Latest news with #HyderabadChamberofSmallTraders&SmallIndustry
Business Recorder
2 days ago
- Business
- Business Recorder
HCSTSI suggests targeted relief steps to boost economy
HYDERABAD: The President of Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), Muhammad Saleem Memon, has formally submitted comprehensive budget proposals to the Federal Finance Minister ahead of the Federal Budget 2025–26, urging targeted relief measures for small traders, industrialists, and exporters to boost economic resilience and national growth. Memon emphasised that strengthening the business sector especially SMEs is vital to ensuring long-term economic stability. He stated that this is a critical opportunity for the government to stand firmly with the business community, especially amid ongoing tensions with neighbouring India, and send a strong message of national unity and economic strength to the global community. He stressed the urgent need to empower SMEs by maintaining tax exemptions on solar and wind energy, and by granting subsidies on electricity and gas tariffs. These measures, he explained, would help lower production costs and make Pakistani goods more competitive in international markets. To further support the sector, he called for easy access to low-interest loans, skill development He asked to allocate funds for the rehabilitation of SITE Area Hyderabad, especially road repairs, drainage, and water supply systems. He recommended a notable reduction in interest rates to encourage industrial growth and new ventures. On the export front, he proposed relaxing advance tax requirements, introducing export development schemes, and improving access to untapped global markets. He emphasised expansion of youth-focused vocational training and suggested tax incentives to foster innovation, research, and digital transformation to align Pakistan's industry with global standards. Memon also called for launching microfinance schemes and credit guarantee programs to promote financial inclusion. He strongly advocated for simplifying tax systems, licensing, and business registration to restore business confidence and foster government-business cooperation. A major highlight of his proposal was the demand to revise the mandatory POS registration threshold for small businesses. He recommended increasing the limit to PKR 350,000 monthly or PKR 70 million annually, protecting small traders from undue pressure. To broaden the tax net, he advised compulsory registration of distributors, dealers, and large retailers, along with identifying non-filers through property ownership, foreign travel, and luxury expenditures such as elite school fees. Copyright Business Recorder, 2025
Business Recorder
29-05-2025
- Business Recorder
HCSTSI-Hyderabad Police's liaison termed vital for peace
HYDERABAD: Senior Superintendent of Police (SSP), Hyderabad, Adeel Hussain Chandio has said the guidance and recommendations of the business community not only help the police but also enable other provincial institutions to improve their functioning in an effective manner. He remarked that 'Hyderabad is the face of Sindh and resolving the issues of the public and traders has always remained among the top priorities of the police.' Speaking on the concerns raised by President Hyderabad Chamber of Small Traders & Small Industry (HCSTSI) Saleem Memon, through a formal memorandum, SSP highlighted that the Safe City Project is a comprehensive and major initiative, and a detailed survey in this regard has already been completed. He added that the Madadgar-15 office is operational in Latifabad, while the Talash mobile application is also functional in Hyderabad and urged the business community to make active use of it. Acknowledging the shortage of police personnel in Hyderabad, SSP stated that despite limited manpower, the department is making earnest efforts to curb criminal activities. He further informed that over 550 new personnel have recently been recruited, and efforts are underway to have them join by June. 'Out of these, more than 150 officers will be trained for the Rapid Response Force (RRF).' He emphasized the importance of public awareness about the PECA law, designed to curb misuse of social media, and also urged parents to play a proactive role alongside police to help control one-wheeling incidents. He appreciated the Chamber's proposal for more driving licence branches and assured that he would take up the matter with the IGP Sindh. Referring to the increasing number of beggars in the city, he said that many of them are not genuinely needy and appropriate action would be initiated. SSP Adeel Chandio welcomed the idea of introducing a Community Policing System and a Crowd Management Unit, assuring that steps would soon be taken in that direction. He reaffirmed the strong liaison between HCSTSI and the Hyderabad Police, which he said is vital for maintaining peace and improving law enforcement. Earlier, HCSTSI President Saleem Memon, while addressing the session, appreciated SSP Chandio's strict measures against narcotics and recommended organizing open courts for public redressal. He highlighted that during the tenure of former SSP Sajid Sadozai, the police force was increased to 800, which was later raised to 1,600 by SSP Farrukh Lanjar and has now reached 2,000. However, further increase is necessary to meet growing challenges. He noted that over 550 personnel are deployed for VIP security alone. He emphasized that five out of the 28 police stations operate out of properties owned by other departments and must be transferred under police ownership. Issues surrounding the police property at Al-Rahim Shopping Centre should also be permanently resolved. Furthermore, he demanded the establishment of driving licence branches in Latifabad and the main city, and suggested the media cell be supervised by a CSS officer. Copyright Business Recorder, 2025
