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Business Recorder
5 days ago
- Business
- Business Recorder
‘Skilled workers can pave way for industrial revolution'
FAISALABAD: Focused approach is required to produce skilled manpower fully capable of meeting the current and future industrial challenges instead of producing a force of unfit and unemployed youth, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI). Addressing a delegation of HEC and ICCI, he said that only skilled workers could pave the way for the industrial revolution and in this connection, we must make collaborative efforts with all concerned stakeholders including industrialists and scholars. He appreciated researchers and faculty members deputed in ORIC and said that industry-academia linkages are imperative to give a kick start to the industrial growth. He mentioned some leading industrial units which have made tremendous progress after adopting new and innovative technologies. He said that universities should also revisit their syllabus to synchronize it with the market driven needs. He appreciated the efforts of ICCI to arrange this tour of faculty members drawn from various universities and provide them an opportunity to directly interact with the leading industrial giants of Faisalabad. He appreciated the decision of HEC to declare internship compulsory for the young graduates but stressed the need for proper legislation at the Government level declaring internship as mandatory. He said that about 70% of the current syllabus is irrelevant for the industry and it should be revised in consultation with the stakeholders from the concerned industry. He said that once textile was the only iconic representation of Faisalabad but now it has diversified its industrial portfolio. 'It has state of the art diaper, Hyundai and tile units in addition to many more established with domestic and foreign investment,' he said and underlined the importance of developing indigenous technologies so that we could consolidate the economy after making our defence impregnable. Dr Habib Aslam Gaba Convener FCCI Standing Committee on Industry Academia Linkages termed leading businessmen as industrial PhD holders which they have gained through their life long struggle and practical experience. He said that the universities should also recognize their expertise in this field and plume them with honorary PhD degrees. Copyright Business Recorder, 2025
The Hindu
22-05-2025
- Business
- The Hindu
Indian Chamber organises job fair in Coimbatore under Naan Mudhalvan Scheme
Almost 100 companies from Coimbatore and its environs are recruiting candidates at a two-day job fair that started on Thursday at the Indian Chamber of Commerce and Industry (ICCI). K. Annamalai, vice president of the Chamber, and Rajesh B. Lund, president of the Chamber, told The Hindu that the second edition of the job fair organised by the ICCI, Coimbatore, will see close to 3,600 candidates attending interviews of nearly a 100 companies under the Tamil Nadu government's Naan Mudhalvan scheme. The fair, organised in partnership with NSE Academy, is for students in the arts, commerce, and management streams. The government provides 60 hours training for college students under the Naan Mudhalvan scheme. The companies that are recruiting candidates include e-commerce giants such as Flipkart, local companies in logistics, finance management firms, and retailers. 'The number of vacancies that will be filled totally will be known on Friday. Last year, the Chamber organised a similar job fair in which 30 companies offered letters of employment to 242 candidates. They were selected from 700 students who participated in the fair,' said Mr. Annamalai. The event got bigger this year with participation of 100 companies, said Mr. Lund. Each candidate who registers can select the company for the interview. 'Though there is no restriction on the number of companies, a candidate will have time to attend the interview of only one company,' said Mr. Annamalai. Trade sources pointed out that currently, attrition rates were high. If a company recruits 10 candidates, especially those who passed out of colleges in the recent months, just one or two candidates remain at the company for a year. This should be addressed in any training programme for students, they added.
RTÉ News
15-05-2025
- Politics
- RTÉ News
Meeting told of eagerness for Dublin mosque to reopen
Children are eager to return to study the Quran at the Islamic Cultural Centre of Ireland's (ICCI) mosque, an online public meeting to discuss its closure has heard. The facility in Clonskeagh in Dublin remains closed following fractious scenes at and outside a meeting at the centre on 19 April. In a statement, the ICCI said the facility was closed "as a preventive measure to ensure the safety and security of the property, staff, children and members of the public". Some 171 people have attended an online meeting to discuss the matter, which was hosted Abdul Hasseb. The discussion was also attended by Joe Coleman, who was described by the host as an expert mediator. Mr Hasseb, the spokesperson for the 'Muslim Community Ireland' group, said the meeting was held after a petition was organised by its members. The members, he said, are unhappy about the closure of the mosque and it was established with the purpose of campaigning for the reopening of the centre. Mr Hasseb said the committee has already held a press conference in relation to the closure, and contacted local TDs, saying they will meet Shay Brennan. Mr Hasseb said tomorrow will be the fourth Friday that the mosque is closed, adding it is sad that people have become used to the facility being closed. During the meeting, the committee presented the results of a survey of 247 members of the Muslim community. The respondents, of which 46% were woman and 54% were men, mostly said the impact on the religious education of children in the community has been severe. The report, with representation across the age groups, also found the majority of those surveyed said the Islamic Cultural Centre was extremely important to their family's sense of belonging. It showed that many reported feeling emotionally distressed and isolated because of the closure, while a little under half of the respondents said they have difficulty accessing religious services elsewhere. The committee said people reported the mosque had been part of their daily routine and their children keep asking when they can go back to their Quran classes. The group shared a statement from Imam of the mosque Sheikh Hussein Halawa, in which he apologised for not being able to attend. He said it breaks his heart the mosque is closed and he has sought legal avenues, but cannot comment further. He said: "My silence is not indifference, it out of necessity." But Mr Hasseb said the committee will continue to push for further information. He also shared a statement from the Ahmed Hasain, CEO of the ICCI, in which he said he had to comply with the board of directors directive to refrain from public comment. Mr Hasain said it is his view that he has always been clear that the reopening of the mosque should not be linked to employment issues. Mr Coleman, described as a mediator, addressed the meeting, saying he had reached out after seeing media reports on RTÉ and the Irish Times. He said that he understands the motivation of the community who want the mosque reopened. However, Mr Coleman added that he does not understand the coupling of the closure of the mosque with an employment dispute. He said if the dispute is litigated it will take years to be resolved, adding that he does not know what the employment dispute is about and he does not want to go down that avenue. He suggested the community agree on a representative to meet with the Islamic Cultural Centre board at a mediated meeting. Mr Coleman said while mediation can be much quicker than litigation, it should not be rushed.
