Latest news with #HaroonAkhtar
Business Recorder
24-05-2025
- Business
- Business Recorder
Tax ordinance will be reviewed, SAPM tells FPCCI
KARACHI: Haroon Akhtar Khan, Special Assistant to Prime Minister (SAPM) for Industries & Production, has assured a high-profile FPCCI delegation that the government will review the Tax Laws (Amendment) Ordinance, 2025, in the light of apex body's recommendations to help resolve the profound grievances of the entire business, industry and trade community of Pakistan. This was informed by Atif Ikram Sheikh, President FPCCI, President ECO-CCI and VP CACCI, after the meeting with SAPM on Friday. Sheikh led a senior delegation of the business community to meet Haroon Akhtar on several issues including Tax Laws (Amendment) Ordinance 2025, highhandedness of the Federal Board of Revenue (FBR), tax & tariff barriers in doing business in the country and the issues of Dangerous Petroleum Liquids. 'The meeting with SAPM and assurance is a resounding success of the rigorous policy advocacy endeavours on this critical issue of national significance,' he said. FPCCI demands reviewing Income Tax Amendment Ordinance During the meeting, Haroon Akhtar reiterated his commitment to playing a proactive role in resolving the problems faced by the business community. Additionally, he informed that Prime Minister Muhammad Shehbaz Sharif has given clear instructions to formulate problem-solving committees and advised to take business community on board in the policymaking consultations. FPCCI President maintained that all chambers, trade bodies and associations have grave reservations and apprehensions on Income Tax (Amendment) Ordinance 2025, as they believe that it will give rise to avenues of harassment, corruption and maladministration. He explained that it is an established fact and practice globally that the more a tax collector is allowed to intervene or interact with the taxpayer, the more it is likely to undermine the principles of fairness, transparency and impartiality due to the increased role of human-to-human interaction, and human judgement becomes a nuisance. 'Therefore, we do not need to reinvent the wheel in this matter', he added. Saquib Fayyaz Magoon, SVP FPCCI, apprised that during the meeting with SAPM, he decided to extend the six-month exemption granted till May 25, 2025 by another 6 months vis-à-vis 'Dangerous Petroleum Liquids' on FPCCI's demand. 'We need to define DPL well and resolve the transportation, availability, storage and regulatory issues vis-à-vis important raw materials for the industry and manufacturing in the form of chemicals,' he added. Hamid Arshad Zahur, Chairman of Pakistan Tanners' Association and Haroon Ali Khan, Chairman of Pakistan Chemical Manufacturers Association (PCMA), were also part of the FPCCI delegation. Copyright Business Recorder, 2025
Business Recorder
04-05-2025
- Business
- Business Recorder
Haroon highlights economic roadmap, reiterates PM's ‘inclusive progress' vision
LAHORE: Haroon Akhtar, Special Assistant to the Prime Minister on Industry and Production, outlined the government's economic roadmap on Saturday emphasizing a shift from stabilization to growth-oriented policies in the upcoming budget. Akhtar reiterated Prime Minister Shehbaz Sharif's vision of 'inclusive progress' by engaging all stakeholders and minimizing bureaucratic intervention across sectors. He was addressing the consultative session on Federal Budget 2025-26 organised by Federal of Pakistan Chambers of Commerce and Industry (FPCCI) regional office. Akhtar highlighted the critical role of Small and Medium Enterprises (SMEs), calling them the 'lifeline of industry,' and vowed targeted support to bolster their productivity. He confirmed that the previous budget focused on economic stabilization, while the upcoming budget will prioritize development, export promotion, and industrial revival. To boost exports, the government plans to position exporters in an 'ideal position' through strategic measures, with special attention on expanding shipments of halal meat, dairy products, mangoes, onions, and citrus fruits. Tax incentives for electric vehicles and efforts to revive closed industries were also announced as part of the strategy to stimulate manufacturing and job creation. Regarding sustainable energy, Akhtar revealed that a proposal to produce biogas from manure is under consideration, which could significantly reduce petroleum import costs. 'Expert input will guide policy decisions to ensure efficiency and competitiveness,' he added, stressing the government's commitment to a private-sector-led growth model. Speaking on the occasion Saqib Fayaz Magoon, FPCCI's Senior Vice President, underscored the critical role of pre-budget proposals, lamenting that past recommendations had yielded limited implementation despite their importance. He emphasized that this year's proposals were crafted with IMF conditions in mind, stressing the need for long-term industrial policies to ensure sector stability. 'Industries are built for lifetimes, not just 5 or 10 years,' he asserted, calling for cross-party consensus to insulate economic and industrial policies from political changes. Magoon criticized structural flaws in the Export Finance Scheme (EFS), citing its adverse impact on ginning and spinning sectors, where 50% of units have reportedly shut down. He urged the immediate abolition of the 18% sales tax on local industries under EFS and advocated for a review of energy tariffs to alleviate production costs. Highlighting bureaucratic inefficiencies, he demanded that the Federal Board of Revenue (FBR) consult stakeholders before issuing Statutory Regulatory Orders (SROs), which he deemed 'unworkable' in their current form. He also proposed reducing the 4% sales tax burden on unregistered businesses to broaden the tax net. Zain Iftikhar, FPCCI's Regional Chairman, called for shifting focus to agriculture, terming it the 'backbone' of Pakistan's economy. He highlighted systemic challenges faced by farmers, including inadequate crop prices, which he claimed deprive them of resources for future cultivation. Iftikhar called for abolishing the 17% sales tax on seeds and reducing GST on fertilizers, whose prices have surged by 250% since 2020. He pushed for lower electricity tariffs for tube wells, increased adoption of modern agricultural technology, and tax cuts on diesel, which is predominantly used in farming. To support smallholders, he urged the federal government to introduce interest-free loans for farmers. Earlier, Special Assistant to the Prime Minister for Industries and Production, Haroon Akhtar Khan, introduced the Prime Minister's SME Development Vision during a media talk at the Small and Medium Enterprises Development Authority (SMEDA) office on Saturday, ahead of the SMEDA Board of Directors' meeting. He was accompanied by Federal Secretary for Industries and Production, Saif Anjum, and SMEDA's Chief Executive Officer, Suqrat Aman Rana. Copyright Business Recorder, 2025
