Latest news with #NKATI
Business Recorder
21-07-2025
- Business
- Business Recorder
President NKATI praises KCCI for organising successful protest
KARACHI: President of the North Karachi Association of Trade and Industry (NKATI), Faisal Moiz Khan has appealed to Prime Minister Mian Shehbaz Sharif and Field Marshal General Syed Asim Munir to assist in resolving the issues of the business community through their genuine representatives and with written assurances, so that the wheels of national industry can move forward without fear, and export consignments continue uninterrupted. He demanded the reinstatement of the Final Tax Regime for exporters. He expressed his gratitude to the leadership of the Karachi Chamber of Commerce and Industry (KCCI) for organizing a highly successful strike on the appeal of KCCI President Muhammad Javed Bilwani. He said this peaceful protest was a powerful way to make the government hear the voice of the business community. The unanimous protest was against the oppressive, unrealistic, and business-unfriendly tax measures imposed through the Finance Act 2025–26. He paid heartfelt tribute to the KCCI leadership for the historic success of the strike held on Saturday, July 19. Faisal Moiz Khan stated that the business community had repeatedly conveyed its concerns to the government and also submitted positive suggestions through the Karachi Chamber. Unfortunately, those suggestions were not taken seriously. He particularly criticized sections 37A and 37B of the Income Tax Ordinance, which give authorities the power to arrest taxpayers and initiate cases without due legal process—an act he described as completely unjust and a means of creating a climate of fear. Additionally, he condemned the harsh penalties on cash transactions under Section 21(s), which remain a common business practice in Pakistan. Faisal Moiz Khan added that, shaken by the impact of the strike, certain government representatives and bureaucrats have launched campaigns against KCCI President Javed Bilwani, prominent trader leader Zubair Motiwala, and Lahore Chamber President Abu Zar Shad. Copyright Business Recorder, 2025
Business Recorder
16-06-2025
- Business
- Business Recorder
Sindh needs liberal industrial policy: NKATI
KARACHI: Commenting on the Sindh budget, North Karachi Association of Trade and Industry (NKATI) President Faisal Moiz Khan stated that the province of Sindh needs a liberal industrial policy. He suggested that budgetary allocations should be made for all seven industrial zones of the city. The NKATI President emphasized the need for a Combined Effluent Treatment Plant, describing it as essential for the industry. He also urged that all seven industrial zones of Karachi should be included in the Safe City Project. Faisal further called for the immediate construction of the Hyderabad-Sukkur Motorway, highlighting that the project would enhance economic connectivity throughout Sindh, including Karachi. Despite its estimated cost of approximately Rs. 144 billion, it is surprising that the federal government has allocated only Rs. 15 billion for the project, which he said reflects the federal government's lack of attention to development projects in Sindh. He also criticized the Sindh Revenue Board (SRB), calling it a hub of corruption, and stressed that the issue must be addressed. Lastly, he urged that development projects be launched immediately to rapidly improve Karachi's deteriorating infrastructure. Copyright Business Recorder, 2025
Business Recorder
26-05-2025
- Politics
- Business Recorder
NKATI organises rally in solidarity with armed forces
KARACHI North Karachi Association of Trade and Industry (NKATI) organized a rally in the industrial area to show solidarity with the Pakistan Army and to celebrate the conferring of the title of Field Marshal on Army Chief General Syed Asim Munir. The rally was led by NKATI President Faisal Moiz Khan. Thousands of industrialists participated in the rally, expressing their solidarity with the Pakistan Army and raising slogans congratulating the Field Marshal. Prominent industrialists such as Imran Moiz Khan, Akhtar Ismail, Shehzad Elahi, Shahid Ansari, Ahmer Lone, Azfar Hussain, Yasir Ali, Naeem Haider, and others were present. During the rally led by NKATI President Faisal Moiz Khan, participants loudly chanted slogans like 'Long live Pakistan Army' and 'Down with India.' Addressing the rally, NKATI President Faisal Moiz Khan stated that the entire nation stands with its brave armed forces, and the title of Field Marshal awarded to Army Chief Asim Munir is not only a matter of pride for the business community but also for the entire nation. Faisal Moiz Khan further said that despite being repeatedly humiliated, India has not learned its lesson. He accused India of cowardly attacks, stating that a bomb blast targeting an Army Public School bus in Khuzdar resulted in the martyrdom and injury of children. He challenged Indian Prime Minister Modi, warning him to come to his senses and declaring that Modi's nefarious plans will soon be destroyed. He chanted slogans in favour of the Pakistan Army and stated that our army is the guardian of our borders, and the entire Pakistani nation is proud of its armed forces. Copyright Business Recorder, 2025
