Latest news with #RehanNaseemBharara
Business Recorder
14 hours ago
- Business
- Business Recorder
Trade with Uzbekistan: FCCI says issues related to banks can be resolved on priority basis
FAISALABAD: Banks related issues could be resolved on top priority basis to give a quantum jump to the bilateral trade between Uzbekistan and Pakistan, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI). In a meeting with Sarvar Abdirakhimov, Second Secretary Embassy of the Republic of Uzbekistan, they discussed diverse issues relating to agriculture, textile, towel, hosiery, surgical goods and cutlery etc. President FCCI said that Uzbek Ambassador Alisher Tukhtayev was kind enough to allow the issuance of visas to the local businessmen on the recommendation of FCCI on his personal request while Uzbek Airways was also operating three weekly flights between Pakistan and Uzbekistan. He said that middle men were exploiting the current situation due to the non-availability of proper and direct banking channels between the two countries. He said that the governments of two countries must remove these hurdles to streamline and enhance the direct trade between Pakistan and Uzbekistan. Rehan Naseem said that he has extended an invitation to Alisher Tukhtayev, Ambassador of Uzbekistan to visit FCCI at a time and date convenient to him. Sarvar Abdirakhimov said that his government was offering excellent opportunities and incentives to the potential investors. He said that land would be provided particularly to the potato growers in Uzbekistan. He said that his country was also interested in enhancing cooperation with Pakistani investors in the fields of leather and meat processing etc. He said that the Uzbek President is also expected to visit Pakistan which would help in resolving the current issues at the top level. He said that a 'Made in Pakistan Expo' was held in June last year and this practice could be repeated to showcase and introduce Pakistani products in the Uzbek markets. Qaisar Shams Gucha, SVP offered vote of thanks while President Rehan Naseem Bharara decorated Sarvar Abdirakhimov with a special 'Pin' to mark the 50 Year Golden Jubilee Celebrations of FCCI. He also presented him FCCI shield and gifts. Sarvar Abdirakhimov also reciprocated by presenting a traditional dagger of his country to the President FCCI. Copyright Business Recorder, 2025
Business Recorder
4 days ago
- Business
- Business Recorder
FIA, FCCI agree to resolve issues facing traders
FAISALABAD: The Federal Investigation Agency (FIA) and Faisalabad Chamber of Commerce & Industry (FCCI) would make collaborative efforts to resolve the FIA-related issues of the business community, said Malik Sikandar Hayat, Director FIA. Addressing the business community, he said that different laws including smuggling have been changed on the guideline of FATF while beggary had also been included in the mandate of FIA. He said that data has been digitized to improve the immigration system at the airport while training of staff has also been started to improve their behaviour with the passengers. He further said that cameras have been installed on the immigration counter to monitor their performance. Regarding anti-money laundering, he said that FIA staff had been directed to avoid seizure of accounts of persons related to the main accused without any strong evidence. Earlier Rehan Naseem Bharara, President FCCI welcomed Malik Sikandar Hayat and pinpointed some issues related with the FIA. He said that cybercrimes have increased at an alarming proportion and in this connection awareness sessions may be arranged for the business community. He said that FCCI is ready to cooperate with the FIA in this regard. He also demanded that a special facilitation desk for FCCI members may be established at the Faisalabad Airport. Shahid Mumtaz Bajwa, Vice President, Muzammil Sultan, Umer Farooq Khalon, Muhammad Ali, Haji Muhammad Attaullah, Haji Sanaullah Khan Niyazi, Sohail Butt, Muhammad Mustafa, Akbar Ali and Habibullah took part in the question-answer session. Later Qaisar Shams Gucha, SVP offered vote of thanks while Rehan Naseem Bharara presented FCCI shield to Director FIA. He also decorated Malik Sikandar Hayat with a special pin of the FCCI Golden Jubilee Celebrations. Copyright Business Recorder, 2025
Business Recorder
7 days ago
- Business
- Business Recorder
FCCI seeks cut in policy rate to single digit
FAISALABAD: Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI) has expressed concern over the maintenance of the policy rate in double digit and said that it may dampen economic and industrial growth in the country. He said that chambers and trade associations have been demanding for a long time to cut down the policy rate to the single digit to spur economic activities. He said that Prime Minister Shehbaz Sharif had openly confessed in public meetings that industrial activities could not be expedited with high markup rate. He said that we are thankful to the government that it has gradually brought down the policy rate from 23% to 11% but still it is too high to give a quick start to the industrial activities. He said that it was particularly detrimental to the SME sector which has severe financial constraints and they could not do profitable businesses with high markup rate. Copyright Business Recorder, 2025
