DNA

CHAKWAL: Known Businessman and Industrialist Waqar Zafar Bakhtawri has taken oath as President Chakwal Chamber of Commerce and Industry (CCCI) for the year 2022-23.

The newly elected President of Chakwal Chamber of Commerce and Industry ,while addressing his Oath-taking ceremony said that as the President of Chakwal Chamber of Commerce, he will fulfill his vision to make Chakwal Chamber of Commerce one of the most advanced industrial hubs in the world. He said that commercial and economic development is not possible without being connected to the modern global supply chain, therefore, according to his vision, he will make the business community of Chakwal an major players in the global market by connecting the business community of Chakwal to the global supply chain, keeping in view the modern industrial and commercial principles.

Meanwhile high commissioners and ambassadors including Mr. Khazar Farhadov,Ambassador of Azerbaijan, Mr.Mohamed Karmoune, Ambassador of the Kingdom of Morocco and the Dean of Africa, Mr. Abioye Mohammed Bello,the high commissioner   of NIGERIA,Mr.  Yerzhan Kistafin the ambassador of Kazakhstan,Mr. Jemal Beker Abdula, Ambassador of Ethipoia, Mr. Tapas Adhikari Ambassador of Nepal, Ms Mary Nyambura Kamal high commissioner of Kenya ,Muhammad Zeeshan Hanif , Deputy Commissioner Chakwal and Business leaders from Federation Pakistan Chambers of Commerce and Industry and all major chamber participated in the Oath- taking ceremony of President CCCI here.

On the occasion President CCCI said Chakwal Chamber of Commerce and Industry is playing an important role in the development of trade and industrial activities in the region, besides promoting exports.

In this modern world better institutions, trade and investment are the key ingredients for any nation to become prosperous, he said.

Waqar Zafar said the promotion of business, trade and investment in the country will ultimately ensure political and economic stability.

He said that it is vital for Pakistan to maintain and enhance cordial relations with the international world.

The purpose of today’s gathering is in this regard to make better cooperation between our business community members and the diplomatic community, he said.

President CCCI said that currently, Pakistan is having an economic crisis however, we all know that businesses are facing unprecedented challenges and there is a dire need to enhance our relations with various countries.

He said that many areas that need to be addressed through development activities designed to ensure a prosperous economy.

The business and industrial sectors are the backbone of the country’s economy. He said that the country grows when the industry grows, consequently, the government should take every step possible to promote business and industry by setting up new industrial estates and economic zones in chakwal for the promotion of exports and industrialization.

Waqar Zafar said the creation of new industrial estates and economic zones Overseas Businessmen will get more businesses investment, more job opportunities will be created in Chakwal.

He said that Chakwal has immense potential for tourism as it has Katas Raj Temples , Kalar Kahar and Number of beautiful lakes and small dams. There are unlimited tourism opportunities which need to be developed.

The Chakwal Chamber of Commerce and Industry will cooperate with other chambers in preparation of proposals for taxation matters, budgetary recommendations and other national policies Chakwal chambers will also evolve a unified strategy on the issues of traders, which will help to run their businesses in a smooth manner, he added.

Chakwal chamber of commerce under construction building will play a significant role in the industrial and commercial  development of the city.As a president of Chakwal CCCI will accelerate  the construction and completion process and fulfill the expectations of the business community of chakwal.

He said that it is great honor for me to speak on this august occasion organized by Chakwal Chamber of commerce and industry where ambassadors, high commissioners, and inspiring business leaders are present.”I would like to especially thanked to the high commissioners and ambassador who especially drive long to attend this Special Event and I thanked them all on behalf of family.

He also paid tribuate to the business community of chakwal specially Qazi Muhammad  Akber , khawaj Arif ,khurram Kamran and shahzad Sadaat for showing their confidence on me and  electing me as President of Chakwal CCCI.

On this occasion, former President Islamabad Chamber of Commerce and Industry Zafar Bakhtavari said that Chakwal Chamber of Commerce can play a fundamental role in the country’s economic development. He said that today there are diplomats from different regions of the world, including diplomats from Africa, Central Asia and South Asia, who will ensure that they communicate with the Chakwal Chamber of Commerce in their regional markets. will play an important role. He said that high commissioners and ambassadors of friendly countries including Azerbaijan, Morocco, Nigeria, Ethiopia, Kazakhstan, Kenya, Nepal are present here and we are deeply grateful to them.

Meanwhile, Vice President Federation Chamber of Commerce and Industry Qazi M. Akbar said that Chakwal Chamber of Commerce has great potential in terms of trade and industry.

He said that there is a dire need for an industrial estate here and there are immense opportunities for tourism here.

He said that Chakwal Chamber of Commerce has delivered 30 million rupees in the form of aid to the affected areas during the current flood situation in the country.

Meanwhile, Ambassador and High Commissioners of Azerbaijan, Morocco, Nigeria, Ethiopia, Kazakhstan, Nepal expressed their opinion and said that they will take concrete steps to connect Chakwal Chamber of Commerce and Industry with their domestic markets.

They said that Chakwal has immense potential for trade and expansion, which he will play his best role to improve.

ISLAMABAD, SEP 30 /DNA/ – The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP) warned of industry’s closure in the wake of restraints on import of industry raw material under customs tariff chapter 84 and 86, as these restrictions have not been lifted yet despite the country has received loan tranche from the IMF.

