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Business Recorder
12-07-2025
- Business
- Business Recorder
Policy sans input from stakeholders
EDITORIAL: The industrial sector has been in a steady decline for nearly three decades, and a revival plan was always going to be essential, not optional. That the government has finally approved a 10-year industrial policy aimed at reversing this decline deserves recognition. With clear emphasis on revitalising sick units, supporting SMEs, cutting corporate tax rates, and amending outdated laws, the blueprint touches the right pressure points. The introduction of sub-committees to fast-track implementation adds a layer of seriousness that has often been missing from similar announcements in the past. But even a robust policy loses steam when key stakeholders are left on the sidelines. That's why the Pakistan Business Council's (PBC's) response raises an important question: how can a national industrial revival plan, meant to benefit the country's largest manufacturers, exclude their formal input from the outset, especially when the PBC itself has long advocated for such a policy, and has provided extensive research and strategic recommendations under its Make-in-Pakistan framework? According to the Council, the government not only failed to share the draft policy with it before approval, but also left it out of most of the sub-committees tasked with shaping and implementing this roadmap. Instead, those seats have largely gone to trader representatives, prompting concerns that the exercise might be tilted more toward short-term commercial interests than long-term industrial development. This disconnect is not a trivial oversight. PBC represents nearly 100 of the country's most influential local and multinational businesses, accounting for around 40 percent of exports and employing millions through formal value chains. Excluding this pool of expertise from deliberations weakens the very foundation of the policy it seeks to build. If industrial revival is the stated goal, surely those driving the bulk of industrial output must have a seat at the table? The government's sense of urgency is understandable. The industrial sector has been in contraction for far too long, and with exports struggling, stabilising the economy demands an immediate course correction. Haroon Akhtar Khan, the prime minister's special assistant on industries, is right to say the policy has the potential to usher in an industrial revolution. But revolutions don't happen by committee alone. Especially, not ones that bypass the most qualified partners. It's also worth scrutinising the sheer volume of committees created — eight for recommendations, ten for implementation, and presumably more to come for review and oversight. That sounds impressive on paper. But if the architecture becomes more about appearances than function, and if it fails to channel expert insight into actionable reform, then it risks turning into a well-intentioned exercise bogged down in inefficiency. And while the inclusion of progressive reforms — like better credit access for SMEs, early detection of industrial distress, and legal amendments to encourage investment — is promising, the long-term success of these measures will hinge on the quality of their execution. Which brings the focus right back to stakeholder inclusion. Without it, even the best-drafted policy becomes a top-down directive with limited buy-in. The PBC has not rejected the policy — far from it. It has welcomed its direction and supported many of its goals. Its disappointment lies not in the policy's ambition, but in its process. That makes it all the more critical for the government to now make amends. Revisiting the composition of the implementation committees and integrating PBC into the effort would not only signal openness to course correction but also strengthen the credibility of the policy itself. If this policy is to live up to its promise of an industrial revival, then it must be anchored in both expertise and execution. That means harnessing the institutions that have the capacity, data, and networks to turn vision into results; anything less, the country risks adding yet another document to the growing shelf of unrealised economic plans. Copyright Business Recorder, 2025
Business Recorder
02-07-2025
- Business
- Business Recorder
Unlocking Pakistan's Logistics Potential on National Logistics Day
TEXT: As we mark National Logistics Day, it is time to reflect on the backbone of Pakistan's economy — the logistics and transportation sector — and to chart a path forward. Currently, this sector contributes over 12% of GDP and employs 6% of the country's workforce, handling 98% of Pakistan's transportation needs. Yet, despite its significance, Pakistan's road logistics sector is mired in inefficiency, underinvestment, and outdated governance frameworks. The latest Pakistan Business Council (PBC) report 'Pakistan Road Logistics, Challenges, Opportunities and Policy Response'-2025 paints a sobering picture: Pakistan's Logistics Performance Index (LPI) has dropped from 2.42 in 2018 to 2.3 in 2025, ranking far behind regional countries India (rank 44), Iran (100), and Bangladesh (64). The above report echoes the same policy recommendations as detailed in this article in its 'Prioritized Recommendations'. The lack of an integrated national transport policy and a dedicated Ministry of Transport and Logistics has hampered coordinated action. Responsibilities