Tag Archives: ICCI

ICCI urges FBR to stop from harassing builders and developers

Islamabad, March 20, 2018 (PPI-OT): Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry has urged the Federal Board of Revenue to stop harassing builders and developers because such tactics would discourage investment in the real estate sector and hurt the economic growth of the country. He said on the pretext of expanding tax net, FBR has started issuing notices to builders and developers for providing details of buyers of shops and flats in the construction projects which was not a wise approach as it was creating harassment in the business community of real estate sector.

He said that after the agriculture, construction industry was the second largest jobs providing industry in the country and the growth of over 100 other ancillary industries was directly linked with the growth of construction industry. He said many countries in the world were providing good incentives to the real estate and construction industry in order to give boost to economic activities, but in Pakistan, tax machinery was taking measures to create more difficulties for this industry. He said all the details were provided to FBR at the time of transfer of property while the builders and developers were paying gain tax and advance tax on the lease and registration of property.

Sheikh Amir Waheed said that seeking the details of property buyers from builders and developers was tantamount to a conspiracy against the construction industry. He said due to such measures of FBR, investment in construction projects would be discouraged and would be confined to just buying and selling activities in real estate sector that would push the construction industry to the verge of collapse. He said the builders and developers were already mentally upset due to the current valuation methods of property and policies of FBR while such tactics of FBR would force them to withdraw investment from real estate sector and transfer capital out of the country that would not be in the interests of the economy.

Muhammad Naveed Senior Vice President and Nisar Mirza Vice President ICCI said that foreign investors wanted to invest in Pakistan, but unfair taxation system and measures of FBR against the investors were acting as a discouraging factors for local and foreign investment in Pakistan. They said that the future of many industries was associated with the real estate and construction industry and urged that FBR should stop issuing notices to builders and developers to save the economy from further damages.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526, 2253145, 8432676
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk

JICA Experts visit ICCI to discuss economic reforms with private sector

Islamabad, March 16, 2018 (PPI-OT): A delegation of experts of Japan International Cooperation Agency (JICA) working for various government organizations in Pakistan visited Islamabad Chamber of Commerce and Industry to discuss reforms in key sectors of the economy. Yuko Tanaka JICA Export for Board of Investment, Mei Saito JICA Expert for Trade Development Authority of Pakistan, Shunichi Uchida JICA Expert for Engineering Development Board and Hiroko Hayashi of Asia Engineering Consultant Co Ltd were in the delegation.

The delegation members said that they were working as JICA Expert for BoI, TDAP and EDB in Pakistan and they wanted to get the input of private sector for further reforms in the key sectors of the economy. They said they were working for developing an investment guidebook for Pakistan in order to lure more local and foreign investment in the country. They said that the suggestions of business community would be given due consideration for marking them part of investment guidebook.

They said they wanted automation of Pakistan’s industry so that it could achieve better growth. They said the Japanese companies needed easy access to Pakistani market that would further strengthen bilateral business relations between the two countries. Both sides discussed to organize a seminar at ICCI to highlight the potential areas of cooperation between Pakistan and Japan. The delegation assured to make suggestions and input of business community part of their recommendations for economic reforms in Pakistan.

Speaking at the occasion, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry said that TDAP should prepare feasibility studies on trade/exports promotion with various countries and upload on its websites so that private sector could take benefit of them for promoting trade and exports. He said government should provide more funds to Pakistani Commercial Counsellors in foreign countries so that they could cooperate with private sector in identifying new markets for Pakistani products.

He said that to improve gender parity, government should offer special incentives to women entrepreneurs for their economic empowerment and bringing them in the mainstream of economy. He said TDAP should focus on promoting trade with regional countries that offered great potential for exports. He said BoI should come up with attractive policies and incentives for foreign investors to bring more FDI in the country that would help in industrialization, improve exports and reduce dependence on foreign borrowing.

He said EDB should focus on strengthening engineering industry to promote exports of engineering goods that had great demand in the world. Muhammad Naveed, Senior Vice President ICCI said that instead of making Pakistan a trading hub, government should focus on industrialization. He said FTAs signed with various countries should also be revised as these FTAs have not fully benefited the private sector in promoting trade.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526, 2253145, 8432676
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk

JICA Experts visit ICCI to discuss economic reforms with private sector

Islamabad, March 16, 2018 (PPI-OT): A delegation of experts of Japan International Cooperation Agency (JICA) working for various government organizations in Pakistan visited Islamabad Chamber of Commerce and Industry to discuss reforms in key sectors of the economy. Yuko Tanaka JICA Export for Board of Investment, Mei Saito JICA Expert for Trade Development Authority of Pakistan, Shunichi Uchida JICA Expert for Engineering Development Board and Hiroko Hayashi of Asia Engineering Consultant Co Ltd were in the delegation.