Express Tribune
01-05-2025
- Business
- Express Tribune
84% of SMEs informal
Listen to article The Small and Medium Enterprises Development Authority (Smeda) has marked the International Labour Day by ensuring labour rights in all Small and Medium Enterprises (SME) development initiatives. In a joint statement, Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar, Federal Secretary Ministry of Industries and Production Saif Anjum, and Smeda Chief Executive Officer Socrat Aman reaffirmed full support for boosting employment and skill development in SME sector. This commitment aligns with the Prime Minister's SME development vision, to be implemented by the Ministry of Industries and Production through SMEDA. He stated that the Ministry of Industries and Production was working to protect workers' rights while increasing job opportunities in the SME sector under PM's vision. Federal Secretary Saif Anjum informed that the Ministry of Industries and Production (Mop) in partnership with the ILO had launched "the Enterprise Formalisation Project, which will also formalise the labour force to improve their employability and access to the new job markets by developing the skills required for a just transition in response to climate change. Smeda CEO said, "At Smeda, we are committed to looking after the complete value chain of the SME sector, in which labour plays a pivotal role. He informed that Smeda development projects also include capacity-building initiatives for the labour force of the country to provide them with the necessary tools, training, and resources to compete in the job market. "Over 84% of Pakistan's workforce operates informally within the SMEs and home-based sectors, creating barriers for businesses and workers alike. This informality limits access to critical markets, financing, social protections and skill development," he said and hoped that the "Enterprise Formalisation Project" launched by MoIP in collaboration with ILO will remove these anomalies.
Business Recorder
01-05-2025
- Business
- Business Recorder
Balochistan, Gilgit-Baltistan: Ministry considering to establish skill development institutes
ISLAMABAD: The Ministry of Industries and Production, in a bid to enhance local capabilities and creation of job opportunities in the less developed areas, especially in Balochistan and Gilgit-Baltistan, is considering setting up skill development institutes. Proposals regarding the initiatives were discussed during a high level meeting chaired by the Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan with the Technology Upgradation and Skill Development Company (TUSDEC). The meeting focused on reviewing progress on a six-point agenda with regard to technological advancements and industrial development. Moreover, there were recommendations for establishing fish processing, packaging, and storage plants in both Balochistan and Gilgit-Baltistan, which will boost the regional economy. During the meeting, TUSDEC presented its strategy for the Electronic Waste (E-Waste) Metal Recycling project in Gujranwala. The SAPM emphasised that metal recycling would play a crucial role in combating pollution in the country, said a news release. TUSDEC will provide services for the separation of ferrous and non-ferrous metals, which is expected to improve environmental management. The meeting discussed proposals for testing water quality without the use of bore wells, aimed at ensuring safer water sources for the country. The meeting also covered discussions on smart manufacturing for agriculture, textile, and automotive parts sectors. The SAPM reaffirmed the necessity of implementing robotics technology and Artificial Intelligence (AI) in line with the present government's vision, stressing the importance of these innovations for the country's industrial progress. Haroon Akhtar emphasised that the establishment of modern slaughterhouses, meat processing, and cold chain facilities is crucial for the national economy. He said that the step will help enhance the capabilities of the local youth, making them useful citizens as well as discouraging the youth's involvement in anti-social activities. Additionally, the development of processing and cold chain plants for meat exports was recognised as a significant step in expanding Pakistan's meat industry. The SAPM highlighted that these initiatives would be beneficial for both the local industries and the public. The meeting also included suggestions on empowering women in industrial sectors and increasing their participation in key economic activities. Haroon Akhtar underscored that TUSDEC must deliver concrete results in the next meeting, stating, 'I want results in the upcoming meeting.' The meeting concluded with a call for further action and continuous follow-up on the proposed initiatives to achieve tangible outcomes. Copyright Business Recorder, 2025
Business Recorder
30-04-2025
- Business
- Business Recorder
Pakistan to introduce industrial policy focused on growth, exports: Haroon Akhtar
Special Assistant to Prime Minister, Haroon Akhtar Khan on Wednesday said the government would soon introduce an industrial policy critical for challenges faced by the industrial sector. According to a statement from the Ministry of Industries and Production, Haroon Akhtar said that in a meeting with the Revenue Mobilisation, Investment, and Trade Programme (REMIT), which was held to discuss key elements of Pakistan's upcoming industrial policy. During the meeting, Haroon Akhtar Khan emphasised the importance of the industrial policy, stating, 'We are about to introduce an industrial policy that is critical for addressing the challenges faced by the industrial sector'. 'This industrial policy will empower industrialists and contribute to the growth of Pakistan's economy, enabling a more competitive industrial landscape,' he added. He said the government was working towards formulating a comprehensive industrial policy. 'Our industrial policy will be export-oriented, with a focus on ensuring the global competitiveness of Pakistani industries,' Haroon Akhtar said.
