Latest news with #JavedBilwani
Business Recorder
19 hours ago
- Business
- Business Recorder
KCCI delegation visits KPT
KARACHI: A high level, 35-member delegation of KCCI led by Chairman KCCI Zubair Motiwala and President KCCI M Javed Bilwani visited Karachi Port Trust (KPT) on the invitation of the KPT Board of Trustees with a strategic aim of boosting national trade. A briefing on facilities available at KPT was given in connection with the Export Finance Scheme initiative of KCCI and thereafter avenues of boosting national trade with efficient port operations and infrastructure development initiatives pursued by KPT came under discussion during the meeting. Copyright Business Recorder, 2025
Business Recorder
05-05-2025
- Business
- Business Recorder
KCCI voices concerns over new tax law
KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has strongly raised concerns over the recent Tax Laws (Amendment) Ordinance, 2025, promulgated on May 2, 2025. Speaking to media after a seminar on digital invoice registration and integration organised by KCCI in collaboration with PRAL, president KCCI Javed Bilwani questioned the implementation of the new regulations, particularly the provision allowing FBR representatives to be stationed at manufacturing facilities. 'How can an FBR representative sit in our factories,' he remarked, highlighting the business community's apprehension about excessive oversight. He said that the Chamber has formally communicated its reservations to the FBR through an official letter and expressed hope that the government would reconsider its decision. He said that section 175C allows the FBR to station officers directly at business premises to monitor production and services, inviting unwarranted interference in day-to-day operations and opens doors to potential harassment and administrative overreach. Furthermore, he said that a major point of contention in new digital invoicing regulations proposed by the Federal Board of Revenue (FBR) is that the FBR reportedly did not consult with the Karachi Chamber before finalising the digital taxation framework. While acknowledging that 'e-invoicing and digital transactions are the future,' the Chamber criticised the implementation approach, suggesting that better outcomes could have been achieved if businesses had been taken into confidence. The deadline for compliance—June 1 for the corporate sector and July for the non-corporate sector—was described as 'insufficient' by president KCCI, calling on the FBR to extend these timelines. The Chamber also used the platform to criticize recent economic policies, particularly regarding interest rates. The President noted that the one percent reduction in interest rates announced recently was 'inadequate' for business growth and alleged that the Prime Minister had failed to fulfil his promise of bringing interest rates down to single digit. During the seminar, FBR's Director General IT Ayesha Farooq along with chief commissioner LTU Zubair Bilal and others stated that digital transformation is ongoing at FBR and e-invoicing is one factor in this transformation.' She confirmed that consultations with the business community are continuing to address their concerns. According to her, the e-invoicing system will initially apply to the Fast-Moving Consumer Goods (FMCG) and corporate sectors with various software solutions currently under development to facilitate the transition. Copyright Business Recorder, 2025
Business Recorder
28-04-2025
- Business
- Business Recorder
KCCI President concerned over losses due to ongoing sit-ins near Sukkur
KARACHI: President of Karachi Chamber of Commerce and Industry (KCCI), Javed Bilwani has expressed serious concern as the business community is suffering losses of billions of rupees every day due to ongoing sit-ins near Sukkur, road closures which has hit delivery of goods adversely. There has been a transporter strike for four days, deliveries have stopped due to the closure of national highways for 11 days, and production is being badly affected, said Javed Bilwani. He said that the industrialists are suffering huge losses due to spoilage of goods; export orders are being badly affected. He said in the meeting of the Council of Common Interest chaired by Prime Minister Shahbaz Sharif, an immediate solution should be found to the issue of ongoing sit-ins near Sukkur, road closures. Not only Karachi but the entire country's business community is very worried due to the closure of the national highway. Javed Bilwani said, distressed industrialists are talking about moving their businesses out of the country, fed up with the situation. The business community and the country's economy cannot afford further losses in the current situation. Meanwhile the ongoing blockade of motorways connecting Sindh and Punjab has entered its fourteenth day, as farmers in Sindh protest against Punjab's plans to develop a new irrigation system. Sindhi farmers fear that the project will severely impact the province's water supply, potentially leading to long-term droughts, destruction of crops, and barren agricultural lands. Industrial leaders, including Ismail Suttar, Founder Salt Manufacturers Association of Pakistan (SMAP) have raised alarms over the escalating situation. 'The disruption of transportation routes is devastating, especially during Pakistan's ongoing economic crisis,' Suttar said. 'Unfortunately, despite the seriousness of the matter, the media has remained silent, and no concrete response has come from government officials.' Karachi's port operations have been severely affected, with thousands of trucks and Lorries stranded along main transportation routes. This standoff is causing mounting holding and transportation costs for manufacturers, while fears grow that tonnes of edible supplies may spoil, further straining the supply chain. 'Our industries are always the first to suffer during unrest,' Suttar emphasized. 'Sindh and Punjab are industrial powerhouses, heavily reliant on each other for raw materials and market supply. Disrupting their link is not just a regional problem; it's a national economic threat.' Many industries in both provinces have been forced to suspend operations due to the lack of raw material supply. The disruption is hitting both agriculture and manufacturing sectors hard, threatening jobs and leading to significant financial losses. Copyright Business Recorder, 2025
