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Business Recorder
26-05-2025
- Business
- Business Recorder
Consistent policies needed for economic stability: FCCI chief
FAISALABAD: Long term policies are prerequisite to achieve sustained economic stability and, in this connection, the business leaders across the country must adopt a unified stand, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI). Addressing All Pakistan Chambers Presidents Conference 2025 organised by the RCCI, he said that Pakistan was making steady progress in the 1960s but later on decline started due to multiple reasons including inconsistent policies and international and domestic meltdown. He said that once again serious efforts were made for the revival of the economy which were sabotaged and failed to give the required results. He appreciated the economic vision of Prime Minister Shehbaz Sharif and said that he has not only saved Pakistan from bankruptcy but also put it back on the path of revival. 'However, positive, practical and long term policies are required to consolidate these achievements on a sustained basis,' he said and added that consultation with genuine stakeholders is a must in policy formulation. About the problems confronted by the business community, he expressed concern over the recently amended tax laws and demanded its immediate review. He said that exports are the lifeline of Pakistan and we must satisfy exporters by restoring the Final Tax Regime (FTR). He also stressed the need to bring down the policy rate to single digit in addition to providing electricity to the industrial sector at 9 cent per unit. 'It would help our exportable surplus to compete in the international markets,' he added. About the SME sector, he termed it as an economic growth engine but added that this financially starved sector was facing multiple issues. He said that the SME sector must be facilitated with concessional loans to unlock their immediate growth potential. 'Similarly, the limit of the SME sector should also be enhanced from 80 crore to Rs 2 billion, he said and demanded that the SME sector may also be allowed to import used machinery through concessional loans. President FCCI said that the tax net should be broadened in connection with the documentation of the economy. He acknowledged the importance of women entrepreneurs and said that the government should also take special measures to encourage them by providing them concessional loans. Later President FCCI Rehan Naseem Bharara signed two separate MoUs with Movenpick Hotel Centaurus Islamabad and Wah Nobel Group. Under the MoUs, these institutions would provide services to FCCI members at subsidized rates. Copyright Business Recorder, 2025
Business Recorder
10-05-2025
- Business
- Business Recorder
Nespak team visits FCCI
FAISALABAD: A team of NESPAK visited Faisalabad Chamber of Commerce & Industry (FCCI) to discuss the issues relating to the establishment of Expo Centre in Faisalabad. They also participated in a special session of FCCI Standing Committee on Council of Textile and Expo. The meeting was chaired by Qaisar Shams Gucha Senior Vice President FCCI while it was participated by former President Mian Javed Iqbal, Convenor Standing Committee Engineer Bilal Jamil, Mian Naveed Gulzar, Mian Muhammad Latif and Muhammad Amir General Manager NESPAK and Structure Engineer Dilawar Khan. Copyright Business Recorder, 2025
Business Recorder
09-05-2025
- Business
- Business Recorder
FCCI holds ‘solidarity walk'
FAISALABAD: Nation is proud of its armed forces who have given a befitting reply to the Indian aggression, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI). Addressing a solidarity walk, he said that Pakistan Army, Navy and Air force are custodian of the geographical boundaries of Pakistan and they have given a spontaneous response to the attack by downing five Indian fighter jets during last night. He said that it has proved beyond any doubt that our armed forces are professional and are in a state of full preparedness. Copyright Business Recorder, 2025
Business Recorder
05-05-2025
- Business
- Business Recorder
1pc cut in policy rate ‘inadequate': FCCI
FAISALABAD: Faisalabad Chamber of Commerce and Industry President Rehan Naseem Bharara has termed the 1% reduction in the policy rate as highly inadequate in the current economic conditions of the country. He said that the prime minister, including members of his economic team, have openly admitted that it is not possible to run industries profitably until the policy rate comes down to single digits. He said that at present, those who are running industries are actually causing their own personal losses, so a reduction of at least 4 percent in the policy rate was necessary. He said that at present, inflation, foreign exchange reserves, exports and other economic indicators are gradually improving, so there was scope for a reduction of up to four percent in the policy rate, but the State Bank has reduced the policy rate by only one percent. He said that to increase industrial production and exports, the government will have to decide to bring the policy rate to single digits as soon as possible. He said that the business community has been disappointed by the reduction in the policy rate by just one percent. Copyright Business Recorder, 2025
Business Recorder
01-05-2025
- Business
- Business Recorder
Economic revival: Bureaucracy, traders must change their mindset: FCCI
FAISALABAD: All patriotic segments including bureaucracy and the business community must change their mindset for the expeditious economic revival of Pakistan, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI). Addressing the participants of 37th Senior Management Course of National Institute of Public Administration (NIPA) Peshawar, he introduced Faisalabad and FCCI in addition to explaining the overall economic situation in the country. He also responded to the question and queries of the participants and said that textile is the iconic representation of Faisalabad but its industrial portfolio has been entirely changed during the last two decades with diversification. 'Now Faisalabad has a car assembly plant, in addition to the state-of-the-art pharmaceutical, food, confectionary, diaper and tile units which are not only catering to the domestic needs but are also exporting the surplus production', he said and endorsed the 'Economic Transformation Plan' which has potential to enhance exports up to $100bn by formulating tangible policies in consultation with the genuine stakeholders. Copyright Business Recorder, 2025
