logo
Finance bill: FCCI says will protest against ‘black laws'

Finance bill: FCCI says will protest against ‘black laws'

FAISALABAD: 'The Faisalabad Chamber of Commerce and Industry has decided to strongly protest against the black laws included in the Finance Bill 2025-26, however, the future course of action will be decided in consultation with business organisations.'
This was stated by Acting President of Faisalabad Chamber of Commerce and Industry Qaiser Shams Gucha while addressing at a press conference after a joint meeting of business organisations recently.
He said that Karachi, Lahore and Sialkot chambers have decided to go on strike on July 19 against 5 important provisions. We are against the provisions of A-37 and B-37 giving powers of arrest to the FBR and other serious punishments for the unity of the business community, but the final decision on the strike will be taken in consultation with local business organisations. He said that there is no discrimination between industrialists and traders as the new law will be equally applicable to the entire business community.
He said that Karachi, Lahore and Sialkot Chambers have mentioned only five very serious provisions while dangerous provisions for arrest of owners are also being included in the proposed provincial labor laws and they will also demand their return among their demands during the protest. He said that the business community's reaction against the budget has reached the government and it is expected that the government will reconsider the demands of the business community, due to which there will be no need for a strike on July 19.
They said that if their legitimate demands are not accepted, there will be a full-scale protest, the center of which will be the Ghanta Ghar Chowk in Faisalabad. Where there will be a joint protest by all organisations.
They further said that we are with all the chambers of Pakistan and if the government does not accept our demands, we will go on a full-scale strike. However, he urged the government to immediately acknowledge the legitimate demands of the traders and industrialists so that the economy can continue to improve. He thanked the journalists for their cooperation and said that he would play his full role in conveying the legitimate demands of the business community to the higher authorities. Finally, Vice President Shahid Mumtaz Bajwa thanked the journalists.
Copyright Business Recorder, 2025
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

‘This isn't just poor policy, it is economic self-sabotage'
‘This isn't just poor policy, it is economic self-sabotage'

Business Recorder

timean hour ago

  • Business Recorder

‘This isn't just poor policy, it is economic self-sabotage'

Doing honest, formal business in Pakistan has become untenable. The latest move of raising withholding tax on services from 9% to 15% means you are now paying 15% of gross revenue upfront to the government. Not profit, revenue. This is how FBR meets its tax targets: by squeezing those already in the formal economy. Tax refunds as a consequence of these policies continue to mount and are never refunded. 10% of my capital is stuck in tax refunds for years. Every year, formal businesses in Pakistan are battered down by excessive corporate and advance taxes. When you add it all up, the effective corporate tax burden exceeds 40% and that is before you even account for the cost of compliance and withholding distortions. Pakistan is perhaps the only country where both exist simultaneously: exorbitant corporate taxes and an inequitable personal tax regime. This isn't just poor policy, it is economic self-sabotage. As long as such predatory taxation continues, don't expect meaningful investment or GDP growth. The system is rigged against those trying to play fair. Najam Ali (Karachi) Copyright Business Recorder, 2025

CM monitors post-rain situation
CM monitors post-rain situation

Business Recorder

time4 hours ago

  • Business Recorder

CM monitors post-rain situation

LAHORE: Chief Minister Punjab Maryam Nawaz Sharif paid a surprise visit to the Lahore city in order to monitor post-rain situation. She visited Misri Shah, Laxami Chowk and other areas to review drainage situation in the city. She also reviewed arrangements being made by WASA for drainage of rainwater accumulated on the roads and in the vicinity areas. She directed to further streamline drainage situation in the city. She also reviewed cleanliness arrangements being made under 'Suthra' Punjab Programme and also monitored traffic situation in the city. Copyright Business Recorder, 2025

LUMS celebrates Class of 2025
LUMS celebrates Class of 2025

Business Recorder

time4 hours ago

  • Business Recorder

LUMS celebrates Class of 2025

LAHORE: LUMS commemorated the achievements of its graduating Class of 2025 through a series of memorable ceremonies held over two days. Degrees were conferred upon over 1,400 graduates across the University's five schools, celebrating the excellence and hard work of both undergraduate and graduate students. They were joined by their families, friends, and faculty as they marked this major milestone. The convocation was graced by prominent members of the University's leadership, including Pro Chancellor Abdul Razak Dawood, Vice Chancellor Dr Ali Cheema, members of the Board of Trustees, Deans, and distinguished faculty members. Together, they honoured the academic accomplishments of the students and paid tribute to their perseverance and dedication. Copyright Business Recorder, 2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store