Business Recorder
21-06-2025
- Business
- Business Recorder
Faisalabad Institute of Cardiology: ‘Govt, FCCI, business community to add new emergency block'
FAISALABAD: The business community of Faisalabad is playing a key role in the comprehensive development of Faisalabad in addition to providing latest health facilities to its inhabitants, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI). He said that Faisalabad Institute of Cardiology (FIC) was overburdened with the heavy influx of cardiac patients from all over the region and Government in collaboration with FCCI and business community has decided to add a new emergency block with 70 beds which could be further expanded up to 250 beds. Bharara appreciated the generosity of the business community and said that leading local philanthropists including Seth Iftikhar, Mian Javed Iqbal, Farrukh Zaman and Mian Sheroz in close collaboration with FCCI and administration have focused on this public welfare project which would be completed with the donations of the business community. He also thanked Provincial Health Minister Khawaja Salman Rafique, Secretary Health Azmat Mehmood, Special Secretary Health Tariq Rehmani, Divisional Commissioner Madam Maryum Khan and Deputy Commissioner Captain Retired Nadeem Nasir for their keen interest in this project. He said that it would not only facilitate the local heart patients but also cater to the immediate needs of the adjoining divisions. He said that FCCI would play a motivational and catalytic role for its early completion while Seth Iftikhar would personally supervise the construction work. Copyright Business Recorder, 2025
Business Recorder
14-06-2025
- Business
- Business Recorder
Federal budget bereft of pro-business, pro-industry measures: FCCI president
FAISALABAD: Chambers of Commerce & Industry (CCI) and trade associations across the country have expressed reservations about the federal budget 2025-26. SCCI organized a Press Conference in which business leaders including Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI) participated through online. He termed the federal budget as an important document for the safety, solidarity and progress of Pakistan in addition to the revival of the economy. He lamented that no tangible pro-business and industry step has been proposed despite verbal assurances by the Government. He said that detailed discussion was held with the Prime Minister about the Final Tax Regime (FTR) for exporters but his assurances have also been ignored. 'Similar treatment is being meted out with the demand of exporters for the restoration of the original Export Facilitation Scheme (EFS)', he said and added that we intend to generate economic activity and enhance exports through efficient circulation of capital. He feared that the domestic industry would also become problematic if the current situation continued. He said that we were requested by the high ups to remain silent as the Government was actively considering cutting down the electricity rate to 9cent within the next two months. He said that four months have passed but exporters are not getting electricity at the regionally competitive rates. He condemned the blanket powers entrusted to the tax collectors under section 37-AA of Sale Tax Act 1990 to arrest the CEOs, Chief Financial Officers, Directors and other Company Officers and said that these powers would promote harassment, blackmailing and corruption in the FBR. He termed the business community as patriotic, adding that they are paying Rs. 1400bn towards the tax recoveries. He said that petrol levy would also be enhanced to add additional burden on the poor segments of the society. He said that no step has been taken to eliminate the non-filer category. He said that businessmen are not holding dual nationality and they would never leave Pakistan in any case. 'We would get electricity at 9cent and also play our proactive role in achieving the export target of $60bn under Uraan Pakistan program', he said and added that Finance Minister has rightly said that industrial sector is meant to generate new job opportunities but the Government was also bound to provide conducive climate to achieve this objective. He said that our businessmen are most resilient and they could achieve the target of Uraan Pakistan within three years instead of five years if favourable and pro-business conditions were provided. About the tax Anomaly Committee, Rehan Bharara said that we would identify collective issues which would be taken up with the Government. Later a joint communiqué was issued warning the Government that 'no export week' would be launched from June 20 if their genuine demands were not fulfilled. Senior Vice President Qaisar Shams Gucha, Vice President Shahid Mumtaz Bajwa and Bao Muhammad Akram Chairman APTPMA were also present during this online press conference. Copyright Business Recorder, 2025
