FPCCI establishes help desks for Exporters in Karachi, Lahore and Islamabad, Mian Anjum Nisar

SBP’s decision of reducing 75 bps to 12.50 percent does not reflect market sentiment, Mian Anjum Nisar, President FPCCI

Mian Anjum Nisar President, Federation of Pakistan Chambers of Commerce and Industry said that the SBP decision seems totally against the global wisdom under prevailing drastic conditions of the life threatening disease caused by COVID-19.

Global think tanks and large number of countries are supporting economic activities by introducing ease of doing business and market expansion policies, while SBP ignoring the current devastating conditions around the world that would affect Pakistan’s exports.

The majority of the leading economist were optimistic about the positive move of policy rate cuts about 300 bps to spur economic activities.

Mian Anjum Nisar said that there were strong reasons for lowering interest rates to single digits as oil prices are continuously declining inflation is also going down hence significant cut in the interest rate has become essential which is the demand of the current global situation as well as protection of the national trade and industry.

President FPCCI also apprehended decline in Pakistan’s foreign trade as the Europe is facing severe conditions and the countries where our export goes significantly are under life threat due to coronavirus. America is also under threat hence Pakistan textile and other goods exports may hamper.  He further said that we may loss opportunity to avail market penetration for Pakistani products created due to crises in our competitors countries.

In the present situation like other nations Pakistan should also adopt measures to support business activities. The German Government is considering an emergency fund aimed at helping small- and medium-sized companies.

Mian Anjum Nisar said that it’s time for policymakers, central banks and economists to actively consider more radical solutions. We need to build confidence among people, businesses and industry to carryon industrial production to safe millions of people job and their families.

Government should also seek moratorium and negotiate with international donor agencies to support financially as the country has limited resources. Government should also consider reducing cost of doing business through availability of all kinds of industrial input at reduced prices.

The SBP should adopts policies that support economic activities at this time of crises and review its monetary policy by lowering minimum 300 bps according to the market demand.

Amjad Qureshi

Acting Secretary General

MoU between FPCCI and NUTECH at the ceremony

Government Should Take Preventive Measures to Protect Economic Growth Anjum Nisar, President FPCCI

Mian Anjum Nisar, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the Government to take preventive measures and develop strategy to protect the pace of economic and trade progress of Pakistan from likely impacts of world economic slowdown apprehended by leading think tanks due to the recent global spread of the novel coronavirus.

Globally, more than 145,682 people have been diagnosed with coronavirus. The death toll above 5436, in China death toll 3173, South Korea, mass testing has turned up over 6,000 cases and more than 60 deaths. Italy has confirmed more than 17660 cases, along with more than 1200 deaths. Iran has announced 514 deaths and 11364 cases. The United States confirmed 41 deaths from the outbreak, along with more than 1264 confirmed cases.

Mian Anjum Nisar said that in order to safe national economic system from the impacts of slow down of world economy due to coronavirus and other global economic challenges government should announce economic relief package to protect trade and industry of the country. He informed that the Europe is now the "epicentre" of the global coronavirus pandemic. The Europe Union (EU) is the second biggest trading partner of Pakistan where around 20 percent of Pakistani exports have duty-free access to the Europe, while 70 percent avails preferential treatment.

FPCCI under the current scenario has organized a consultative session seeking feeding back from the stake holders on likely impact of this coronavirus on Pakistan’s foreign trade. The session was attended by Dy. Governor SBP Dr. Murtaza Syed, Dr. S.M. Qaiser Sajjad Secretary General, Dr. Samreen Sarfarz Pakistan Medical Association, Dr. Adil H. Haider Dean Aga Khan Medical University, Dr. Ijaz, health department of Sindh Government, Aga Fakhar Hussain Additional Secretary Industry & Commerce Sindh, Dr. Saeed SINA Welfare Trust, Prof. Dr. Zarna Wahid, Dow University of Health Sciences, Pakistan National Shipping Corportation and KPT. The session was chaired by Sheikh Sultan Rehman Vice President FPCCI.

President FPCCI also informed that the US Congress has voted for a US $ 50 billion emergency funding package to fight the coronavirus. Several central banks around the world, including the U.S. Federal Reserve, have lowered interest rates to support their economies amid the coronavirus outbreak. Lowering interest rates make borrowing costs cheaper and could encourage business to take loans and spend which will in turn stimulate the economy. He further stated that the IMF is making available US $ 50 billion in emergency funding to help poor and middle-income countries.

Mian Anjum Nisar President FPCCI emphasized that as the inflationary trend shows declining that support to reduce interest rates while on the other hand to boost and safe economic activity all segment of economy needs to be supported and facilitated to contribute in economic growth. Other- wise we will again face economic crises, lower industrial growth and shifting of industrial units in sick industry. Government should also reduce the cost of doing business and encourage the domestic & foreign investors to make investment in country at this critical time when the global economy is shrinking.

Amjad Qureshi                                               

Acting Secretary General

Sindh Minister for Information, Local Government, Religious Affairs, Forest and Wildlife visits FPCCI

Mian Anjum Nisar, President FPCCI presenting FPCCI crest to Syed Nasir Hussain Shah, Sindh Minister for Information and Local Government, Housing & Town Planning. Mr. Khurram Ijaz, Vice President FPCCI, Mian Zahid Hussain, Convener FPCCI SC Public Utilities, Mr. Zakaria Usman, Mr. Saqib Fayyaz Magoo and Shaukat Ahmed  also seen in the picture.