The delegation members said that they were working as JICA Expert for BoI, TDAP and EDB in Pakistan and they wanted to get the input of private sector for further reforms in the key sectors of the economy. They said they were working for developing an investment guidebook for Pakistan in order to lure more local and foreign investment in the country. They said that the suggestions of business community would be given due consideration for marking them part of investment guidebook.

They said they wanted automation of Pakistan’s industry so that it could achieve better growth. They said the Japanese companies needed easy access to Pakistani market that would further strengthen bilateral business relations between the two countries. Both sides discussed to organize a seminar at ICCI to highlight the potential areas of cooperation between Pakistan and Japan. The delegation assured to make suggestions and input of business community part of their recommendations for economic reforms in Pakistan.

Speaking at the occasion, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry said that TDAP should prepare feasibility studies on trade/exports promotion with various countries and upload on its websites so that private sector could take benefit of them for promoting trade and exports. He said government should provide more funds to Pakistani Commercial Counsellors in foreign countries so that they could cooperate with private sector in identifying new markets for Pakistani products.

He said that to improve gender parity, government should offer special incentives to women entrepreneurs for their economic empowerment and bringing them in the mainstream of economy. He said TDAP should focus on promoting trade with regional countries that offered great potential for exports. He said BoI should come up with attractive policies and incentives for foreign investors to bring more FDI in the country that would help in industrialization, improve exports and reduce dependence on foreign borrowing.

He said EDB should focus on strengthening engineering industry to promote exports of engineering goods that had great demand in the world. Muhammad Naveed, Senior Vice President ICCI said that instead of making Pakistan a trading hub, government should focus on industrialization. He said FTAs signed with various countries should also be revised as these FTAs have not fully benefited the private sector in promoting trade.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526, 2253145, 8432676
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk

JICA Experts visit ICCI to discuss economic reforms with private sector

Islamabad, March 16, 2018 (PPI-OT): A delegation of experts of Japan International Cooperation Agency (JICA) working for various government organizations in Pakistan visited Islamabad Chamber of Commerce and Industry to discuss reforms in key sectors of the economy. Yuko Tanaka JICA Export for Board of Investment, Mei Saito JICA Expert for Trade Development Authority of Pakistan, Shunichi Uchida JICA Expert for Engineering Development Board and Hiroko Hayashi of Asia Engineering Consultant Co Ltd were in the delegation.

The delegation members said that they were working as JICA Expert for BoI, TDAP and EDB in Pakistan and they wanted to get the input of private sector for further reforms in the key sectors of the economy. They said they were working for developing an investment guidebook for Pakistan in order to lure more local and foreign investment in the country. They said that the suggestions of business community would be given due consideration for marking them part of investment guidebook.

They said they wanted automation of Pakistan’s industry so that it could achieve better growth. They said the Japanese companies needed easy access to Pakistani market that would further strengthen bilateral business relations between the two countries. Both sides discussed to organize a seminar at ICCI to highlight the potential areas of cooperation between Pakistan and Japan. The delegation assured to make suggestions and input of business community part of their recommendations for economic reforms in Pakistan.

Speaking at the occasion, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry said that TDAP should prepare feasibility studies on trade/exports promotion with various countries and upload on its websites so that private sector could take benefit of them for promoting trade and exports. He said government should provide more funds to Pakistani Commercial Counsellors in foreign countries so that they could cooperate with private sector in identifying new markets for Pakistani products.

He said that to improve gender parity, government should offer special incentives to women entrepreneurs for their economic empowerment and bringing them in the mainstream of economy. He said TDAP should focus on promoting trade with regional countries that offered great potential for exports. He said BoI should come up with attractive policies and incentives for foreign investors to bring more FDI in the country that would help in industrialization, improve exports and reduce dependence on foreign borrowing.