are fragmented across federal, provincial, and quasi-government entities, leading to poor planning and execution. This structural weakness allows informal operators, backed by politically influential sectors to evade regulations — further distorting the market and discouraging formal players. In the PBC Report: 'Dedicated Ministry or Focal Authority for the Logistics Sector: It is important to realize that logistics is an interconnected sector, and one mode is not independent of the other. Therefore, a focused approach is required to help the sector grow. One glaring issue is the non-implementation of Axle Load regulations. Overloading is a major cause of premature road infrastructure failure and road accidents. The World Bank estimates that road accidents cost Pakistan 4.5% of GDP, equivalent to $12.5 billion annually. Strict enforcement of Axle Load laws, including vehicle impoundment and cargo seizure for violations, is essential to safeguard both infrastructure and lives. In the PBC Report: 'Axle Load Enforcement: 1) Strengthen Regulations: Enforce axle load limits uniformly across all regions to minimize road damage and extend infrastructure lifespan. 2) Monitoring and Penalties: Implement weighbridges equipped with automated systems for accurate load monitoring and impose strict penalties for violations'. Despite the best intentions, investments in Pakistan's motorways have largely failed to deliver their intended economic benefits. Many motorways built under BOT arrangements either prohibit overloaded trucks—to protect the infrastructure for which investors are liable—or allow such vehicles, resulting in severe damage and escalating repair costs (major maintenance now required in the second year, instead of the seventh). The motorway network has thus become a white elephant, unable to service its debts or justify the public and private investments made. Motorways cannot be financially viable on passenger traffic alone. Their full commercial and economic potential depends on carrying freight traffic. Yet freight operators avoid these roads, preferring to run overloaded on national highways where axle load limits are not enforced—causing massive damage to both highway infrastructure and the public exchequer. Another pressing need is the modernization of Pakistan's trucking fleet. With only 300,649 registered trucks — compared to India's 12.5 million — the sector suffers from outdated, fuel-inefficient vehicles that raise costs, emissions, and road safety risks. The PBC recommends developing green financing tools to support fleet renewal with Euro-5 compliant and electric vehicles, a move that would also align with emerging global climate regulations like the EU Green Deal. In the Pakistan Business Council Report: 'Fleet Modernization and Financing: Expand Access to Credit: Develop low-interest loan schemes and financial products tailored to small and medium-sized operators, enabling them to upgrade their fleets'. The logistics firms are under immense pressure of excessive rate of taxes, the federal government's recent decision in the 2025-2026 budget to increase the withholding tax on logistics services from 4% to 6%. The 6% on revenue translates to more that 50% of the thin profit margin in this sector. Normal tax rate for companies is about 29% of the profit in Pakistan for other businesses. Even 4% was excessive than 29%. This decision, if implemented, will deal a devastating blow to the service sector — particularly to an already struggling goods transport industry that plays a critical role in Pakistan's economy. This increase will push small and medium-sized transporters out of the formal tax net in a desperate attempt to keep their businesses afloat. This will inevitably undermining both government revenue collection and the rule of law. Roadside security is another concern. Roadside robberies and thefts pose serious risks, particularly in key bottleneck areas. The government must step up security patrols and protect the lifelines of our economy. The path forward is clear: • Enforce Axle Load limits strictly • Provide targeted green financing for fleet upgrades • Establish a unified Ministry of Transport and Logistics to drive reforms • Set a supporting Rate of Tax to logistics, similar to other businesses and industries. By tackling these issues with urgency, Pakistan can transform its logistics sector into a regional powerhouse — supporting exports, creating jobs, and enhancing national competitiveness. On this National Logistics Day, let us commit to unlocking the sector's full potential. RanaAsimShakoor Chairman, FOAP Copyright Business Recorder, 2025
Business Recorder
01-07-2025
- Business
- Business Recorder
PBC appoints Javed Kureishi as new CEO