Business Recorder
15-05-2025
- Business
- Business Recorder
HCSTSI President spells out ‘core' reason behind narrow tax base
HYDERABAD: President Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), Muhammad Saleem Memon, has said in a statement that the core reason behind Pakistan's narrow tax net and limited number of taxpayers is the lack of public and business community's trust in the government's utilization of tax revenues. He emphasized that unless people are assured of transparent and effective use of their paid taxes, there can be no significant improvement in voluntary tax compliance. He highlighted that despite billions of rupees being collected in taxes annually by various departments, the public and business sectors continue to suffer from a lack of basic civic amenities. Roads remain in poor condition, hospitals and schools are dilapidated, and municipal services are constantly declining. He pointed out that numerous reports, including those from the Auditor General of Pakistan, have consistently revealed massive financial irregularities and mismanagement in public funds, but no meaningful accountability has been ensured. HCSTSI President stressed that it is impossible to strengthen the tax system without restoring the confidence of the business community. Currently, traders feel that they are being forcefully taxed, yet their issues remain unresolved. He urged the federal and provincial governments to publish detailed annual expenditure reports alongside tax collection data, so that citizens can clearly see how and where their money is being spent. He said that if the government ensures the transparent use of public money, it would not only boost the confidence of current taxpayers but also motivate non-taxpayers to become part of the formal economy. He noted that Pakistan's tax-to-GDP ratio is lower than other regional countries such as Bangladesh and Sri Lanka, which reflects the public's deep mistrust in how tax revenues are managed. Drawing comparisons with developed nations, Memon stated that one of the key reasons behind their success is the public's trust in their tax systems. For instance, in Canada, each taxpayer receives an annual breakdown of where their taxes were spent. In Norway, citizens have access to detailed expenditures of any public project. South Korea's 'Taxpayer Bill of Rights' gives people full awareness and holds the government accountable. As a result, people in these countries willingly and confidently pay taxes. Copyright Business Recorder, 2025
Business Recorder
12-05-2025
- Business
- Business Recorder
HCSTSI pays tributes to Armed Forces
HYDERABAD: President Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), Muhammad Saleem Memon, has paid rich tribute to the Pakistan Armed Forces, especially the courageous and highly professional pilots of the Pakistan Air Force, for their exceptional response during the recent escalation with India. Their swift and precise action not only safeguarded the nation but also earned global recognition for Pakistan's military excellence and aerial supremacy. He reiterated that war has never been Pakistan's first choice. As members of the business community, we have always advocated for peace, regional stability and mutually respectful relations with neighbouring countries, for it is only in such an environment that trade, growth, and prosperity can flourish. However, when aggression is imposed upon us, Pakistan reserves every right to respond decisively. Referring to the recent conflict, he noted that India used the April 22nd incident in Occupied Kashmir as a pretext to launch 'Operation Sandoor' on May 7th, targeting various regions within Pakistan. But by the grace of Almighty Allah and the iron-willed resolve of the Pakistan Armed Forces, Pakistan launched 'Operation Bunyan al-Marsis' in response neutralizing enemy Rafale jets, drones, and missile systems, and sending a clear message to the world: underestimating Pakistan is a grave miscalculation. HCSTSI President also extended his appreciation to Prime Minister Mian Shahbaz Sharif, Deputy Prime Minister Ishaq Dar, and the military leadership for their resolute and visionary strategy, which compelled India to seek a ceasefire through global intermediaries. The leadership's message was clear: Pakistan stands for peace, but with dignity and honour. He emphasized that the recent developments have highlighted the importance of not only a robust defense but also a stable economy and technological advancement for national resilience. 