Tag Archives: Apex Business Organization of SAARC

Government policies moving in right direction and it gave a new hope to nation in general and business community in particular: Iftikhar Ali Malik

Karachi, January 06, 2014 (PPI-OT): Former President FPCCI,Co-Chairman Businessman Panel and Vice President of SAARC Chamber of Commerce and Industry, Iftikhar Ali Malik has expressed confidence that the present government policies moving in right direction and it gave a new hope to the nation in general and the business community in particular as the people both in the country knew well that the situation would take a positive turn in the year 2014 and polices will bring economic revival .

Speaking at his birthday with business community, he lauded the economic direction of the government terming it encouraging in the present circumstances.

He said provision of natural gas to the export-oriented textile industry in Punjab will help country benefit from the recently awarded GSP plus status to Pakistan, it said. Government should try to fulfill all the energy needs to the export-oriented industry to fully benefit from the trade discounts amid chronic energy shortages.

He also studied the operations of various chambers, trade bodies and associations in the both countries and exchanged views with the trade officials.

Malik said that the decision to provide gas to industry in Punjab will save jobs, provide employment to many and help Pakistan improve the forex reserves through exports.

He called upon the industrial units benefitting from trade concessions to upgrade their plans and boost capacity.

He said polices are expected to gave a great boost to the confidence of the business community as the steps announced by Nawaz Sharif were quite in line with the private sector demands.

To me the establishment of Prime Minister Business Advisory Council and Prime Minister Agriculture Advisory Council are the most important decisions as these councils would not only help improve economic conditions in the country but give proper direction to the economy in coming days and months.

He said the decision to establish Business and Agriculture Advisory Councils is enough to make the point that the Prime Minister believes in collective wisdom instead of taking a solo flight to destination.

He said that the government was pledge to further improve relation with neighbours is a step in right direction and would pave way for increased regional trade and would definitely discourage smuggling and trade via third country.

Malik said that PM’s youth loan scheme will boost economic activity as young are fully capable to produce results if they are provided opportunities.

He said that promise of Finance Minister Ishaq Dar to ensure greater clarity is encouraging as economy cannot prosper in absence of transparency.

The improved performance of the stock exchange is reflective of the policies of the government which must be sustained.

He said that PM’s resolve on law and order, terrorism, sectarian violence, situation in Karachi, relations with India, energy crisis, weak economy, non-resident Pakistanis were encouraging for the business community.

Malik said that audit exemption to honest businessmen was a long standing demand of the business community for expansion of tax-net and I think the Prime Minister has done a great job to this regard.

He said taxpayer recognition cards to top taxpayers , with an entitlement to use VIP lounge at airports, get fast-track immigration and gratis passport, increase baggage allowance from $500 to $5000 have no parallel in country’s taxation history.

For more information, contact:
South Asian Association for Regional Cooperation Chamber Of Commerce and Industry
Apex Business Organization of SAARC
House No. 397, Street 64, I-8/3, Islamabad- Pakistan
Tel: +9251 486 0611 -3, 831 6023
Fax: +9251 831 6024
Email: info@saarcchamber.org,
Website: www.saarcchamber.org

The post Government policies moving in right direction and it gave a new hope to nation in general and business community in particular: Iftikhar Ali Malik appeared first on AsiaNet-Pakistan.

Vice President SAARC Chambers of Commerce and Industry welcomes approval of GSP Plus status to Pakistan

Karachi, December 13, 2013 (PPI-OT): Vice President Saarc Chambers of Commerce and Industry Mr. Iftikhar Ali Malik in a welcomed the grant of Generalized Scheme of Preference (GSP+) by European Parliament. GSP plus provides the GSP facility to all products being imported in EU. He said that currently, there are 27 countries in EU and their aggregate import from Pakistan is about 6 billion dollars and exports to Pakistan are around 10 billion dollars.

In a statement issued, Vice President Saarc Mr. Iftikhar Ali Malik have welcomed the approval of GSP Plus status to Pakistan, which will certainly pave way for enhanced exports to Europe.

They further advised the government to facilitate the business community, particularly the export-oriented industry by ensuring adequate infrastructure along with uninterrupted power supply so that the exporters could play their role in boosting Pakistan’s export to Europe which will certainly help in earning the much-needed foreign exchange for the country, besides efficiently dealing with the economic crisis.