Syed Nasir Hussain Shah, Provincial Minister for Information, Local Government, Religious Affairs, Forest and Wildlife visited FPCCI and had a meeting with the business community at Federation House Karachi. The meeting was presided by President of the Federation of Pakistan Chambers of Commerce and Industry Mian Anjum Nisar and attended by Vice Presidents FPCCI Sheikh Sultan Rehman, Khurram Ijaz and Zubair Baweja, Convener FPCCI SC Public Utilities, Mian Zahid Hussain, Former President Zakaria Usman and other prominent businessmen including Shaukat Ahmed, Saqib Fayyaz Magoon highlighted the issues faced by the businessmen of Karachi.

While Welcoming the Provincial Minister, the President FPCCI Main Anjum Nisar informed the issues and problems faced by the Karachi city like transport congestion, pollution, lack of town planning, education and health facilities, illegal construction of building. Karachi is a metropolitan and largest city of Pakistan; but no significant steps were taken during the past decades for resolving their issues. He also talked about the corona virus which has become a pandemic disease and affected the Karachi city mostly. During the meeting, he also gave certain suggestion to Minister for town planning of Karachi, campaign for plantation, revival of circular train in Karachi etc.

In response, Syed Nasir Hussain Shah, Provincial Minister for Information, Local Government, Religious Affairs, Forest and Wildlife informed about the establishment of special courts for adjudication of illegal construction cases and measures taken by provincial government against 28 officers of Sindh Building Control Authority who were involved in illegal construction. He added that the Chief Minister Sindh is strictly monitoring the corona virus situation and has established health desk in all government hospitals for screening the people. He further added that the Sindh Government is striving to provide all facilities to the citizen of Karachi, similar to those available in other metropolises cities. Sindh Government has also started work for restoration of Karachi circular railway on the directives of Supreme Court which will resolve the transportation issues in Karachi and also reduce traffic burden on the roads.

Amjad Qureshi

Acting Secretary General

FPCCI Women Entrepreneur Committee celebrated Women Day

Mrs. Nazli Abid Convener FPCCI Standing Committee on Women Entrepreneur and member of the committee organized Women Day celebration at Golf club to appreciate the role of women in the economic development of Pakistan. The Women day followed by “Basant Spring Festival” also exhibition  on the occasion H.E. Mrs. Birgit Kohalmann was the Chief Guest and also attended by Ms. Ghazal Saifee MNA, Tara Dawood, Muneeza Butt, Mrs. Brigadiar Tayaba Qasim Changezi, Mrs. Shaista Affendi and Shabina Mustafa, Mahreen Iqra, Afazala, Rabia, Irum, Mehvish also share there views on the occasion for women Empowerment.

Talent Awards distributed among women Entrepreneur.  

Amjad Qureshi

Acting Secretary General

FPCCI Women Entrepreneur Committee celebrated Women Day

Shiekh Sultan Rehman, Mr. Khurram Ijaz, Vice Presidents and Mr. Shahid Ismal, Mr. Talat Mehmood and Mr. Shabbir Mansha awarded shields to Mrs. Nazli Abid, Convener Women Entrepreneur Committee.

Mrs. Nazli Abid Convener FPCCI Standing Committee on Women Entrepreneur and member of the committee organized Women Day celebration at Golf club to appreciate the role of women in the economic development of Pakistan. The Women day followed by “Basant Spring Festival” also exhibition  on the occasion H.E. Mrs. Birgit Kohalmann was the Chief Guest and also attended by Ms. Ghazal Saifee MNA, Tara Dawood, Muneeza Butt, Mrs. Brigadiar Tayaba Qasim Changezi, Mrs. Shaista Affendi and Shabina Mustafa, Mahreen Iqra, Afazala, Rabia, Irum, Mehvish also share there views on the occasion for women Empowerment.

Talent Awards distributed among women Entrepreneur.   

Amjad Qureshi

Acting Secretary General

FPCCI APPRECIATES EFFORTS OF THE MINISTRY OF COMMERCE FOR EXTENSION IN GSP PLUS STATUS

FPCCI call a meeting on Impact of Corona Virus on Pakistan’s Trade

Sheikh Sultan Rehman Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in a statement informed that FPCCI has called a meeting of stakeholders to discuss the impact of Corona Virus on Pakistan’s Trade on Wednesday March 11^th, 2020 at 3:00p.m. at Federation House Karachi, FPCCI Regional Office Lahore and Capital Office Islamabad via video conferencing. The meeting will be attended by Executive Committee and General Body Members of FPCCI, Representatives of Trade Bodies, Members of Pak-China Business Council of FPCCI, Representatives of State Bank of Pakistan, Port & Shipping, Custom Authorities and officials of Sindh Government etc. The purpose of the meeting is to analyze the possible impact of Corona Virus on Pakistan’s Trade and devise a strategy to minimize the risk. Necessary invitations are being extended to all concerned officials.

Amjad Qureshi

Secretary General (Acting)

Sheikh Muhammad Tariq nominates a Convener of the FPCCI Standing Committee on Corporate Relation & Communication Committee for the year 2020.

Mian Anjum Nisar, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) nominated Sheikh Muhammad Tariq a Convener of the Corporate Relation & Communication Committee for the year 2020. In his letter, the President FPCCI hoped that as he possesses a vast experience of Corporate Relation & Communication which will help the businessmen in resolving their Corporate Communication related issues.

Dr. Iqbal Thaheem

Secretary General