Latest news with #AhmedIdreesChohan
Business Recorder
02-07-2025
- Business
- Business Recorder
2022 flood victims: ADB, Sindh govt launch ‘business recovery' initiative
HYDERABAD: The Asian Development Bank (ADB) in collaboration with the Government of Sindh has launched a significant business recovery and empowerment initiative aimed at families affected by the 2022 floods. A delegation from ADB, led by Gender Specialist Judha Bukhari, visited Hyderabad and held a strategic meeting at the office of the Hyderabad Chamber of Small Traders & Small Industry (HCSTSI). During the meeting, detailed discussions were held on a new Rs. 440 million project that focuses on business support, skills training, and financial assistance for flood-affected households. She informed participants that approximately 2.1 million families were impacted by the 2022 floods. In the initial phase, more than 6,000 families will be supported to start small businesses tailored to their needs and capabilities. 'Each family will receive financial assistance ranging from Rs. 100,000 to Rs. 300,000 or more, depending on the viability of their business ideas,' she stated. 'The objective of this initiative is to empower vulnerable communities by enabling them to become self-sufficient through sustainable livelihoods.' She also highlighted that the core purpose of the meeting was to gather practical business ideas and develop an effective local strategy in collaboration with the community. She appreciated the support extended by HCSTSI for the upcoming business survey in Hyderabad and described the partnership as a model for impactful collaboration. Speaking on the occasion, HCSTSI Acting President, Ahmed Idrees Chohan lauded the initiative as a 'timely and commendable joint effort by ADB and the Government of Sindh.' He emphasized that the program would particularly benefit women and youth, helping them achieve financial independence. 'Small-scale business models such as sewing machine distribution for home-based women, tailoring services, tiff in services, and e-commerce training can help individuals market their products on digital platforms,' He said. He also stressed the need to promote the establishment of new industries where flood-affected individuals can find employment and contribute to national economic growth. HCSTSI Vice President Shan Sehgal added that small-scale hospitality and food ventures can have a strong impact. Citing the example of Bangladesh, he noted that millions of women there have become self-reliant through microenterprises a successful model that Pakistan can also adopt. He further suggested that technical training and marketing skills should be imparted to youth, enabling them to independently manage sustainable businesses. Copyright Business Recorder, 2025
Business Recorder
28-06-2025
- Business
- Business Recorder
HCSTSI team participates in ‘Financing Agreement Signing' ceremony
HYDERABAD: A high-level delegation of Hyderabad Chamber of Small Traders & Small Industry (HCSTSI) participated in the 'Financing Agreement Signing Ceremony' and the event organized in connection with the Global Micro, Small and Medium Enterprises Day (MSMEs Day). The delegation was led by Acting President Ahmed Idrees Chohan, who was invited as the Chief Guest at the prestigious event. The program was organized by the Sindh Agricultural and Forestry Workers Coordinating Organization (SAFWCO) under the Growth for Rural Advancement and Sustainable Progress (GRASP) project, aimed at supporting and financing MSMEs. On this occasion, selected SMEs were awarded grants of Rs. 10 million and Rs. 20 million. While addressing the ceremony, Ahmed Idrees Chohan highlighted that the Global MSMEs Day, observed annually on June 27 under the United Nations, serves as a reminder that small and medium enterprises are the backbone of any economy. In a developing country like Pakistan, MSMEs are key drivers of employment, innovation and economic sustainability. He appreciated the efforts of SAFWCO, GRASP, European Union (EU), International Trade Centre (ITC), Pakistan Poverty Alleviation Fund (PPAF) and other partner institutions for making financial support for SMEs a reality and celebrating the day with full spirit. Copyright Business Recorder, 2025
Business Recorder
23-06-2025
- Business
- Business Recorder
HCSTSI lauds ‘food & consumer expo'
HYDERABAD: A delegation of the Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), led by acting President Ahmed Idrees Chohan, visited the Sindh Food & Consumer Expo 2025 at Abdullah Qasimabad. He said the expo serves as a unique recreational, educational and commercial opportunity for the people of Hyderabad. He appreciated the strong participation of the food industry, consumer product brands and local entrepreneurs, adding that the expo hosts dozens of stalls offering a wide range of delicious food items, household products and other consumer goods. Copyright Business Recorder, 2025
Express Tribune
18-06-2025
- Business
- Express Tribune
HCSTSI slams FBR arrest powers in budget
Listen to article Hyderabad Chamber of Small Traders & Small Industry (HCSTSI) Acting President Ahmed Idrees Chohan has strongly condemned the inclusion of a new Section 37AA in the Sales Tax Act under the Federal Budget 2025-26. He called the amendment draconian and unconstitutional, saying it allows Federal Board of Revenue (FBR) officers to arrest any businessman, industrialist, CEO, or director merely on suspicion, without a warrant. He termed it the most dangerous legal provision in Pakistan's history. Chohan said the section empowers FBR officers to arrest and detain individuals for up to 14 days without court approval or a judicial warrant. "This violates justice and assaults constitutional rights and damages business freedom. What kind of financial reform instills fear among investors by allowing tax officials to arrest people?" he asked. "Is being an industrialist now a crime in Pakistan?" He questioned whether the government wants to promote business or drive investors abroad to business-friendly countries like Bangladesh, Vietnam, Malaysia, or the United Arab Emirates (UAE), where no such arrest clauses exist. While the world promotes ease of doing business, Pakistan appears to treat entrepreneurs like criminals, he said. The HCSTSI leader said such arbitrary arrest powers don't exist in any developed or developing country. "If someone is evading taxes, a judicial system already exists. The FBR isn't a judicial body or law enforcement agency. It has no authority to arrest," he added. Chohan labelled Section 37AA as "economic terrorism" and a deliberate act of "capital destruction". He warned that if the clause remains, Pakistan's business community will feel unsafe and foreign investment will stay away.
Business Recorder
16-06-2025
- Business
- Business Recorder
HCSTSI irked by meagre allocation for Sukkur-Hyderabad motorway
HYDERABAD: The office-bearers of the Hyderabad Chamber of Small Traders & Small Industry (HCSTSI) regretted that the federal allocated a mere Rs 15 billion in the 2025–26 PSDP for the Sukkur–Hyderabad Motorway (M-6) a strategic infrastructure project with a total estimated cost of over Rs 400 billion. They noted that at this pace, the project may not be completed even in the next decade. Such a symbolic and insufficient allocation reflects a serious lack of commitment and is tantamount to an injustice against Sindh and its vital role in Pakistan's trade and connectivity. The business community categorically rejects this approach and demands immediate and substantial funding to expedite the project. They said that although both governments have emphasised developmental objectives, digital reforms, and increased social sector allocations, there is a glaring lack of practical relief and structural support for small traders, manufacturers, and the broader business community. President HCSTSI Saleem Memon stated that initiatives like the SME Policy 2024–27, digital reforms in the FBR, the introduction of an automated refund system, and faceless audits are commendable steps. However, without timely and effective implementation, these initiatives may remain merely on paper. He cautioned that the imposition of new taxes on Cash on Delivery (COD), Digital Services and Digital Presence could severely impact small and emerging online businesses that are still in their nascent stages. Senior Vice President Ahmed Idrees Chohan pointed out the rise in withholding tax rates would further escalate the operational costs for small and medium enterprises (SMEs). Moreover, the federal budget failed to announce any relief in industrial electricity tariffs, time-of-use rates, or subsidies for SMEs, which is a significant shortcoming considering the ongoing energy cost burden. Vice President Shan Sehgal expressed concern over the increase in carbon levy, particularly the hike from 2.5% to 5% on furnace oil, stating that many small industries are still in transition and not yet fully equipped with renewable energy alternatives such as solar systems. This would further inflate production costs and hinder their competitiveness. Copyright Business Recorder, 2025
