Latest news with #LahoreChamberofCommerceandIndustry
Business Recorder
19-07-2025
- Business
- Business Recorder
Resolve issues ‘immediately', LCCI chief tells govt
LAHORE: A nationwide shutter-down has been announced across the country Saturday as the business community intensified its protest against government indifference. Mian Abuzar Shad, President of the Lahore Chamber of Commerce and Industry (LCCI), while addressing a hurriedly-called press conference said if their issues are not resolved immediately, the ongoing negotiations will completely fail. He further stated that after being consistently ignored by the government, the business community has taken this major decision. LCCI President Mian Abuzar Shad announced his active participation in the protest movement, with Senior Vice President Engineer Khalid Usman and Vice President Chaudhry Shahid Nazeer also showed their solidarity with the business community. The movement has received strong backing from the Patron-in-Chief PIAF Anjum Nisar who also assured full support to the trader community. Ali Hussam Asghar, Chairman of the Pioneer Businessmen Group, has also pledged his support, declaring that all of Lahore and Pakistan stands united with the business community. The traders have made it clear that they no longer want promises—they demand concrete action. In a final warning to the government, they declared, 'Provide relief, or the strike continues! The business community's resolute message is clear: if their demands are not addressed promptly, the protest movement will escalate further. Earlier, Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has announced that there will be no strike anywhere in the country today. Addressing a press conference after a special committee meeting in the federal capital, Sheikh stated, 'Chambers of commerce from across Pakistan are united in not calling for a strike. While some members were initially upset, today's meeting has brought everyone on the same page.' He emphasized that the FPCCI's role is to act as a bridge between the business community and the government. 'The government has attentively listened to the concerns of the business community during today's meeting. Following consultations, it has shown flexibility on contentious clauses in the Finance Bill and the Sales Tax Act,' Sheikh explained. The FPCCI chief further revealed that the government has agreed to withdraw the disputed provisions after acknowledging the business community's demands. 'All concerns raised by the business community have been accepted. The meeting's recommendations will now be presented to the Prime Minister for final approval,' he added. Sheikh categorically stated, 'In light of today's decisions, no strike will take place anywhere in Pakistan tomorrow. If any individual has called for a protest, it is in their personal capacity and does not represent the business community.' 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
12-07-2025
- Business
- Business Recorder
Kamal hails LCCI for promoting trade, export
LAHORE: Federal Minister for Commerce Jam Kamal Khan has acknowledged and appreciated the vibrant role of the Lahore Chamber of Commerce and Industry (LCCI) in promoting trade and export growth. In a letter to LCCI President Mian Abuzar Shad, the Commerce Minister has expressed sincere gratitude for the Chamber's continued engagement and long-standing commitment to advancing Pakistan's trade and economic agenda. The Ministry of Commerce underscored the significance of LCCI as a key partner in shaping inclusive and responsive trade policies. The Commerce Minister has directed the TDAP to ensure regular engagement with LCCI through formal consultations and periodic visits. This directive underscores the Ministry's intent to enhance region-specific responsiveness through consistent dialogue and structured coordination. Copyright Business Recorder, 2025
Express Tribune
11-07-2025
- Business
- Express Tribune
Chambers announce strike against Section 37AA
Listen to article 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. Other chambers of commerce of the country, including the Karachi Chamber of Commerce, have assured their full support to the LCCI. The announcement was made at a press conference at the Lahore Chamber. Representatives of trade and industrial associations were also present on the occasion. LCCI President Mian Abuzar Shad warned that those measures would cripple businesses, accelerate unemployment and damage investor confidence. The chamber strongly condemned the extraordinary powers granted to Federal Board of Revenue (FBR) officials, unjust treatment of the business community and policy decisions made without business consultation. It demanded immediate withdrawal of those measures and a halt to economic victimisation of the business community. Abuzar Shad said that the entire business community, including industrial and trade associations from across the country, stands with the LCCI. He stressed that it was not the issue of a single individual or a single city but a matter that affects livelihoods of millions of people. He questioned who would pay the "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 had already ceased their operations in Pakistan due to the hostile business climate. He also criticised the payment of over Rs1 trillion to independent power producers (IPPs) without a single unit of electricity production, adding that such decisions were an injustice to industrialists, who are the backbone of the national economy. Referring to Section 37AA, he pointed out that it grants FBR officers extraordinary powers, including the authority to arrest traders, which is unprecedented even at the global level. LCCI Senior Vice President Engineer Khalid Usman said that the government was crossing all red lines drawn by the business community. He warned that if businesses were forced to shut down due to unjust regulations, the resulting unemployment would destabilise the nation. He said that chambers from across the country, including the Karachi Chamber, were fully aligned with the LCCI's position. Executive committee member Khurram Lodhi demanded that bureaucrats themselves should be audited and questioned whether their salaries and perks were justified and whether their assets match their official income. "It is ironic that public servants have become rulers and are making decisions that deeply affect lives of the business community without understanding ground realities," he said.
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