FPCCI former president and BMP Chairman Mian Anjum Nisar observed that the business community was expecting that the imports restrictions would be relaxed as soon as the country receives first installment of the IMF loan but it is unfortunate that the situation has not changed so for mainly due to mismanagement of the authorities.

He stated that the import restrictions under Customs tariff chapter 84, 86 continued to haunt the trade and industry, leading to severe shortage of industry raw material, as the authorities concerned have not been fulfilling their promises in spite of several reminders and meetings.

If import of industrial raw material, parts and machinery is halted, the industry would stop running gradually, leading to inordinate delay in export orders and damaging the reputation of Pakistan, as some of the sectors have already slashed their productions because they are in a difficult situation in the face of growing currency crisis.

It is to be noted that the State Bank Foreign Exchange Department (FEOD) had made customs tariff chapter 84, 85 import payments conditional on its approval. The commercial banks, after this State Bank’s condition, are not making dollars available to the importers. After the circular issued by the FEOD on July 5, the import of every kind of plant and machinery, capital goods and raw material has stopped. As a result hundreds of consignments are stuck at different ports and almost same number of consignments is on their way.

Moreover, hundreds of consignments remained stuck at the port after government had slapped a ban on the import of luxury items. The importers have to pay now heavy demurrage to the shipping companies, as the government did not fulfill its commitment of waiving off demurrage and detention charges.

Mian Anjum Nisar said that the industry needs a supply chain to run the whole economy, adding big industries require raw material all the time. The State Bank’s decision severely affected almost all industries negatively. The most concerned are those industries whose consignments have reached at the port and are being asked by the suppliers to pay the bill but the State Bank is still creating hurdles. Though importers have the money but are unable to send the amount to them. Those who import goods under Cash Against Document (CAD) are of the view their clients are getting angry with them as they are not able to make payment timely.

Moreover, he also appealed to the government to immediately give directions to the finance ministry as well as the central bank to play its due role of keeping the check on banking sector and stop exploitation of the trade and industry by charging exchange rate unfairly. He also lashed out at the government over the volatile exchange rate, despite arrival of IMF loan tranche, fearing it will stoke up inflation and halt economic growth by hurting all important sectors.

He also urged the government to appeal the International Monetary Fund to ease its harsh program conditions that require the country to further increase electricity prices and taxes on fuel over the next six months in return for the remaining loan of nearly $3 billion.

He urged the IMF to provide upfront the remaining loan of $3 billion and allow a pause in the increase in electricity prices and petroleum levy for four months. He said that the purpose of seeking the moratorium on the implementation of these conditions is to ease the inflationary pressures that are hurting the trade and industry. He said that under the agreement, Pakistan is required to increase the petroleum levy to Rs50 per litre on all petroleum products. At present, it is charging a levy of Rs37.50 per litre, which means that the tax has to be increased by Rs13.50 per litre amid already high prices. Similarly, the petroleum levy on high-speed diesel is currently Rs7.58 per litre, which has to be increased by another Rs42.42 gradually till March next year.

Pakistan owes $9.7 billion to the Paris Club, including $8 billion to five countries – Japan, Germany, France, the United States and South Korea. Out of this, $1.1 billion is maturing this year.

ISLAMABAD, SEP 30 /DNA/ – Prominent businesswoman Rizwana Asif has been elected unopposed as President of the Islamabad Women’s Chamber of Commerce and Industry (IWCCI).

The annual general meeting of IWCCI was held after which the election results were announced in which Rizwana Asif was elected as President while Sonia Saleem was elected as SVP and Sehrish Ahsan was elected as VP.

Federal Ombudsperson for Protection against Harassment of Women at the Workplaces Kashmala Tariq and MNA Sajida Zulfiqar were present as chief guests. They took oath from newly-elected office bearers and assured all help to the women entrepreneurs so that they can do their business with peace of mind.

Later in her speech, Rizwana Asif said that she is grateful for the trust of businesswomen and she will try her best to fulfil the trust by serving women without discrimination and in every possible way.

She said that she will use all her energies and full cooperation will be provided to all the partners.

Rizwana Asif said that IWCCI has now emerged as a strong organization serving women and upholding the tradition and it will continue to play its role in the development and solving the problems of all business women.

She said that she will make tireless efforts to give women a rightful place in the society as economic development of women is a great goal for which all efforts should be made.

She also paid rich tributes to the services of the outgoing President Naima Ansari and said that she not only served the women but also played an active role in highlighting the issue of women at every forum.

Founder President of Islamabad Women’s Chamber, Samina Fazil, Sonia Saleem and Sahrish Ahsan said in their address that women’s businesses were destroyed due to the Coronavirus, but they could not get cheap loans or any other help.

They said that floods have affected crores of women whose rehabilitation should be given top priority as the calamity has badly hit the poor population in the affected areas and its consequences are drastically impacting the women who are already at a low ebb.

According to United Nations Development Programme, women and children are 14 times more likely than men to bear the brunt of fatalities as a result of natural calamities, they informed.

Deep-rooted gender inequality, exacerbated by poverty and illiteracy, is making life more miserable for women after the catastrophe caused by floods which should be properly noticed by authorities, they demanded.