Vice President Saarc also applauds the efforts of consecutive government in Pakistan for achieving GSP Plus status. He said that EU remains Pakistan’s largest trading partner after USA; receives 25 percent of Pakistan’s exports and providing 10 percent of Pakistan’s imports. Overall trade volume between EU and Pakistan is US$10.9 billion with trade surplus of US$1.78 billion Pakistan’s favor.

Pakistan exported mainly textile and leather products to EU and imported mechanical and electrical machinery, chemical and pharmaceutical products. The bad governance, lack of quality assessment and infrastructure for quality exports, the potential of exports to EU is not optimized.

Iftikhar Ali Malik, while terming it a great achievement of the PML(N) government, said that the status will prove to be of great benefit to Pakistan’s textile manufacturers and exporters who will now have access to 27 European countries without having to pay duties.

Malik said further stated that the surge in the expected demand can be materialized only if production process will remain in process. The break in production process because of energy and gas shortage or law and order situation will not allow industry to increase its exportable production.

They said that it will give a boost to Pakistani exports by at least US$2 billion keeping in view the enormous demand of Pakistani products in the European markets but the Pakistani manufacturers and exporters must also focus on producing high-quality products according to European standards so that they could not only maintain their market share but take it to new heights.

For more information, contact:
South Asian Association for Regional Cooperation Chamber Of Commerce and Industry
Apex Business Organization of SAARC
House No. 397, Street 64, I-8/3, Islamabad- Pakistan
Tel: +9251 486 0611 -3, 831 6023
Fax: +9251 831 6024
Email: info@saarcchamber.org,
Website: www.saarcchamber.org

The post Vice President SAARC Chambers of Commerce and Industry welcomes approval of GSP Plus status to Pakistan appeared first on AsiaNet-Pakistan.

Leadership of South Asian Association for Regional Cooperation Chamber of Commerce and Industry urges for granting Most Favourite Nation Status to India

Islamabad, June 25, 2013 (PPI-OT): The leadership of SAARC Chamber of Commerce and Industry ( SAARC CCI) from India and Pakistan Chapters have urged upon the newly elected Government in Pakistan to announce MFN status as a priority matter while regarding it as one of the strongest Confidence Building measures between two big economies of South Asia.

Mr. Vikramjit Singh Sahney, the incumbent President of SAARC CCI who is scheduled to visit Pakistan as a member of India-Pakistan Business Council (IPBC) to attend the inaugural meeting of Joint IPBC, scheduled at the end of this June said that MFN was one of the fundamental principles of the multilateral trading system and each member nation of WTO was obliged to grant MFN Status to other member country under the article I of GATT.

“India perceives MFN as an economic obligation and conferred this status to Pakistan in 1996, soon the enactment of the WTO agreement” said President SAARC CCI and added that further delay will diminish spirit of high level dialogues between two countries.

He further said that Prime Minister of Pakistan has already expressed his vision to further improve bilateral relations with India and announcement of granting MFN status will help bridge trust gap between two neigbouring nations.

Mr, Iftikhar Ali Malik, Vice President of SAARC CCI (Pakistan Chapter) and Mr. S.M. Muneer, President India-Pakistan Chamber of Commerce and Industry who are also members of IPBC have reiterated that MFN status should also be perceived as economic obligation being an active member of WTO. There were of the opinion that Granting MFN status to India had misleading interpretation in Pakistan.

“MFN does not mean that India is the “Most Favourite” nation, it simply conceding similar trade concessions as accorded to other WTO member countries. They also and urged on Indian Government to remove country specific Non-Tariff Barriers, allowing Pakistan exports to make niche in big Indian market

“We have the understanding that some of our Industrial sectors may face challenges if trade is open under MFN, however, options like setting up joint ventures in such areas can be explored” said Mr. Iftikhar Ali Malik and added that Pakistani enterprises need to enhance its competitiveness and productivity as is was the demand of prevailing free trade regime.

The business leaders welcomed the upcoming inaugural JIPBC meeting (June 29, 2013) in Pakistan and termed it as an important step forward to deepen bilateral economic relations.

For more information, contact:
South Asian Association for Regional Cooperation Chamber Of Commerce and Industry
Apex Business Organization of SAARC
House No. 397, Street 64, I-8/3, Islamabad- Pakistan
Tel: +9251 486 0611 -3, 831 6023
Fax: +9251 831 6024
Email: info@saarcchamber.org,
Website: www.saarcchamber.org