world. He strongly recommended the business community of the city to tap the investment opportunities available in Gilgit-Baltistan in the hospitality business. He said owing to its cool, dry climate and availability of water resources, Gilgit-Baltistan has great potential in agriculture. Fruits such as apricots, apples, grapes, pears and pomegranate are widely produced in this region. Dried fruits and nuts are also produced in this region. This region is ideal for growth of temperate fruits and vegetable and has a low insect, disease, and pest population

Malik Tahir Javaid said that the other sectors in which there is a tremendous potential to invest in Gilgit-Baltistan are food and beverages, healthcare, recreation, travel services, skill development, mineral processing units, hydropower IPPs, handicrafts and retail.

He urged the Government of Pakistan to address the constitutional status needs of the Gilgit-Baltistan according to the wishes of the people of Gilgit-Baltistan. They do not have any representation in parliament. It is their demand that they should be declared constitutional citizens of Pakistan and Gilgit-Baltistan be made a full fledge province. The Government should also make sure that the people of Gilgit-Baltistan reap full benefits from CPEC.

The LCCI Senior Vice President Khawaja Khawar Rashid and Vice President Zeshan Khlil called for value addition in precious and semi-precious stone sectors saying that it would give us more foreign exchange. They informed the CM GB that Lahore Chamber of Commerce & Industry is already working on establishment of airline.

You can follow us on Twitter, add us to your circle on Google+ or like our Facebook page to keep yourself updated on all the latest from Technology, Entertainment, Sports, Gadgets, Latest Government Jobs, Cooking Recipes, Health and Beauty, Autos and Vehicles and Much More.

Historic Visit to the LCCI French Parliamentarians to Act as Pakistan’s Ambassadors

Historic Visit to the LCCI French Parliamentarians to Act as Pakistan’s Ambassadors


Shahid | category: Business

Historic Visit to the LCCI French Parliamentarians to Act as Pakistan’s Ambassadors. Back in France, we would be Pakistan’s ambassadors as it has huge untapped economic potential and perfect geographical location.

This was stated y the members of French Parliamentary ddelegation elegation while speaking at the Lahore Chamber of Commerce & Industry. The LCCI President Malik Tahir Javaid presented the address of welcome while Senior Vice President Khawaja Khawar Rashid, Vice President Zeshan Khalil, Members of French Parliamentarian delegation Jean Bernard Sempastous, Mrs. Annaig Le Meur, Jean-Luc Reitzer, Mrs. Sonia Krimi, Alexandre Michel, Mian Ahsan Abbas, Michael Boucault and Philippe FOUET spoke on the occasion while Ali Hassam
Asghar, Awais Seed Piracha, M. Nawaz, Moazzam Rasheed, Kalim Ahmed,
Tehmina Saeed Chaudhry and Mian Zahid Javed were also present on the
occasion.
The Parliamentarian said that French government values high its relations with Pakistan and keen to further strengthening its economic relations with Pakistan that is an important country of the region. They stressed the need for close contacts between the businessmen through use of modern technology like video  conferencing in order to develop deep and lasting linkages and networks for sharing each other’s experiences for strengthening of economic relations. They said that they would play their role for increasing bilateral trade between the two
countries.
The French Parliamentarians highly spoke about Pakistan and said that investment opportunities in Pakistan are of great attraction for foreign businessmen. They said that they would tell their businessmen about the sectors that could create win-win situation. The LCCI President Malik Tahir Javaid appreciated the initiative taken by the leadership of the France Pakistan Friendship Group for visiting Pakistan to promote trade & investment relations between two countries.

He said that France is Western Europe's largest country by area. Including overseas regions, it ranks 41st in the world in size. By economic measurements, France is among the
world's most successful countries. Being Europe's third largest economy, its
nominal GDP ranked seventh largest in the world at more than $2.4 trillion in total
output.
The LCCI President said that France is well known around the world for its colours, designs, festivals, fashion, foods and monuments etc. France is rightly considered the birth place of modern democracy. The revolutionary ideals of 1789 i.e. Liberty, Equality and Fraternity were impressive and contributed to a great deal in attaining ultimate triumph. That victory owes much to the French men and women who have defended freedom and democracy.