Business Recorder
07-05-2025
- Business
- Business Recorder
ICCI rejects Tax Laws (Amendment) Ordinance 2025
ISLAMABAD: The business community of the federal capital has rejected Tax Laws (Amendment) Ordinance 2025 with the concern that there is no financial emergency in the country to take extreme harsh measures against the business community. In a press briefing held here on Tuesday, President of the Islamabad Chamber of Commerce and Industry (ICCI), Nasir Mansoor Qureshi, voiced deep concern over the recently promulgated Tax Laws (Amendment) Ordinance 2025. Speaking on behalf of thousands of traders, industrialists, and the service sector, he rejected the ordinance as regressive, unconstitutional, and damaging to the country's already fragile economy. President ICCI criticised the ordinance for granting sweeping powers to the Federal Board of Revenue (FBR), including the authority to freeze bank accounts, seal business premises, and confiscate properties. He described these measures as a blatant violation of due process and constitutional protections, particularly Section 137(2) of the Income Tax Ordinance, which grants taxpayers a 30-day compliance period even after an adverse appellate decision. Such unchecked authority, he warned, creates fear, disrupts commerce, and undermines business confidence. The ICCI president further condemned the move to post tax officers inside business premises, calling it an invasive and unprecedented form of enforcement that infringes on constitutional rights to privacy and business freedom. Rather than encouraging compliance, such steps, he argued, amount to harassment and surveillance. He also questioned the timing of the ordinance, which was passed through a presidential order just days before Parliament was scheduled to convene, raising serious doubts about the government's intent and its respect for democratic norms. Highlighting the economic fallout, Qureshi noted that Pakistan's industrial output has already contracted by 3.91% in FY2024, and foreign direct investment has fallen by 22.5% in the first half of FY2025. In this context, coercive policies risk pushing more businesses into the informal sector or forcing them to shut down altogether. He pointed out that despite increasing tax raids between 2018 and 2022, the FBR's own data shows little improvement in tax collection from the informal economy, proving that coercion does not lead to reform. Calling the ordinance an act of economic strangulation, Qureshi concluded by demanding its immediate withdrawal. He urged the government to engage in a transparent, parliamentary process and consult business stakeholders in the formulation of any future tax reforms. 'We would rather shut down our businesses than operate under such arbitrary and unconstitutional frameworks,' he declared, reaffirming ICCI's commitment to protect the rights and survival of Pakistan's business community. Copyright Business Recorder, 2025
Business Recorder
05-05-2025
- Business
- Business Recorder
Business community says dissatisfied with meager cut in interest rate
ISLAMABAD: The business community including Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and Islamabad Chamber of Commerce and Industry (ICCI), Monday, expressing dissatisfaction over one percent cut in rate of interest has urged the State Bank of Pakistan (SBP) to bring policy rate below 10 percent in line with the rate of inflation. FPCCI President Atif Akram Sheikh, following SBP's announcement of cutting down rate of interest from 12 percent to 11 percent, said that the policy makers should have cut it at least four percent and fixed around seven to eight percent. He said that the government should have followed the global trend and local rate of inflation which is lowest in past 60 years. Nasir Mansoor Qureshi, president of the ICCI, welcomed the SBP's decision to cut the policy rate to 11 percent, but noted that the business community had hoped for a reduction into single digit to provide stronger support for economic revival. Qureshi acknowledged that the move is a step in the right direction, as high interest rates have long burdened the business sector, particularly small and medium enterprises. However, he emphasised that bringing the policy rate below 10 percent was a long-standing demand of the private sector to improve access to affordable financing and boost industrial activity. 'The cut to 11 percent will offer some relief to businesses, but a deeper reduction was expected, especially in light of easing inflation and declining input costs,' he stated. The SBP's Monetary Policy Committee (MPC) announced the revised rate following its meeting, marking a cumulative 1,000 basis point reduction since June 2024, down from the peak of 22 percent. Qureshi pointed out that inflation dropped significantly in March and April, largely due to falling electricity tariffs and continued food inflation decline, providing ample justification for a more aggressive rate cut. He urged the central bank to closely monitor economic indicators and remain responsive to the needs of the business community in future policy decisions. 'Lower interest rates are critical to spurring investment, job creation, and sustainable economic growth,' he concluded. Copyright Business Recorder, 2025