Business Recorder
22-05-2025
- Politics
- Business Recorder
Business community congratulates COAS on promotion
KARACHI: Business and industrial community have extended heartfelt congratulations to Army Chief General Asim Munir on Promotion to Field Marshal Rank. The President of the Korangi Association of Trade and Industry (KATI), Junaid Naqi, has extended heartfelt congratulations to Chief of Army Staff General Syed Asim Munir on his elevation to the prestigious and highest military rank of Field Marshal. 'The promotion to Field Marshal is a historic moment. Army Chief Asim Munir becomes only the second military leader in Pakistan's history to be conferred this highest honour, reflecting the will and admiration of the people,' said Naqi. He noted that the successful execution of recent military operations 'Operation Haq' and 'Bunyan-um Marsoos' under Field Marshal Asim Munir's command were strategically remarkable and instrumental in uniting a divided nation. 'His elevation to Field Marshal is well-deserved recognition of his exceptional military leadership, strategic vision, and unwavering commitment to national defence during some of the most critical challenges in our history.' Naqi further stated that Field Marshal Munir's leadership had not only ensured tactical victories on the battlefield but also enhanced Pakistan's image on the global stage. 'His guidance during difficult times has dealt severe blows to adversaries and raised the morale of the nation,' he said. He commended the valour of every soldier who took part in Operation Haq, emphasizing that from the army chief to the frontline troops, all showed immense bravery and gave a strong response to cross border aggression. 'The courage and sacrifices of our armed forces have been recognized globally, and this historic promotion sends a clear message to our enemies.' Junaid Naqi also welcomed the announcement of top civil awards for the martyrs and veterans of Operation Haq, saying, 'Nations that honour their heroes never fade. Recognizing these brave souls is both timely and necessary.' Expressing optimism, the KATI President concluded, 'We are confident that under the leadership of Field Marshal Asim Munir, the Pakistan Armed Forces will achieve even greater stability and success, and continue to safeguard the nation's integrity and future.' The President of North Karachi Association of Trade and Industry (NKATI), Faisal Moiz Khan, along with NKATI members Shabbir Ismail, Naeem Haider, Akhtar Ismail, Ahmer Lone, Farooq Khatoora, Asghar Hussain, Younus Khameesani, Tariq Rasheed, and Syed Yasir Ali paid tribute to General Syed Asim Munir, who has become the second Field Marshal in Pakistan's history and the first ever during a democratic era after 66 years. They stated that this is not only an honour for General Asim Munir but also a great achievement for the entire nation, especially the business community. Faisal Moiz Khan, President of NKATI, remarked that the promotion of General Syed Asim Munir to the rank of Field Marshal is more than a military honour; it is a national tribute to a leader who remained steadfast and demonstrated remarkable performance during one of the most critical periods in Pakistan's history. He stated that during the recent conflict with India, General Asim Munir's decisive leadership elevated Pakistan's stature and earned it unmatched respect and dignity on the international stage. He added that on the night of May 7, 2025, India launched an unprovoked and unjustified military attack, violating Pakistan's sovereignty. In that dark hour, General Asim Munir led the defense of the country with unparalleled courage, bravery, clarity of thought, and determination. He initiated the military operation after Fajr prayer and concluded it successfully by Asr prayer. Under his command, the armed forces responded swiftly, cohesively, and with great readiness, effectively neutralizing the enemy's objectives and ensuring the defense of Pakistan's territorial