Belarusian companies visit ICCI to explore development of business cooperation - Fnni.org

Belarusian companies visit ICCI to explore development of business cooperation - Fnni.org

Islamabad (FNNI) A delegation of Belarusian big companies led by Mr. Vladimir Ulakhovich, Chairman, Belarusian Chamber of Commerce and Industry visited Islamabad Chamber of Commerce and Industry to explore development of business and economic cooperation with Pakistan More »

Google’s DeepMind Is Improving Its Human Speech Abilities

Google’s DeepMind Is Improving Its Human Speech Abilities

With the growing use of virtual personal assistants such as Google assistant, Apple’s Siri, Microsoft’s Cortana and Amazon’s Alexa, AI speech itself as well as the language it uses is becoming more and more important. Currently, More »

Nats’ Stephen Strasburg Relieved by Elbow Diagnosis

Nats’ Stephen Strasburg Relieved by Elbow Diagnosis

WASHINGTON — He isn’t out of the woods yet, but Washington Nationals ace Stephen Strasburg is already breathing a sigh of relief after arm troubles knocked him out of his first start back from injury. More »

CM FELICITATES PAKISTANI CRICKET TEAM-Fnni.org

CM FELICITATES PAKISTANI CRICKET TEAM-Fnni.org

LAHORE ( FNNI ) CM Punjab M. Shehbaz Sharif has felicitated Pakistani cricket team on winning the second one-day match and the series against West Indies. In a message of felicitation, the CM said that Babar Azam played an important role in the victory in the second one-day match and deserve credit for his second consecutive century. More »

Turkish delegation visits ICCI to explore business collaborations- Fnni.org

Turkish delegation visits ICCI to explore business collaborations- Fnni.org

Islamabad (FNNI ) A delegation of MUSIAD visited Islamabad Chamber of Commerce and Industry led by Vice Chairman for Fair, Forum and Organization Commission Omur Yildiz and discussed possibilities for further enhancing business collaborations between the private sectors of Turkey and Pakistan. More »

 

Category Archives: Pak CCI

3-day “Islamabad Handicrafts and Women Entrepreneurs’ Exhibition” commences tomorrow at FCCI – Fnni.org

Islamabad(   ) 3-day “Islamabad Handicrafts and Women Entrepreneurs’ Exhibition” commences tomorrow (Friday, Jan 20) at Islamabad Chamber of Commerce and Industry, Sector G-8/1, Islamabad and will continue up to Sunday, Jan 22, 2017. The exhibition will start daily at11:00 am and will continue up to 10:00 pm. This exhibition is being organized in collaboration with the Handicrafts Association of Pakistan.

Mr. Muhammad Zubair, State Minister for Privatization would be the Chief Guest and Sheikh Anser Aziz would be Guest of Honor on the opening day of the exhibition. The diplomats of various countries and other dignitaries will also visit the exhibition.

Islamabad Chamber of Commerce and Industry has organized this event to provide women entrepreneurs a good platform for promoting their business.

The stalls of many products including gems & jewelry, woolen shawls, ladies and gents’ dresses, handicrafts, toys, food supplements, beauty parlor, Kashmiri handicrafts & shawls, and kitchenware have been put up in the exhibition. Food courts, musical performances, entertainment facilities for children and gifts are the other key features of the event. Ladies and citizens have shown great enthusiasm to the event and waited impatiently for its opening.

Expressing his views about the exhibition, Khalid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry has said that women are half of our population and they have great potential to excel in every field. However, due to lack of opportunities for women, the country could not exploit as yet their potential for its economic development. He said ICCI is focusing on economic empowerment of women by encouraging them towards entrepreneurship and organizing this 3-day exhibition is another positive step in that direction. He hoped that this event would help women entrepreneurs to improve their business prospects. He said citizens should take an active part in the exhibition to purchase the products of their interest.

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Government is fully aware of the importance of trade and industry as it plays key role in earning precious foreign exchange for the country: Sheikh Alauddin – Fnni.org

FAISALABAD (FNNI) Government is fully aware of the importance of trade and industry as it plays key role in earning precious foreign exchange for the country, said Sheikh Alauddin Provincial Minister for Industry, Commerce and Investment.