“I am sure that you being French Parliamentarians and members of France Pakistan Friendship Group would be noticing certain changes in political scenario  of Pakistan particularly taking place in the last decade. Unlike past, the democratic setup of Pakistan faced highs and lows in a sensible way. Pakistan is all set to gain further political stability in years to come. We hope that we will soon start reaping the fruits of attaining political maturity”, Malik Tahir Javaid
added.
While sharing trade figures, he said that in 2015, the total volume of bilateral trade was dollar 778 million which surged to dollar 817 million in 2016. The main reason of that increase was consistent rise both in imports and exports to France. He said that from 2015 to 2016, the exports to France registered an increase of 3.3% whereas the imports from France went up by 6.5%. This trend needs to be continued. In the present scenario of bilateral trade, the balance of
trade should be in favor of Pakistan and its products should have easy access to the markets of France. Your support is desperately needed in this connection.
The LCCI President said that in terms of tourism, Pakistan is a beautiful and historical country and you will be amused by its scenic beauty. We are peace loving nation and desirous of maintaining peace in the whole region. There is no such situation in Pakistan which is mostly portrayed by international media. He urged the French Parliamentary delegation to share actual perception about Pakistan.

You can follow us on Twitter, add us to your circle on Google+ or like our Facebook page to keep yourself updated on all the latest from Technology, Entertainment, Sports, Gadgets, Latest Government Jobs, Cooking Recipes, Health and Beauty, Autos and Vehicles and Much More.

Pakistan Coating Show 2017 Overwhelming response from the Coating industry

Pakistan Coating Show 2017 Overwhelming response from the Coating industry


Sumera Saeed | category: News

Pakistan Coating Show 2017 Overwhelming response from the Coating industry

The annual Pakistan Coating Show 2017 has opened in Lahore for the 3rd time, again attracting an irresistible reaction from the Coating, Paints and Chemicals industry professionals. This event forms an inventive B2B platform, thoroughly organized every year, by the ‘Pakistan Coating Show’ and ‘B2B Media’. The show will continue at the Expo Center in Lahore, from the 19th to 21st January, to display the latest products and foster new technologies for the industry.

Moazzam Rasheed Chairman B2B Media stated that Pakistan coating Show 2017 catches the attention of international and local manufacturers, distributors, suppliers, and dealers, for sharing their thoughts and form stronger corporate associations. It offers enormous opportunities for B2B networking, association and media-exposure for the stakeholders, providing a huge boost to the national economy. Students and young entrepreneurs, who aim to develop their careers in the related industry, can seek the precious understanding of the industry which is accessible by this insightful medium.

Pakistan Coating Show 2017 Overwhelming response from the Coating industry

Brighto Paints Pvt. Ltd. is yet again, the principal sponsor of this year’s exhibition, along with several prestigious local and multinational industries patronizing the show. The co-sponsors include; Power Chemicals Industries Ltd, and Rainbow General Trading Co. LLC. The revolutionary 3-day event displays more than 255 stalls and attracts more than 10,000 visitors, providing them undeviating access to national and international customers. PCS is further enriched by an insightful conference, which features the most notorious experts and scholarly speaker’s thorough analyses of the embryonic trends in the industry.

The Chief Guest of the grand opening ceremony was Mr. Abdul Basit – the President of Lahore Chamber of Commerce & Industry (LCCI). He stated that;

“The overwhelming response given by the entrepreneurs and professionals of the coating industry is not only delightful to see but it also ensures the accomplishment of this revolutionary annual event. As the President of LCCI, I would like to extend my sincerest congratulations and admiration to the Pakistan Coating Show, for scrupulously organizing such an energetic show and facilitating national progress simultaneously.”

 

Pakistan Coating Show 2017 Overwhelming response from the Coating industry

PCS has a team of experienced professionals, affianced in promoting an extensive variety of raw materials, for the coating industry, for over three decades now.

You can follow us on Twitter, add us to your circle on Google+ or like our Facebook page to keep yourself updated on all the latest from Technology, Entertainment, Sports, Gadgets, Latest Jobs, Health and Beauty, Autos and Vehicles and Much More.