integrity. Faisal Moiz Khan said that the honour of being named Field Marshal is a collective acknowledgment by the government, the cabinet, and the entire nation of General Syed Asim Munir's exemplary courage in uniting all three branches of the armed forces under a unified war strategy; leading to a historic and dignified victory. NKATI officials and members also appreciated the decision to extend the services of Air Chief Marshal Zaheer Babar Sidhu even after the completion of his term, and they congratulated him on this well-deserved continuation. President of the Pakistan Business Forum (Karachi Region), Malik Khuda Bakhsh, congratulated Chief of Army Staff General Syed Asim Munir on his promotion to the rank of Field Marshal, and Air Chief Marshal Zaheer Ahmed Babar Sidhu on the extension of his tenure. He stated that General Asim Munir has achieved this distinguished position through his hard work, professional expertise, and immense capabilities. He said that the effective planning, strategy, and success of Operation Bunyan al-Marsus, especially during the war against India, is a historic achievement of Field Marshal Asim Munir. Pakistan's great commander, General Syed Asim Munir, secured a historic victory in the recent Pakistan-India war. The rank of Field Marshal is recognition of his dedicated services for the defense of the nation. He further stated that the entire nation, including the business community, values and appreciates the services of Field Marshal Syed Asim Munir for the protection of national security and sovereignty. They are confident that under his leadership, the Pakistan Army will reach new heights and achieve further successes. Malik Khuda Bakhsh emphasized that General Syed Asim Munir's promotion to Field Marshal is not just an honour, but also a gesture of gratitude from the nation for his unforgettable services, which have raised Pakistan's flag high across the world. He said that Air Chief Marshal Zaheer Ahmed Babar Sidhu has taken Pakistan's air defense to new heights and created a new history. Due to his successful military strategies, Pakistan has dealt heavy blows to the enemy, enhancing the prestige and honour of the Pakistan Air Force globally. Today, Pakistan's defense is impregnable, and the entire nation pays tribute to the armed forces. Copyright Business Recorder, 2025
Business Recorder
07-05-2025
- Business
- Business Recorder
NKATI President rejects promulgated tax laws
KARACHI: Faisal Moiz Khan, President of the North Karachi Association of Trade and Industry (NKATI) has strongly rejected the recently promulgated Tax Laws (Amendment) Ordinance 2025, criticizing it for being issued without consultation with stakeholders or any debate in Parliament. He warned that this amended ordinance could lead to the destruction of the country's economy. Expressing deep concern over the ordinance, Faisal Moiz Khan said the move undermines the sanctity of judicial decisions, violates taxpayers' constitutional right to due process, and promotes a coercive tax regime. He stated that the ordinance grants the Federal Board of Revenue (FBR) excessive powers, allowing it to immediately freeze bank accounts, confiscate properties, and seal factories without any prior notice or warning—even after a decision has been made by a higher court. He described this as a blatant insult to the Constitution, the judiciary, and economic freedom. He further pointed out that the ordinance was implemented without consulting key stakeholders and without parliamentary debate, which has eroded the business community's trust and compromised the rule of law. He expressed specific concern over Sections 138(3A) and 140(6A) of the Income Tax Ordinance, which, despite relief granted by the courts, nullify judicial decisions and declare disputed tax liabilities as immediately recoverable—thus violating taxpayers' right to a fair defence. The NKATI President demanded the immediate withdrawal of the ordinance and urged the government to engage in meaningful dialogue with elected representatives and industry stakeholders before implementing such measures. "We support fair taxation and documentation of the economy," he stated, "but we categorically reject any legal actions that, under the guise of enforcement, target legitimate businesses while bypassing constitutional and legal procedures." He also appealed to the President of Pakistan and the Ministry of Law and Justice to uphold constitutional principles and to prioritize dialogue over authoritarian ordinances that could further damage Pakistan's already fragile business environment. Copyright Business Recorder, 2025