(FAISALABAD, President Faisalabad Chamber of Commerce and Industry Engineer Muhammad Saeed Sheikh is presenting FCCI shield to Provincial Minister Sheikh Alauddin during his visit to FCCI)

Addressing the business community in Faisalabad Chamber of Commerce and Industry (FCCI) here today, he expressed concern over the increasing trade deficit and said that it is not only detrimental to the economy but is also hazardous for our sovereignty.

Lauding the role of FCCI members in earning precious foreign exchange, he said that they are doing a great service to the nation and country. He also prayed that May God give guidance to the elements who were involved in the illegal flight of foreign exchange.

Underlining the importance of trade and industry in overall national economy, he said that government is doing its best to resolve the problems confronted by the trade and industry as through it we could earn much needed foreign exchange in addition to creating new job opportunities for our growing population.

Responding to various problems, he requested the industrialists to identify their core issues along with their immediate solutions so that government could resolve the same without any unnecessary delay.

Commenting on the demands of declaring industrial clusters as notified industrial areas, he said that this demand is very genuine and he will take it up this issue at provincial level so that necessary development projects could also be launched in these areas under his ministry. Commenting on the problems of environment and PRA, he requested the business community to specifically identify their issues in black and white for their immediate solution.

Regarding sick industrial units, he also assured full support and said that he will take Chief Minister into confidence over this issue in addition to talking to Governor State Bank of Pakistan for a workable bale out package for these sick industrial units.

Earlier, in his address of welcome, President Faisalabad Chamber of Commerce and Industry Engineer Muhammad Saeed Sheikh said that FCCI is representing the entire business community of Faisalabad. He said that Karachi is reported as number one in revenue generation but if the revenue paid by entities based in Faisalabad with its head office in Karachi is accounted in the heads of various provinces and cities then Faisalabad will certainly become number one in revenue generation. He said that despite of economic slowdown the Faisalabad was also contributing 38 percent share in employment generation.

He thanked the government and Pakistan Army for improvement in overall law and order situation in the country and said that Prime Minister Nawaz Sharif also deserves appreciation for uninterrupted power supply to the industrial sector. He said that the expected GDP of 5.5 percent is easily achievable if the remaining issues confronted by trade and business community are resolved without any further delay.

Engineer Muhammad Saeed Sheikh also demanded declaration of five industrial clusters into notified industrial areas. He said that government should also take necessary measures for the revival of the sick industry. He also pointed out problems relating to environment and PRA.

Later, a question answer session was also held in which former president FCCI Chaudhary Muhammad Nawaz, Syed Zia Alamdar Hussain, Haji Sanaullah Niazi, Haji Talib Hussain and Shahid Bajwa raised interesting questions.

SVP Rana Sikandar Azam offered vote of thanks while President Engineer Muhammad Saeed Sheikh presented FCCI shield to Sheikh Alauddin. Similarly, VP Engineer Ahmad Hassan also gave away a memento to the provincial secretary Mujtaba Paracha.

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KPK is blessed with huge and untapped reserves of hydrocarbon: Nouman Akbar – Fnni.org

FAISALABAD (FNNI) Pakistan is producing only 96,000 barrel oil despite its daily demand of 400000 barrel. On the other hand, the Khyber Pakhtunkhwa (KPK) has reserves of 16 trillion cubic foot natural gas and 1.1 billion barrel of oil, disclosed Nouman Akbar DGH-HR Corporate Affairs, marketing and QHSE, Khyber Pakhtunkhwa Oil and Gas Company Limited (KPOGCL).

He was addressing the members of Faisalabad Chamber of Commerce and Industry (FCCI) here today. He said that KPK is blessed with huge and untapped reserves of hydrocarbon. He told that KPK is catering to the 57% needs of Pakistan’s crude oil production. Similarly, it is contributing 15% towards Pakistan’s demand for natural gas in addition to 25% of our domestic LPG production. He said that the KPOGCL has been created a company to expedite work to explore the untapped resources of oil and gas in order to make Pakistan self-reliant in energy needs. He told that a systematic methodology has been adopted with a focus on security, policy and regulation and formation of this company. He said that 5 blocks have been allocated to this company out of which exploration work on the lucky block was already in full swing. He said that the geologically Potohar region is rich in hydrocarbon reserves and in many cases gas is oozing out from the soil. Similarly in case of shallow digging for oil also lead to the discoveries of oil reserves. He told that at least 26 spots have been identified where gas and oil reserves are present in abundance and efforts should be expedited in collaboration with private sector to tap these resources.

