FPCCI extends tenure of officebearers by a year
FPCCI held its Executive Committee and Extra Ordinary General Body Meeting l simultaneously at Capital Office (Chair), Head Office Karachi and Regional Office Lahore, Peshawar and Quetta.
The meeting was chaired by Atif Ikram Sheikh, President FPCCI & ECO-CCI and Vice President CACCI and attended by Executive Committee and General Body Members of FPCCI and other leading businessmen and industrialist.
Tax ordinance will be reviewed, SAPM tells FPCCI
The house passed the audited accounts of FPCCI for the year 2024 and unanimously appreciated the performance President FPCCI and national and international level for facilitating the business community and resolving their issues.
During the recent past months, the FPCCI organized its delegation to UK, Bangladesh, Turkiye, Singapore, Belarus, Saudi Arabia etc and successfully held meetings at different multilateral forums like CACCI, Islamic Chamber of Commerce and Development, D-8 Chamber of Commerce and Industry, Commonwealth Trade and Investment Summit etc.
FPCCI first time in history organized Sustainable Tourism Forum with the collaboration of OIC for promoting tourism potentials and highlighting soft image of Pakistan and hosted 50 members delegation of ASEAN countries.
The house also lauded launch pad initiative of FPCCI that will support new start ups and innovative ideas of universities.
The President FPCCI also apprised the house about their meetings with Prime Minister of Pakistan and other important organizations regarding forthcoming budget including taxation and tariff related issues.
During the meeting, the house expressed their full confidence on President FPCCI and affirmed their commitment to providing their full support and cooperation in enhancing performance of FPCCI.
The house also commended the efforts of President FPCCI for the approval of Trade Organization Amendment Bill, 2025 that will allow two years tenure of Office Bearers of Trade Bodies with a view to continue their policies and achievement of goals and targets.
The house also unanimously passed the resolution in the Executive Committee and Extra Ordinary General Body Meeting of FPCCI that allow the Office Bearers of FPCCI to extend and continue their tenure/ services in the year 2026 in order to align the tenure of FPCCI with the tenure of other trade bodies.
The house believed that the alignment of FPCCI elections with trade bodies will facilitate the smooth operations in policy advocacy, trade diplomacy and removal of trade bottleneck.
This will also help in policies continuity and representation of business interest at national and international level.
The resolution was presented by FPCCI Vice President Qurat-ul-Ain, who explained that if the FPCCI elections are not extended by one year, the election timelines of chambers across the country and the federation will fall out of sync, creating persistent problems in every election cycle.
She further pointed out that an anomaly still exists in the National Assembly: while the terms for chambers and trade organizations have been set at two years, there has been silence regarding the federation's term.
Regulation emphasized that if the National Assembly and the Cabinet approve the one-year extension for FPCCI elections, the matter will be permanently aligned.
The meeting was attended by members from across the federation and all four provinces, including UBG's Patron-in-Chief S.M. Tanveer.
The gathering also strongly appreciated the recent successes of the Pakistan Armed Forces against India and praised the political leadership.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
10 hours ago
- Business Recorder
China and Russia start joint drills in Sea of Japan
BEIJING: China and Russia began joint naval drills in the Sea of Japan on Sunday as they seek to reinforce their partnership and counterbalance what they see as a US-led global order. Alongside economic and political ties, Moscow and Beijing have strengthened their military cooperation in recent years, and their relations have deepened since Russia invaded Ukraine in February 2022. The 'Joint Sea-2025' exercises kicked off in waters near the Russian port of Vladivostok and would last for three days, China's defence ministry said in a statement on Sunday. The two sides will hold 'submarine rescue, joint anti-submarine, air defence and anti-missile operations, and maritime combat'. Four Chinese vessels, including guided-missile destroyers Shaoxing and Urumqi, are participating in the exercises alongside Russian ships, the ministry said. After the drills, the two countries will conduct naval patrols in 'relevant waters of the Pacific'. China and Russia have carried out annual drills for several years, with the 'Joint Sea' exercises beginning in 2012. Last year's drills were held along China's southern coast. The Chinese defence ministry said Friday that this year's exercises were aimed at 'further deepening the comprehensive strategic partnership' of the two countries. China has never denounced Russia's more than three-year war nor called for it to withdraw its troops, and many of Ukraine's allies, including the United States, believe that Beijing has provided support to Moscow. China insists it is a neutral party, regularly calling for an end to the fighting while also accusing Western countries of prolonging the conflict by arming Ukraine.
Business Recorder
18 hours ago
- Business Recorder
FPCCI underscores need for reducing interest rate
KARACHI: The Acting President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Zaki Aijaz said that keeping the interest rate at 11% and not reducing electricity prices has worsened the economic situation. He urged the government to bring the interest rate into single digits without waiting for the new monetary policy, in order to revive the economy. Addressing press conference, he declared the country's economy to be 'dead'. He stated that due to the government's measures, the economy is unable to revive and is currently in a dead state. He further stated that after successful negotiations between the government and the business community official notifications are expected to start being issued by Monday. Zaki Aijaz claimed that the government has accepted their demands regarding Section 37AA, the two-lakh cash deposit limit, and digital invoicing. He said that Section 37AA was a major demand of the business community, and FBR has already issued a notification on it. As per the notification, a five-member committee has been formed. Regarding cash deposits over PKR 200,000, he explained that there will be no tax on such transactions if they are made through sales tax registered accounts and are properly invoiced. He also informed that the government has given time from September to December 2025 for the implementation of digital invoicing. Zaki Aijaz further revealed that the Karachi Chamber of Commerce had assured the government during negotiations that there would be no strike, but despite issuing a press release to that effect, they later called for a strike independently. Copyright Business Recorder, 2025
Business Recorder
2 days ago
- Business Recorder
Marka-e-Haq celebrations kicks off in Hyderabad
HYDERABAD: The District Administration of Hyderabad has officially launched the celebrations for Independence Day and Victory of Truth, 'Marka-e-Haq' with a vibrant rally led by Deputy Commissioner Zain-ul-Abideen Memon. The event began from Shahbaz Building and proceeded to the Post Master General Chowk, marking the formal start of a series of festivities planned from August 1 to 14. The rally saw enthusiastic participation from Assistant Commissioners of all four talukas District Health Officer, officers from the district police and traffic departments, as well as officials from Local Government, Highways Department, Culture Department, and Social Welfare Departments. School children and women also joined in large numbers, waving national flags, holding banners, and chanting patriotic slogans. While speaking to the media, Deputy Commissioner Zain-ul-Abideen Memon said that, In May, we defeated our hostile neighbor in a historic battle the Victory of Truth, 'Marka-e-Haq' As we step into Pakistan's 78th Independence Day celebrations, the Government of Pakistan, the Government of Sindh, district administration and all departments are united in celebrating this momentous occasion from August 1 to 14. The Deputy Commissioner Hyderabad announced the day began with the plantation of 5,000 trees in various parts of the city, involving school students and citizens. He emphasized that today's rally marks the beginning of a grand schedule of events, including a mega student flag project, a marathon race, and the Cricket Tournament. He also noted that August 4 will be observed as Martyrs' Day, and August 5 as Exploitation Day, with various events planned to commemorate both occasions. Our goal is to create meaningful and festive experiences for the lively people of Hyderabad,' he added. 'We request the media to cover these celebrations widely so the world sees how united and proud Hyderabadis are of their country and its victories. Copyright Business Recorder, 2025
