Latest news with #NorthKarachiAssociationofTradeandIndustry
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
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
Business Recorder
03-05-2025
- Politics
- Business Recorder
NKATI holds rally against Modi's actions
KARACHI: The office-bearers and members of the North Karachi Association of Trade and Industry (NKATI), led by President Faisal Moiz Khan, took to the streets to express solidarity with the Pakistan Army and protest against the anti-Pakistan actions of the Indian Prime Minister Narendra Modi. On Friday, a large rally organized by NKATI witnessed hundreds of industrialists actively participating in a strong demonstration against India and in support of Pakistan's armed forces. Prominent industrialists including Noor Ahmed Khan, Imran Moiz Khan, Akhtar Ismail, Ahmer Lone, Azfar Hussain, Yasir Ali, Naeem Haider, Iftikhar Ahmed Malik, and others were present. The rally was led by NKATI President Faisal Moiz Khan, who firmly rejected the Indian allegations against Pakistan. Participants in the rally chanted powerful slogans such as 'Long Live Pakistan Army' and 'Death to India.' Addressing the gathering, Faisal Moiz Khan said that the entire nation stands united with its brave armed forces and that any aggression from the enemy will be met with a fitting response. Faisal Moiz Khan further stated that India has leveled baseless allegations of terrorism against Pakistan, which are not accepted by the international community. He also expressed deep concern over the potential suspension of the Indus Waters Treaty, stating that any attempt to use water as a weapon would threaten the peace and stability of the entire region. Industrialists, traders, and other participants strongly rejected India's accusations and expressed unwavering support for the Pakistan Army. 'We reject Indian propaganda. Our army not only protects our borders but is also the pride of the entire nation,' they said. This gathering by the business community sends a clear message against India's anti-Pakistan propaganda. Copyright Business Recorder, 2025