He said EDB should focus on strengthening engineering industry to promote exports of engineering goods that had great demand in the world. Muhammad Naveed, Senior Vice President ICCI said that instead of making Pakistan a trading hub, government should focus on industrialization. He said FTAs signed with various countries should also be revised as these FTAs have not fully benefited the private sector in promoting trade.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526, 2253145, 8432676
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk

Chinese delegation looking for partners for energy vehicles and elevators in Pakistan

Islamabad, March 13, 2018 (PPI-OT): A delegation of Chinese companies from Lanzhou City of China visited Islamabad Chamber of Commerce and Industry and showed keen interest to find partners for escalators, elevators, lifts and energy vehicles in Pakistan. The delegation was representing manufacturers of heavy duty escalators, elevators, lifts, battery vehicles and others.

Speaking at the occasion, Xuexian Pei, Head of Chinese delegation said that CPEC had put Pakistan and China on long-term business partnership and they have come to Pakistan to find partners for achieving win-win results. He said that Lazhou Yatai Eastern Elevators Co. Limited was manufacturing heavy duty escalators, elevators and lifts and it was looking for local partners in Pakistan for these products.

He said another member of the delegation was manufacturer of energy vehicles that operated on battery. He said the vehicle took 6 to 8 hours in full charging and ran up to 150 kilometres. He said that recharging station would be set up to recharge battery-operated vehicles. He said their main purpose of visiting Pakistan was to identify local partners for these products in Pakistan. At this occasion, they gave a detailed presentation on their products.

Addressing the delegation, Muhammad Naveed, Senior Vice President, Islamabad Chamber of Commerce and Industry said that CPEC has created plenty of new business and investment opportunities in Pakistan and it was the right time for Chinese investors to bring technology and set up joint ventures in Pakistan. He said that many big projects were under construction in Pakistan that needed heavy duty escalators, elevators and lifts and Chinese companies should shift their plants to manufacture these products in Pakistan.

He said Pakistan was an attractive market for automobiles and Chinese company should set up energy vehicles manufacturing plant in Pakistan. This way they would not only meet the needs of local market and they would be able to export their products to regional countries as well. He said that ICCI would set up a CPEC Facilitation Centre where its members would also be taught Chinese language so that they could easily communicate and materialize successful business deals with Chinese entrepreneurs.

Nisar Ahmed Mirza, Vice President ICCI thanked the Chinese delegation for visiting Chamber and hoped that their visit would culminate in finalization of some good business deals between the private sectors of both countries.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526, 2253145, 8432676
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk

Islamabad Chamber of Commerce and Industry for fostering entrepreneurship in youth from school level

Islamabad, March 12, 2018 (PPI-OT): Muhammad Naveed, Senior Vice President, Islamabad Chamber of Commerce and Industry said that entrepreneurship should be fostered in youth right from the school level and government should take measures to make entrepreneurship subject a part of school syllabus so that our youth could consider to carve out its career in entrepreneurship. He was addressing as Chief Guest the opening ceremony of Savvy School by Aspire Group of Colleges in Sector H-13, Islamabad.

He said fostering entrepreneurship in youth was vital to put Pakistan on the path of sustainable economic growth and schools should focus on teaching entrepreneurship as a subject to students that would be helpful in luring youngsters towards business world. He said there were not enough jobs in public and private sectors for educated youth and by becoming entrepreneurs, they would not only get a prosperous career, they would become job creators for others.

Muhammad Naveed said that Pakistan was a country of young population and youth was its greatest asset. However, if youth was not provided quality education, it could become a big burden on the country. He said the developed countries achieved fast economic growth by focusing on skills development and technical education of youth. He said government should pay more attention to developing skills and providing technical and vocational education to youngsters so that they could play effective role in the industrial development of the country.

He lauded the initiative of Aspire Group of Colleges for opening Savvy School in H-13 and hoped that it would provide quality education to the students of the area. Nasir Chaudhry, Chairman ICCI Sports Committee was also present at the occasion. In his welcome remarks, Ch. Muddasssar, Printing, Savvy School said that their school system was providing quality education to students and they were competing at national and international level. He said Savvy school system was working under the supervision of internationally qualified team.

He said that apart from teaching syllabus, the school was focusing on the personality development and character building of the subtends so that they could emerge as thorough professionals after completing education. He thanked Muhammad Naveed Senior Vice President ICCI for gracing the occasion as the Chief Guest along with his team and hoped that ICCI members would continue to visit the Savvy School to give lectures on entrepreneurship and share their experience with the students.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526, 2253145, 8432676
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk