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Business Recorder
4 days ago
- Business
- Business Recorder
All major markets in Lahore stay shut
LAHORE: All major commercial areas, including Shah Alam Market, Akbari Mandi, Hall Road, Mall Road, Anarkali, and others, were shut down, with support from all factions of the city's traders' unions. The Lahore Chamber of Commerce also endorsed the protest. The strike, called in protest against expanded powers granted to the Federal Board of Revenue (FBR), divided traders into opposing camps. Traders' leader Haji Maqsood Butt declared the strike a success and warned that if the FBR continued to 'harass' traders or exert 'unjustified authority,' further action would be taken. 'We are united, and we reject forced compliance,' he said. Lahore Chamber of Commerce and Industry President Mian Abuzar Shad has appreciated the business community for showing a great response and the overwhelming success of the nationwide shutter-down strike on July 19. The press conference was attended and addressed by Senior Vice President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry, former Presidents Mian Anjum Nisar, Muhammad Ali Mian, former Senior Vice President Ali Hussam Asghar and former Vice President Faheem ur Rehman Saigol. Speaking on the occasion, LCCI President Mian Abuzar Shad said that the 19th of July 2025 will go down in history as a defining day of awareness, unity and struggle by Pakistan's business community. He extended heartfelt gratitude to the traders, shopkeepers, industrialists and all market associations of Lahore who responded to the LCCI's call and ensured a complete, peaceful and disciplined strike. Lahore has proven today that it is not just a city – it is a sentiment, a force. The LCCI President also appreciated the strong response from other cities including Karachi, Hyderabad, Sukkur and others who joined hands for a common cause. He added that Lahore and Karachi collectively contribute over 60% of Pakistan's economic activity. Today, that 60% was silenced, not by force, but by choice to register protest against oppressive and non-consulted tax measures. He informed the media that nearly eight hours of negotiations were held via Zoom on July 18 , involving top government officials including Haroon Akhtar Khan, Chairman FBR Rashid Langrial, Bilal Azhar Kayani and others while from the LCCI, the meeting was attended by the LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry, Former Presidents Mian Anjum Nisar and Muhammad Ali Mian, Former SVP Ali Hussam Asghar and former Vice President Faheem ur Rehman Saigol. During the discussion, the LCCI demanded urgent revisions and clarifications on Section 37AA, Implementation of E-Invoicing and e-bilty system, 16% sales tax on rent of properties and 20% tax on transactions above PKR 200,000. 'We asked for a public statement or at least official meeting minutes to share with our stakeholders. Neither was provided. This left us with no choice but to proceed with a strike,' said Mian Abuzar Shad. LCCI Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry said that we are patriots. We are willing to pay taxes. But we demand justice and inclusion in policymaking. Our protest is not for personal gain but to safeguard millions of livelihoods across the country.' The LCCI leadership said that business community has been invited at the LCCI on July 23 (Wednesday) to chalk out the next steps. LCCI President Mian Abuzar Shad made a appeal to Prime Minister Shahbaz Sharif and Deputy Prime Minister Ishaq Dar to hear our legitimate demands and help avoid a nationwide economic crisis. They said that this is not an individual's issue. This is about collective survival. Those who thought a strike would never happen should now open their eyes to the ground reality. They said that business community is the backbone of Pakistan's economy andtheir concerns must be taken seriously. The leadership warned that inaction will result in larger movements, but added that their doors remain open for dialogue. LCCI President Mian Abuzar Shad extended his thanks to national media. Meanwhile, Pakistan Hosiery Manufacturers and Exporters Association (PHMA) has joined hands with chambers and trade bodies across the country in a complete industrial shutdown to protest against the controversial arrest powers granted to the FBR under Section 37AA of the Income Tax Ordinance, besides calling for final tax regime and restoration of EFS in its original form for the export industry. The nationwide strike, observed today, was held on the joint call of the Lahore Chamber of Commerce and Industry and other business groups demanding immediate withdrawal of anti-industry laws introduced through the federal budget. Zonal Chairman of PHMA Abdul Hameed, along with former chairmen Shafiq Butt and Naseer Butt, announced the closure of hosiery units as part of the countrywide strike, warning that such legislation would only deepen the crisis facing Pakistan's export-oriented sectors. The PHMA leadership said the business community could no longer stay silent while draconian laws continued to erode the confidence of investors and exporters. They said the participation of PHMA in this strike was not symbolic but a complete operational shutdown in protest against what they termed economic strangulation by the government's policies. Abdul Hameed expressed grave concern over Section 37AA, which gives FBR officers the authority to arrest businesspersons without due process or prior investigation, merely on suspicion of tax evasion. He said this law is a clear violation of constitutional rights and a serious blow to the already fragile industrial environment of Pakistan. Abdul Hameed termed it a 'black law' that legitimizes harassment of genuine taxpayers and exporters, adding that the textile and hosiery sector is already grappling with liquidity shortages, inflated utility tariffs, and a shrinking export order pipeline. PHMA former chairman Shehzad Azam Khan said their protest goes beyond just one law. He reiterated key demands of the value-added textile sector, including restoration of the normal tax regime, a reduction in the discretionary powers of FBR officials, and immediate reinstatement of the original structure of the Export Facilitation Scheme (EFS). He criticized the sudden and unexplained changes made in EFS parameters, which he said had undermined the very foundation of a system meant to support exports. By altering the EFS framework without consultation, the government has left exporters with unmanageable procedural burdens and operational uncertainty, they added. The strike call had received overwhelming support from nearly all chambers of commerce and industrial associations across the country, including Karachi, Faisalabad and Sialkot. Thousands of industrial units, large and small, remained closed for the day as a mark of protest. PHMA leaders warned that if the government failed to meet the business community's demands, the protest could enter the next phase, including indefinite closures and international complaint filings by exporters who fear losing credibility among global buyers due to erratic policymaking at home. Shafiq Butt also demanded the withdrawal of unreasonable taxes imposed on cash withdrawals and raised serious objections to the e-invoicing system that has made compliance nearly impossible for small and medium-sized enterprises. Former chairman Shafiq Butt said the government's attempt to boost revenue by criminalizing business activity is short-sighted and self-destructive. He warned that such coercive measures would push more businesses into the undocumented sector rather than increase tax compliance. Naseer Butt echoed these concerns, saying industrial output is already below 60 percent capacity in several textile zones, and any further disruptions would be disastrous for exports and employment. PHMA leaders also urged Prime Minister Shehbaz Sharif and Finance Minister Muhammad Aurangzeb to hold urgent consultations with business stakeholders instead of relying solely on bureaucratic advice. They said restoring business confidence through fair taxation, regulatory stability, and policy consultation is the only path forward. They reminded the government that Pakistan's economic recovery depends heavily on exports, and any attack on the export base is equivalent to sabotaging the country's future. Copyright Business Recorder, 2025
Business Recorder
15-07-2025
- Business
- Business Recorder
Traders vow their unwavering support to LCCI
LAHORE: The Lahore Chamber of Commerce and Industry witnessed a massive show of strength at its Traders Convention, where thousands of traders declared their unwavering support for the LCCI. Following overwhelming input from the trader community, LCCI President Mian Abuzar Shad conditionally accepted the government's offer for negotiations saying that any talks must be meaningful and solution-oriented. He said that the July 19 nationwide strike will proceed as scheduled. LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry, Former LCCI Presidents Mian Anjum Nisar, Muhammad Ali Mian, former Senior Vice President Ali Hussam Asghar, former Vice President Faheem ur Rehman Saigol, representatives of trade and industrial associations and LCCI Executive Committee Members spoke on the occasion. President LCCI Mian Abuzar Shad said that the business community has been pushed to the wall through oppressive policies. We don't enjoy going on strike. We have been squeezed to the point of compulsion. He said that when Lahore moves, the entire country follows. He condemned the imposition of Section 37AA of the Income Tax Ordinance and called it a draconian law aimed at destroying trade and industry. Dual nationals are drafting policies for this country. No wonder the economy has reached this crisis point. He said that the business community did not take these massive loans we are not liable to bear their burden. Why are the $200 billion held abroad not brought back? he questioned. Mian Abuzar warned that if even a single trader is harmed, the entire national business community will rise in protest. We will pay our taxes and we will also demand accountability for the corruption eating up our economy. Former LCCI President and SAARC Chamber Vice President Mian Anjum Nisar said that we do not want to strike but the government has left us with no choice. Doing business has become nearly impossible due to the harsh and impractical budget measures imposed by FBR. He revealed that in Lahore, FBR officials pulled guns on each other over bribery money disputes. He said that the politicians set Rs500 million corruption limit for NAB but businesspersons are arrested over suspicion of Rs50 million. Why this double standard? He warned that Section 37AA would further promote corruption and destroy economic confidence. 'There's only 5% tax in the UAE,' he added and said that here we face one-sided oppression. This won't be just a Lahore strike, Karachi, Peshawar, Sialkot and the entire nation will join. LCCI Senior Vice President Engr. Khalid Usman said that the Finance Minister had promised to incorporate the business community's suggestions into the budget but not a single proposal was implemented. He confirmed that LCCI has been in daily contact with chambers across Pakistan. This will begin with a one-day strike but if the issues remain unresolved, we will launch an indefinite nationwide protest. He said that we are open to negotiations but not for lip service, only for actual solutions. The July 19 strike will go ahead as a countrywide movement. LCCI is leading this historic effort. For the first time in Pakistan's history, there will be a nationwide shutter-down and wheel-jam strike. Copyright Business Recorder, 2025
Business Recorder
10-07-2025
- Business
- Business Recorder
LCCI says will observe nationwide strike on 19th