KARACHI: The Pakistan Business Council (PBC) board has announced the appointment of Javed Kureishi as its new Chief Executive Officer. Kureishi is a seasoned Citibanker with 34 years of leadership experience across Pakistan, Egypt, South Africa, the Czech Republic, the UAE, and Singapore. He has held senior regional roles across Asia, the Middle East, Eastern Europe, and Africa and is an expert in emerging market strategy, stakeholder engagement, and policy advocacy. According to the announcement, the PBC board of directors unanimously selected Javed Kureishi as the new Chief Executive Officer, effective July 11, 2025. The Board of Directors of PBC also extended its heartfelt appreciation to the outgoing CEO, Ehsan Malik, for his leadership and commendable service over the past ten years. During his tenure, Malik significantly strengthened PBC's position as a leading voice for the formal business sector and progressive economic policy in Pakistan. His efforts advanced stakeholder engagement and reinforced the organization's commitment to responsible business practices. Javed Kureishi currently sits on the boards of KElectric, PIA Holding Co, Fauji Food, Pakistan Oxygen Ltd, Samba Bank, Lucky Electric, and Tricon Boston, with prior directorships at the Pakistan Stock Exchange, Power Cement, Naya Nazimabad, the Pakistan Cricket Board, Sindh Infrastructure Development Co Ltd, and Pakistan Corporate Restructuring Co Ltd and served as Senior Consultant to IFC Pakistan. Copyright Business Recorder, 2025
Sharjah 24
30-06-2025
- Business
- Sharjah 24
Khorfakkan Mango Festival concludes on high note
This year's edition achieved remarkable success, attracting over 20,000 visitors from within and beyond the UAE, a 100% increase in attendance, and generating more than AED 1 million in total sales. It featured the participation of more than 40 local farmers and several agriculture and fertilization companies. Delegations from Saudi Arabia, Oman, Pakistan, and Uganda further highlighted the event's expanding international presence. The festival showcased more than 150 premium mango varieties and provided a unique opportunity for visitors to explore Khorfakkan's and the Eastern Region's leading agricultural outputs. It also attracted strong participation from productive families, along with local, regional, and international exhibitors. Their presence created an ideal platform for networking and knowledge exchange around best practices in mango farming and agribusiness innovation. Khalil Mohammed Al-Mansouri, Director of Expo Khorfakkan, noted that the Mango Festival has solidified its status as one of the UAE's leading agricultural and heritage-themed events. He emphasised its growing role in raising community awareness about the importance of the agricultural sector in achieving sustainable development, ensuring food security, and preserving the UAE's cultural heritage for future generations. Delegates from Saudi Arabia, Oman, Pakistan, and Uganda highlighted that the festival offered valuable opportunities for knowledge exchange among mango farmers. It served as an ideal platform to explore diverse experiences in cultivating mango trees across various environments, as well as methods for improving yield and utilizing mangoes in different food industries. For his part, Mohammed Al Darmaki, Head of the Coordination and Follow-Up Committee of the Mango Festival, stated that the committee worked diligently to turn the festival's vision into comprehensive operational plans. He highlighted efforts to streamline participation for farmers and home-based producers, while enhancing the overall visitor experience. He added that the committee continues to track feedback and outcomes to ensure the festival's long-term success as a strategic platform for developing mango and crop cultivation, thereby reinforcing Khorfakkan's position as an agricultural and tourism destination. Meanwhile, Dr. Syed Muhammad Tahir, Chairman of the Pakistan Business Council, expressed his appreciation for Pakistan's participation, saying: 'We are proud to take part in this outstanding event, which reflects the UAE's commitment to agricultural and food development'. 'The festival offered Pakistani mango growers and agribusiness stakeholders a platform to engage with regional and international counterparts, gain insight into cutting-edge mango cultivation technologies, and explore new avenues for agricultural collaboration and investment between Pakistan and Sharjah's business communities,' he added. The Mango Festival 2025 was held in strategic partnership with the Kalba-based Al Sharqiya TV, the Sharjah Commerce and Tourism Development Authority (SCTDA), the Sharjah Institute for Heritage (SIH), Bee'ah, and the Department of Social Services. It featured a diverse lineup of activities and events, including live heritage-themed performances and expert-led agricultural workshops on advanced farming techniques, mango tree care, modern irrigation, fertilization, pruning, and pest control practices. These sessions helped raise awareness among visitors and farmers alike and encouraged the adoption of smart farming practices to enhance crop productivity and quality. This year's edition fostered a dynamic and engaging competitive atmosphere, with farmers presenting their highest-quality mango varieties. It featured lively competitions like 'Best Farmer's Display,' 'Mango Mazayna' (Most Beautiful Mango), 'Largest Mango', 'Most Beautiful Mango Basket' for families and a children-focused 'Best Agriculture-themed Video' competition. The festival awarded valuable prizes to winners of its competitions and gave visitors a chance to win through daily raffle draws featuring a variety of rewards and giveaways. It also featured a vibrant lineup of interactive events and live cultural shows, where Emirati folk ensembles showcased traditional performances that highlighted the UAE's rich cultural legacy. These elements fueled excitement and visitor engagement over the festival's three-day run. Furthermore, a large space was dedicated to family-friendly and hands-on activities, where visitors of all ages explored educational and experiential zones, fostering a deeper appreciation for agriculture and sustainability.