'This is the time for national renewal and commitment. Just as we stood united with our armed forces, we must now unite for the progress, self-reliance, and economic development of our beloved nation, setting aside all political and social differences,' he said. President paid heartfelt tribute to Dr. Abdul Qadeer Khan, the father of Pakistan's nuclear program, stating that the country's strategic capability under his leadership remains the strongest pillar of our national defense today. He further added that Pakistan's traders and industrialists have a vested interest in peace and stability, as these are essential for employment, investment, and national revenue. However, whenever the country faces threats, the business community stands firmly behind the Armed Forces like a frontline unit. Copyright Business Recorder, 2025
Business Recorder
05-05-2025
- Business
- Business Recorder
HCSTSI says concerned at FBR's ‘excessive' powers
HYDERABAD: President Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), Muhammad Saleem Memon, has expressed grave concern over the excessive, unilateral and unbalanced powers granted to the Federal Board of Revenue (FBR) through the SRO and Ordinance issued on May 2, 2025. He stated that these amendments, although introduced under the guise of improving tax collection, could in reality open a new chapter of harassment and uncertainty for Pakistan's business community. The changes stand in contradiction to the principles of justice, due process, and economic freedom. Chamber President Saleem Memon pointed out that under the newly inserted Sections 138(3A) and 140(6A) of the Income Tax Ordinance, 2001, if a matter is adjudicated by a higher court, the tax liability will become immediately enforceable. FBR will then have the authority to freeze bank accounts and recover the dues without prior notice or legal proceedings. This is an alarming provision that undermines the constitutional and legal rights of taxpayers, depriving them of the opportunity to defend, appeal, or clarify violating fundamental principles of natural justice. He further highlighted that Section 175C grants FBR or the Chief Commissioner the authority to deploy officers at any business premises, including shops or factories, to monitor the production of goods, services, or stock. This, he stated, is a form of coercion and interference in business operations. The physical presence of tax officers will not only create a hostile environment but will also instil fear and mistrust among entrepreneurs, ultimately disrupting routine commercial activities. Expressing reservations about the amendments to the Federal Excise Act, 2005, Saleem Memon noted that while the criminalization of counterfeit stamps, barcodes, and labels may be justified in principle, it must also be recognized that in many cases, such errors can be unintentional caused by technical glitches, printing issues, or logistical challenges. Such unintended mistakes could easily be misused by officials as grounds for excessive action and harassment. The HCSTSI president also criticized the manner in which these sweeping changes were introduced. He lamented that the amendments were enforced immediately through Ordinance without parliamentary debate, stakeholder consultation, or committee review. This lack of democratic process and transparency is deeply disappointing and detrimental to the trust between the government and the business community. In light of these developments, Muhammad Saleem Memon made a strong appeal to the Prime Minister of Pakistan, the Federal Minister of Finance, and the Chairman of FBR to immediately review these amendments and establish clear guidelines to restrict the misuse of authority by FBR officials. He proposed the following key measures to restore balance and fairness: A minimum 15-day written notice must be mandatory before freezing any bank account to give the taxpayer an opportunity to clarify or respond. Deployment of tax officers in business premises should be subject to judicial approval to prevent arbitrary actions. An independent grievance redressal cell must be established to address business community complaints in a timely and transparent manner. No new regulations should be implemented without the prior consultation of stakeholders, particularly representatives of small traders and industries. He alarmed that ignoring the legitimate concerns of the business sector will severely erode confidence across the country, damaging not only the economic environment but also the government's own revenue collection targets. He added that instead of burdening existing taxpayers, the government should focus on expanding the tax net to include untaxed segments of the economy. Chamber President concluded by urging the federal government to reconsider these amendments urgently and revive the consultation process with the business community to build a fair, transparent and progressive economic environment in Pakistan. Copyright Business Recorder, 2025