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has announced a nationwide strike on July 19 against Section 37AA of the Income Tax Ordinance, punitive taxes on bank transactions and Punjab's proposed labour policy deemed hostile to businesses while other Chambers of the country have assured their full support to the LCCI in this regard. The announcement was made at a Press Conference at the Lahore Chamber of Commerce and Industry. LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, Executive Committee Members Khurram Lodhi, Ahsan Shahid and Amina Randhawa also spoke on the occasion. The representatives of trade and industrial associations were also present. LCCI President Mian Abuzar Shad warned that these measures would cripple businesses, accelerate unemployment and damage investor confidence. LCCI strongly condemned the extraordinary powers granted to FBR officials, unjust treatment of the business community and policy decisions made without business consultation. The LCCI demanded an immediate withdrawal of these measures and a halt to the economic victimization of the business community. Mian Abuzar Shad said that the entire business community, including industrial and trade associations across the country, stands with the LCCI. He said that this is not the issue of a single individual or a single city but a matter that affects the livelihoods of over 250 million people in Pakistan. He questioned who would pay outrageous tax on a transaction of Rs200,000 and called such provisions irrational and unacceptable. The LCCI President highlighted the alarming fact that 21 multinational companies have already ceased their operations in Pakistan due to the hostile business climate. He also criticized the payment of over one trillion rupees to Independent Power Producers (IPPs) without a single unit of electricity production, adding that these decisions are an injustice to industrialists who are the backbone of the national economy. Referring to Section 37AA, he said that it grants FBR officers extraordinary powers, including the authority to arrest traders, which is unprecedented even at the global level. Senior Vice President Engineer Khalid Usman said that the government is crossing all red lines drawn by the business community. He warned that if businesses are forced to shutdown due to unjust regulations, the resulting unemployment will destabilize the nation. He said that the chambers across the country, including the Karachi Chamber of Commerce, are fully aligned with the LCCI's position. Executive Committee Member Khurram Lodhi demanded that the bureaucrats themselves should be audited. He questioned whether their salaries and perks are justified and whether their assets match their official income. He said it is ironic that public servants have now become rulers and are making decisions that deeply affect the lives of the business community without understanding ground realities. Aamna Randhawa said that the business community is being harassed. These policies are damaging not only to business owners but especially discouraging for women entrepreneurs. She raised serious concerns over the disconnect between the policymakers and the actual economic ground realities The LCCI President strongly rejected Section 37AA, calling it a new weapon of oppression against the business community. He said that the recent changes made through the Finance Act 2025 are impractical and harmful to the economy. He added that the ongoing campaign against the business community appears to be a deliberate move to destroy investor confidence and collapse the already fragile economy. He pointed to multiple unresolved scandals, such as Rs80 billion in solar panel over-invoicing, Rs565 billion in tax refund scams and daily corruption worth Rs4 billion. He also expressed serious concern over Punjab's proposed labour policy which spans over 300 pages, includes dangerous clauses such as reducing the employee limit for gratuity obligation from 50 to 20 and allowing immediate arrest of an employer if a worker simply claims verbally that he worked at a facility but did not receive gratuity. The policy proposes imprisonment of up to 14–15 years for such allegations. Mian Abuzar Shad warned that if this policy is approved in its current form, it will force industries to shutdown. All the participants said that the July 19 strike is not merely a protest; it is a defining moment for the economic future of Pakistan. The Lahore Chamber has taken the lead and the business community across the country is ready to follow. Copyright Business Recorder, 2025
Business Recorder
19-06-2025
- Business
- Business Recorder
LCCI rejects proposed powers to FBR to arrest businessmen
LAHORE: Senior Vice President of the Lahore Chamber of Commerce and Industry (LCCI) Engineer Khalid Usman, has categorically rejected the proposed discretionary powers to the Federal Board of Revenue (FBR), including the authority to arrest businessmen. He was speaking at the All Chambers Convention presided over by FPCCI President Atif Ikram Sheikh. Engineer Khalid Usman said that such excessive powers will not only disrupt the business environment but will also create a sense of insecurity among the business community. He said that the FBR already possesses significant powers and any further addition, especially the power to arrest, would severely damage business confidence in the country. He urged the government to simplify and rationalize the taxation system to encourage more people to voluntarily enter the tax net instead of creating an atmosphere of fear and intimidation. The business community is the backbone of the national economy and ignoring their concerns is neither wise nor productive. Copyright Business Recorder, 2025
Business Recorder
14-06-2025
- Business
- Business Recorder
LCCI terms Israeli attack on Iran as violation of int'l laws
LAHORE: The Lahore Chamber of Commerce & Industry strongly condemned the Israeli attack on Iran and termed it a grave violation of international laws and a serious threat to regional and global peace. In a statement, LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry expressed deep concern over the escalation of Israeli military actions and stressed the urgent need for the international community to take notice and act decisively. They said that the unprovoked attack on Iran is not only a blatant breach of international law and the UN Charter but also a dangerous provocation that threatens the delicate balance of peace in the Middle East. 'We at the Lahore Chamber of Commerce & Industry stand in absolute solidarity with the government and people of Iran during this critical and painful time', they added. The LCCI office-bearers said that such acts of aggression are unacceptable under all circumstances and particularly alarming when they come from a state that has repeatedly defied global norms and used military force to destabilize the region. This attack represents an escalation that could spiral into a larger conflict, with devastating consequences for millions. Copyright Business Recorder, 2025