Khaleej Times
26-06-2025
- Business
- Khaleej Times
Pakistan Business Council Dubai hosts successful annual general body meeting
Pakistan Business Council (PBC) Dubai hosted its Annual General Body Meeting (AGM) 2025 to highlight the Council's achievements during the year, its valuable contributions to the community, and the roadmap for future initiatives. The AGM, which was held under the chairmanship of Shabbir Merchant at a local hotel in Dubai, saw a large gathering of prominent members from the Pakistani business community who exchanged views during the traditional networking session. It commenced with recitation of the Holy Quran and followed by the national anthems of the United Arab Emirates and Pakistan. Chairman of PBC Dubai, Shabbir Merchant, formally opened the meeting by welcoming all esteemed guests and members. He highlighted the Council's major milestones achieved during the year and presented the future plans to strengthen PBC Dubai as a representative of the Pakistani community in the UAE. 'Today's AGM marks not just a review of our achievements, but a reaffirmation of our shared vision for progress. At Pakistan Business Council, we are proud of the strides we've made in fostering business collaboration, promoting Pakistani interests globally, and supporting our members through strategic initiatives. Together, we will continue to elevate our impact and drive meaningful change," Merchant said. The chairman also outlined a forward-looking vision, focusing on modernising trade practices and empowering the Pakistan business community to strengthen UAE-Pakistan economic ties. Vice-Chairman Kamran Ahmad Riaz presented a detailed report on the Council's general activities launched in 2025 and noted active participation of the business community. Vice-Chairman Events & Media, Iftikhar Ali Tatlah delivered a comprehensive overview of events, media presence, the official website, YouTube channel, and newsletters. In his remarks, Iftikhar Ali Tatlah emphasised that the media platform of Pakistan Business Council Dubai is more than just an information source as it represents the passion, professionalism, and deep connection of the community with Pakistan. He further announced that a grand gala dinner and awards show will be held at the end of 2025, recognising and celebrating the contributions of Council members and partners. Vice-Chairman Finance Mr. Noor Kareem Afridi presented the annual financial report, highlighting the Council's transparent financial practices and fiscal performance during the year. Secretary-General Khurram Khawaja introduced the new features of the Council's mobile application, outlining the modern digital services, membership tools, and enhancements made available to members. The meeting also included an interactive Q&A session, where members offered suggestions, raised queries, and shared their perspectives, all of which were appreciated and taken into serious consideration by the board. Distinguished figures from the Pakistani business community who attended the event included Muhammad Iqbal Dawood, Mustafa Hemani, Rashid Ashraf, Abdul Rasheed Chughtai, Saleem Tabani, Iqbal Tabani, Sultan Mahmood, Ejaz Ahmed, Muhammad Naeem, Irfan Ahmad Riaz, Mustafa Altaf, Makhdoom Raees Qureshi, Ashraf Gul, Ali Rao, Nafees Ahmad, Aziz Ali Akbar, Tabish Zaidi, Syed Saleem Akhtar, Muhammad Shoaib, Shazil Merchant, and Sohail Amir Ghumman, among others. Among the distinguished women members in attendance were Anam Baqai, Sadia Abbasi, and Hina Naeem, among others. Newly inducted members were formally welcomed and awarded official membership certificates. These included Tahir Naqash, Muhammad Ali Abdul Ghaffar, Khizr Mehdi, Muhammad Nauman Khan, Abdul Raheem, Shafiq Hussain, Muhammad Ali Nagi, and Naveed Mushtaq. The event concluded with a dinner, offering guests an opportunity for meaningful dialogue and fostering stronger business and community ties. The annual general body meeting 2025 of Pakistan Business Council Dubai was not merely a formal gathering — it stood as a testament to the unity, progress, and unwavering commitment of the Pakistani business community in the UAE.
