Tag: FPCCI

FPCCI Condemns 18% Tax on E-Commerce and Solar Panels, Calls for Immediate Withdrawal

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FPCCI-Project

KARACHI: Muhammad Amaan Paracha, Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has sharply criticized the federal budget 2025–26, saying it falls short of the expectations of trade, industry, and the general public. He denounced the imposition of 18% tax on e-commerce transactions, arguing it will suppress the potential of unemployed youth who had found income opportunities through online platforms. “This move is unjust and counterproductive,” he remarked. Paracha also strongly opposed the 18% sales tax on solar panels, warning it will drive up prices…

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5 Billion Initial Investment Announced for Air Karachi to launch new airlineAtif Ikram Sheikh, President FPCCI

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FPCCI-Project

Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has apprised that, in a transformational initiative for Pakistan’s aviation industry and its skies, top businessmen have formed a strategic alliance to launch the much needed, world-classes airline for Pakistan – which is named Air Karachi as its Head Office will be based in Karachi. The mega-venture is a joint effort by prominent business leaders and corporate investors; including, FPCCI President, Mr. Atif Ikram Sheik, as a major shareholder. Mr. Atif Ikram Sheikh informed that other notable shareholders of Air Karachi include big…

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Country needs New Law of OGRA to reflect ground realitiesPresident FPCCI

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FPCCI-Ogra

Karachi: Atif Ikram Sheikh, President FPCCI, has demanded that the country needs a new law for its Oil & Gas Regulatory Authority (OGRA) to reflect the ground realities of LPG supply chain in the country – and, make the regulatory environment facilitative, enabling and fair to all the stakeholders and consumers. Atif Ikram Sheikh elaborated that OGRA law does not include retailers and ends with the distributors; and, that is the reason that so many accidents are happening at the retail level. Distributors should also be bound law to by…

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FPCCI Calls for Unrestricted Access to Winter Power Relief for SMEs

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Qurrat-Ul-Ain

KARACHI — The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), through its Acting President Qurrat Ul Ain, has urged the government to extend its winter electricity relief package to small and medium enterprises (SMEs) without the 100,000-unit consumption condition from the prior year. Qurrat Ul Ain suggested that the Rs26/kWh rate apply to all incremental units consumed beyond this threshold, allowing SMEs and newer industries to benefit equally alongside larger companies. She noted that this restriction could hinder the package’s effectiveness by disadvantaging smaller businesses, limiting growth in…

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Circular Debt: A Major Threat to Pakistan’s Economic Stability, Warns Mazhar Ali Nasir

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Mazhar-Ali

KARACHI : Syed Mazhar Ali Nasir, a central leader of the United Business Group and former Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has raised serious concerns about Pakistan’s growing circular debt, labeling it as one of the most pressing challenges facing the economy. Speaking on the occasion of Pakistan’s Independence Day, Nasir highlighted that the circular debt has ballooned from PKR 400 billion in 2012 to a staggering PKR 2.5 trillion in 2024—a six-fold increase that is crippling the nation’s financial stability.…

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