He told that at least 110 million dollars are required from the private sector for the development of these 5 blocks. This amount could be made available in the form of shares of 1 lac dollar each, he added. Responding to a question, he said that the small investors could also purchase collectively a share of 1 lac dollars.

He told that the geological mapping of this province has been completed while technical testing laboratory is being set up in Peshawar to conduct the analysis of soil data collected from various sites. He told that earlier the soil samples were sent to the laboratory of other countries that charged their fee in dollars but now these tests could be conducted within the country with a nominal fee.

He said that plans are also on the anvil to set up a most modern refinery to process the crude oil. This refinery is expected to become operational within a period of 4 years. He told that it will be enough to fully cater to the entire domestic needs of Pakistan.

Responding to yet another question about the safety of investment, he said that a separate fund management company could also be created to resolve the financial issues. He told that the exploration work is at a slow pace at present due to the lethargic process of licensing and taxation etc.

He said that it is one of the most discouraging factors and all the four provinces after 18thamendment should make a collective representation to the federal government to abolish the tax at the initial stage of geological surveys and drilling etc. However, after the successful discoveries of oil or gas reserves, the federal government could impose a reasonable tax on it. He further told that as Faisalabad is an export city. Its businessman and industrialists have close working relations with the foreign investors and hence government to government collaboration is also possible in this project.

Earlier in his address of welcome president FCCI Engineer Muhammad Saeed Sheikh told that Faisalabad is one the premier chamber of Pakistan. It has 5000 members within its folds. He said that it is working for the last 42 years to serve the business community and to resolve their issues at the appropriate forums.

Commenting on the energy-related issues, he said that Punjab is depended on the electricity, gas, and oil produced by other provinces. He told that Punjab produces only 5 % of gas while it consumes 49% of the total gas produced in the country.

He told that government of Pakistan is importing RLNG from Qatar while mega projects of TAPI and Pakistan-Iran gas pipelines are also under implementation. However, we have to spend huge foreign exchange on the import of oil and gas. He said that the best option for a Pakistan is to invest on local resources of oil and gas. He further told that despite the completion of imported gas projects, there will be still a shortfall of 20 to 30 % of gas. Hence the investment in these projects is most feasible and profitable.

Mr. Rouhail Assistant Manager Corporate affair KPOGCL also addressed the function and presented a documentary on investment opportunities in the field of oil and gas in KPK.

Former president FCCI Mian Javaid Iqbal and M. Ishaq Sheikh took part in the question-answer session while SVP Rana Sikandar Azam offered a vote of thanks.

Later Mian Javaid Iqbal along with president FCCI Engineer Muhammad Saeed Sheikh presented a memento to Mr. Nouman.

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ICCI hails PM’s package for exporters,calls for similar concessions for overall industry – Fnni.org

Islamabad (FNNI) The Islamabad Chamber of Commerce and Industry has hailed the Prime Minister’s Rs.180 incentive package for exporters and termed it a positive development as it will help in improving the competitiveness of exportable products and boosting the country’s dwindling exports. The Chamber also stressed upon the government to announce similar concessions on import for the overall industry to revive and accelerate industrial activities in the country. Under the package, sales tax, customs duty on import of textile machinery and cotton have been abolished.

Headquarteres_of_the_Islamabad_Chamber_of_Commerce_&_Industry

Khalid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry said that Pakistan’s exports have been on a declining trend for the last more than three years as they have come down from $25.1 billion in 2012-13 to $20.8 billion in 2015-16 showing a reduction of more than 17 percent. This happened despite the grant of GSP Plus facility to Pakistan by the European Union.

He said, unlike Pakistan which experienced monthly declines in export values almost continuously since December 2013, exports from India, Bangladesh, Taiwan and Vietnam have rebounded in the past few months which showed that many internal factors caused to fall in exports. He said Pakistan’s market share of global exports has also declined from 0.16 percent in 1990 to 0.13 percent. He said according to World Bank Report 2015, Pakistan was the second lowest country in South Asia after Afghanistan in terms of exports of goods and services as percentage of GDP as its exports share in GDP was just 10.6% compared to China’s 22.1%, Sri Lanka’s 20.5%, India’s 9.9% and Bangladesh’s 17.3%.  This situation required urgent remedial measures on the part of the government to arrest this discouraging trend.

Khalid Iqbal Malik said it was encouraging that government has reduced power tariff for the industries from Rs.15-16 per unit to Rs.11 per unit, but it was still insufficient and needed further reduction to bring down the high cost of doing business in the country. He said due to CPEC project, local industry badly needed to upgrade its machinery and technology to compete effectively, but almost 28% cumulative duty on the import of industrial machinery including steel and other industries was a major hurdle in these efforts. He stressed upon the government to make a drastic cut in import duty in the forthcoming budget for industrial machinery that would greatly help in producing high value-added products and improving country’s exports.

FPCCI to strive hard for resolving key issues of business community: Iftikhar Ali Malik – Fnni.org

Islamabad (FNNI) Islamabad Chamber of Commerce and Industry organized a ceremony in honor of Zubair Tufail, newly elected President of Federation of Pakistan Chambers of Commerce and Industry. S.M. Munir, Chief Executive, Trade Development Authority of Pakistan and Patron-in-Chief of United Business Group and Iftikhar Ali Malik, Chairman UBG and Vice President, Saarc Chamber of Commerce and Industry were also invited for the occasion.

Addressing the ceremony, Iftikhar Ali Malik, Chairman UBG and Vice President, Saarc Chamber of Commerce and Industry said that business community of the country has posed trust in UBG by voting for its nominated candidates in FPCCI elections, and assured that the new leadership of FPCCI would deliver up to their expectations. He said resolving key issues of the business community would be the top priority of FPCCI. He said UBG would use FPCCI platform for creating a conducive environment so that trade and industry could flourish and the economy could grow rapidly. He said FPCCI would be further strengthened to enhance the role of private sector in the economic development of the country.

FPCCI Senior Vice President Aamir Ata Bajwa, Vice Presidents Mian Shaukat Masud, Malik Manzoor ul Haq and Sajjad Sarwar said that best way to reduce poverty and unemployment was to facilitate the growth of trade and industry and FPCCI would make all possible efforts to achieve these goals.

Abdul Rauf former President FPCCI, Zafar Bakhtawari, Malik Sohail Hussain, Muhammad Faheem, Johar Ali Raki, Lali Shah, Sheikh Riaz ud Din, Khalid Javed Chairman Founder Group and others also spoke on the occasion and assured full support to UBG.

In his welcome address, Khalid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry congratulated Zubair Tufail on being elected as President FPCCI and hoped that he would work hard to turn FPCCI into a role model apex trade body of the country so that it could play leading role in resolving the issues of trade and industry. He stressed that FPCCI should take all chambers and associations of the country on board on important issues and finalize the budget and other economic policies with their consultation for the consideration of the government.

He said FPCCI should make strong efforts for promoting regional integration to unleash the real economic potential of this region. He said FPCCI should work with the government for providing representation to chambers and associations in the governing boards of business related public sector organizations that would help in promoting the interest of the business community. He said FPCCI should ensure due representation of Pakistan in important foreign exhibitions and trade fairs to improve Pakistan’s trade and exports. He also congratulated S.M. Munir Patron-in-Chief and Iftikhar Ali Malik Chairman of United Business Group and said that third consecutive victory of UBG in FPCCI elections reflected the trust and confidence of business community on its good performance.

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The share of Pakistani export in overall imports of African countries is hardly 1 % and we must take immediate steps to enhance it: Engineer Ahmed Hassan – Fnni.org

FAISALABAD (FNNI) The share of Pakistani export in overall imports of African countries is hardly 1 % and we must take immediate steps to enhance it, said Engineer Ahmed Hassan vice president Faisalabad Chamber of Commerce and Industry (FCCI).

Chairing a meeting of FCCI standing committee on Liaison with Trade Development Authority of Pakistan (TDAP), he said that government through TDAP is making strenuous efforts to increase Pakistani exports. Similarly, FCCI is also making efforts to contribute its role in enhancing exports from Faisalabad. He told that FCCI despite its limited resources had arranged many foreign delegations providing an opportunity to its members to explore the export potentials of various international markets. He observed that china is switching over from labor intensive to high-tech industries. This will create a vacuum especially in African markets and Pakistan can easily fill this gap. He said that this is a new opportunity and government of Pakistan should take the Pakistani exports into confidence to fill this gap. He also pointed out that India has already started activities in this respect and it has created special desks in all Indian embassies working in various African countries. He said that Pakistan should also establish such desks which could explore the available potentiality and suggest to the Pakistani exporters to avail of this opportunity. He said that FCCI will request the government to take immediate notice of this situation so that the Pakistani exporters could fill up this gap. He further suggested that Pakistani exporters could also launch joint ventures in collaboration with Chinese exporters to make a reasonable room for the Pakistani products in the African markets. Engineer Ahmed Hassan further said that TDAP should review its strategy to give a quantum jump to the export of traditional as well as nontraditional products. He told that the information about various exhibitions and expos organize by TDAP are immediately communicated to the FCCI members. However, TDAP should provide space for FCCI pavilion in various exhibitions organize by TDAP at subsidized rates.

The meeting was also attended by chairmen of the standing committee engineer Asim and its members.

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Government urged to reduce taxes on real estate sector for its better growth – Fnni.org

Islamabad (FNNI) Real estate sector was playing crucial role in the economic development of the country and creating jobs, but imposition of heavy taxes has hampered its growth and government should reduce tax rates on this important sector of the economy to facilitate its better growth, observed Khalid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry while addressing at Islamabad Real Estate Association (IREA). He visited IREA along with a delegation to congratulate Rana Arshad, newly elected President of the Association. ICCI Vice President Tahir Ayub, Khalid Javed, Khalid Chaudhry, Ch. Irfan, Saif ur Rehman, Nisar Miraz, Ms. Nasira Ali, M. Ashfaq Chatha, Naeem Siddiqui and others were also present at the occasion.

Khalid Iqbal Malik said that government has recently given some relief to real estate sector which was insufficient to remove its difficulties. He said Prime Minister Nawaz Sharif and Finance Minister Ishaq Dar had promised to launch a new amnesty scheme which would reduce problems of real estate sector and added that business community was still waiting for its announcement. He urged that government should immediately reduce tax rates on real estate sector to pave way for its fast growth that would bring multiple benefits to the economy. Khalid Javed, Chairman Founder Group assured that ICCI would play its role in resolving the key issues of real estate sector.

Speaking at the occasion, Rana Arshad, President and Zulqarnain Abbasi Secretary General of Islamabad Real Estate Association highlighted the key issues of their sector and hoped that ICCI would cooperate in addressing the same. He assured that his Association would fully support ICCI in its endeavors aimed at promoting business and economic activities.

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The Mayor should play a major role in providing and maintaining the street light system on modern scientific lines: Eng. Muhammad Saeed Sheikh – Fnni.org

FAISALABAD (FNNI) The overall lite condition in Faisalabad is abysmally poor and the newly elected Mayor should play a major role in providing and maintaining the street light system on modern scientific lines, said President Faisalabad Chamber of Commerce and Industry (FCCI) Engineer Muhammad Saeed Sheikh.

He said that Faisalabad city is inhabited by 3.5 million people and due to the hectic economic, business and industrial activities the people continue to roam on the roads throughout the day and the night. “It is very surprising that some of the busiest roads have no street light system which is resulting in rampant incidents of snatching and looting etc.”, he added.

He specifically mentioned the Abdullahpur underpass which has no street light. “This part has become a center of criminal activities”, he said and demanded that Municipal Corporation should make special arrangements to provide the street light system in this underpass on top priority basis.

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Self sufficiency in hybrid seeds of high yielding vegetables is prerequisite to start direct export of fresh vegetables: Engineer Ahmed Hassan – Fnni.org

FAISALABAD (FNNI) Self sufficiency in hybrid seeds of high yielding vegetables is prerequisite to start direct export of fresh vegetables to the neighboring countries including Gulf States and Middle East countries, said Engineer Ahmed Hassan vice president FCCI.

During his visit to Tuksel Seed Asia Mamunkanjan near here, he said that vegetables are short duration crops which could be ready for harvest within a short span of only 2 to 3 months. He said that the Middle East countries and Gulf States are our potential markets. “These countries are currently importing vegetables from the western countries in packed forms and at high cost”, he said and added that most of these countries prefer fresh vegetables and their needs could be fulfilled only by Pakistan. He appreciated the efforts of Mian Shoukat Ali Chief executive Tuksel that is producing hybrid seeds of high value crops. He said that Turkish collaboration has yield a positive results and now the Tuksel is producing seeds of disease resistance and high yielding crops of various vegetables over his modern farmland sprawling over 74 acres in Mamunkanjan area.

Continuing, he said that repaid urbanization coupled with squeezing water resources has necessitated the adoption of new technologies like drip irrigation. He said that through tunnel farming and drip irrigation, we could easily enhance the profitability of various crops.

Engineer Ahmed Hassan said that production of high yielding seeds can provide an opportunity to the small farmers to earn a sizeable income from their small land holdings. He said that in the backdrop of CPEC we should promote tunnel farming as its export will be easy and we would be able to export various crops to the neighboring oil rich countries.

Mr. Ahmed Hassan also stressed the need for value addition and said that despite of surplus reserves of wheat we are unable to add value to this basic and fundamental staple food. He said that generally our yield is for less than the other developed countries and we must concentrate on a two pronged policy. First we should try to get optimal per Acer yield and in second phase we should seek Turkish are preferably Chinese collaboration to add value in our 10 basic commodities available abundantly in Pakistan including perishable fruits and vegetables.

US wants to further enhance trade with Pakistan – Envoy – Fnni.org

Islamabad (FNNI) H.E. Mr. David Hale, Ambassador of USA said that Pakistan was an important ally of US against the war on terror and his country wanted to further enhance trade with it as the promotion of two-way trade would be mutually beneficial for both countries. He was talking to a delegation of Islamabad Chamber of Commerce and Industry that called on him led by President Khalid Iqbal Malik.

Khalid Malik Senior Vice President, Tahir Ayub Vice President ICCI, Mian Akram Farid, Mian Shaukat Masud, Zafar Bakhtawari, Nasir Qureshi and Muhammad Faheem Khan were in the delegation.

US Envoy said that Pakistan was an agricultural country but was using old technology and added that Pakistan could increase its agricultural productivity manifold by using latest agro technology and machinery of USA. He said security situation was improving in Pakistan which was laudable. He said improved security would attract more investors from the USA and other countries to Pakistan and help trade and industrial activities to flourish. He said the newly elected President of US was a businessman and he knew very well the importance of promoting business relations with other countries. He was optimistic that during the tenure of new US administration, Pak-US trade, and economic relations would get a further boost.

Speaking at the occasion, Khalid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry said that Pak-US bilateral trade during January-October 2016 was around $4.533 billion. However, he said there was lot more potential to further enhance two-way trade. He said both countries should work to facilitate direct contacts between their private sectors which were the best way to improve trade relations. He said Pakistan’s economy suffered a huge loss of $107 billion due to fighting a war against terror and urged that the US should provide easy access to more Pakistani products to its market that would be the best compensation for its economic loss. He said the US should launch direct flights to Pakistan that will help in promoting trade as well.

He said apart from defense products, both countries should focus on enhancing trade in many other areas. He said embassy should play role in bringing chambers of commerce of both countries closer that would help in identifying new areas of mutual cooperation. He said Pakistan manufactured high-quality pharmaceutical products and the USA should try to import these products from Pakistan for the benefit of its customers.

Khalid Malik Senior Vice President, Tahir Ayub Vice President ICCI, Mian Akram Farid, Mian Shaukat Masud, Zafar Bakhtawari, Nasir Qureshi and others also spoke at the occasion and shared ideas for further improving bilateral trade and economic relations between Pakistan and USA.

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