Latest news with #KhalidUsman
Business Recorder
a day ago
- Business
- Business Recorder
LCCI demands cut in DC rates, curbs on sealing of industries
LAHORE: The Lahore Chamber of Commerce and Industry has raised serious concerns about the plight of industrial units operating in Saggian Lahore and surrounding areas under the jurisdiction of Ravi Urban Development Authority (RUDA). In an emergency meeting held at LCCI, industrialists unanimously appealed to Punjab Chief Minister Maryam Nawaz to take immediate notice of the crisis. LCCI Acting President Engneer Khalid Usman, former LCCI President Muhammad Ali Mian, Convener of Standing Committee Ali Sheraz, Zafar iqbal, Akram dewan, Muhammad Ameen, Muhammad Hanan, Muhammad Yonus, Tanveer Hussain, Muhammad Adeel and Advocate M Waqar also spoke on the occasion. Engineer Khalid Usman and Muhammad Ali Mian highlighted that major issue is imposition of DC rate that is 10 times higher than standard rates in the jurisdiction of RUDA. They said that over 1,000 industrial units, ranging from small workshops to large factories, are facing existential threats due to these inflated charges. Usman emphasized that these industries employ more than 10,000 workers directly and support thousands of families indirectly. If RUDA continues with this unfair taxation, we will see massive job losses and industrial collapse. While painting a grim picture of the potential consequences, they said that forcing industries to pay unaffordable DC rates will lead to shut downs. When factories close, workers lose livelihoods, and that creates social unrest and law-and-order problems. They demanded immediate reduction in DC rates to reasonable levels, restriction on sealing or eviction of industrial units and consultation with stakeholders before finalizing new rates. Participants of the meeting said that industrialists have pinned their hopes on CM Maryam Nawaz's intervention. 'We believe the Chief Minister, who has prioritized economic development, will understand our plight and take necessary action. They warned that destabilizing this industrial hub could have ripple effects across Punjab's economy. These industries feed into larger supply chains. Copyright Business Recorder, 2025
Business Recorder
2 days ago
- Business
- Business Recorder
LCCI underscores need for a balanced, strategy-driven budget
LAHORE: A balanced and strategy-driven federal budget is essential for Pakistan's economic future, as it can define the country's direction and stabilize a struggling business climate. This was upshot of the speeches delivered by the LCCI Acting President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry, former LCCI President Muhammad Ali Mian, former Senior Vice President Ali Hussam Asghar and experts from different sectors while speaking at the awareness session on the upcoming Federal Budget 2025-26, organized by the Lahore Chamber of Commerce and Industry. Executive Committee Members Asif Malik, Firdous Nisar, Sheikh Muhammad Fayyaz, Abdul Majeed, Karamat Ali Awan, Syed Hassan Raza, Syed Salman Ali. Ehtsham ul Haq, Rana Muhammad Nisar, Shouban Akhter, former EC members Naeem Hanif, Malik Muhammad Usman, Yousaf Shah and Chaudhry Muhammad Arshad were also present. Speaking at the session, Acting President Engr. Khalid Usman said that the key pillars of the budget should include expansion of the tax net, relief for existing taxpayers, protection of domestic industry, elimination of duties on imported raw materials, growth of GDP and exports meaningful economic reforms. He said that tariffs must be used as a policy tool to protect domestic industries and reduce Pakistan's reliance on imports. He advocated for zero-rating customs duties and sales tax on raw materials to ensure cost-effective industrial production. He also called for targeted incentives and protections for SMEs and the auto sector which are critical for employment and economic resilience. While talking about the government's reported plan to offer electricity at five cents per unit for crypto mining, he questioned why such a competitive rate is not being extended to local industries, which are far more impactful in terms of job creation and economic contribution. He said that LCCI was the first chamber to submit budget proposals to the government. These included recommendations for reducing the cost of doing business, improving the ease of doing business, enabling SME growth using digital technology to minimize human interaction in tax administration. The LCCI also emphasized simplifying regulatory frameworks and promoting deregulation to encourage industrial expansion. Vice President Shahid Nazir Chaudhry said that high operational costs and unpredictable tax policies have discouraged both local and foreign investors. He urged the government to craft a budget that offers long-term predictability, particularly in taxation. He stressed the importance of stakeholder consultation, especially with the business community, before implementing any new tax regime. He said that unless energy costs and policy instability are addressed, Pakistan's manufacturing sector will remain uncompetitive in regional and global markets. He further added that restoring business confidence requires continuity in policy and a fair taxation system that supports genuine businesses instead of penalizing them. Former LCCI President Muhammad Ali Mian talked about tariff rationalization and gave various suggestions. He called for a pro-growth and industry-friendly federal budget that supports macroeconomic stability, promotes investment strengthens the country's industrial backbone. Former LCCI President Ali Hussam Asghar said that Pakistan's export potential remains largely untapped due to inconsistent policy frameworks and lack of facilitation for exporters. He said that enhancing exports is the only sustainable way to address Pakistan's trade deficit and foreign exchange challenges. Reviewing the current fiscal performance, participants said that according to FY 2024–25 budget documents, the FBR was initially tasked with collecting PKR 12,970 billion, later revised down to PKR 12,334 billion. The targets included PKR 5,454 billion from income tax, PKR 4,919 billion from sales tax, PKR 1,591 billion from customs duties PKR 948 billion from federal excise duty. However, in the first eleven months (July 2024 to May 2025), FBR collected only PKR 10.23 trillion, falling short by over PKR 1 trillion. The LCCI also called for an increase in the withholding agent turnover threshold from PKR 100 million to PKR 250 million to reduce the compliance burden on smaller businesses. It stressed the importance of timely issuance of tax refunds to exporters to ease cash flow constraints and encourage reinvestment into business operations. Economic policies, the Chamber said, should be designed with at least a 10-year continuity framework to ensure predictability and stability. The LCCI further demanded the abolition of the 1.8% non-refundable. Copyright Business Recorder, 2025
Business Recorder
3 days ago
- Business
- Business Recorder
LCCI's SVP made acting president of industry
LAHORE: Senior Vice President of the Lahore Chamber of Commerce and Industry (LCCI) Engineer Khalid Usman will be the Acting President of the LCCI till June 9 as the LCCI President is abroad on a personal visit. Engineer Khalid Usman is a seasoned businessman, well-regarded for his dedication to the industrial and commercial sectors. With a deep understanding of the economic challenges faced by businesses across Pakistan, he has played a significant role in shaping LCCI's initiatives that promote ease of doing business, private sector growth and regulatory reform. His leadership is particularly valuable at a time when the business community is seeking clarity on various fiscal and economic policies, especially in the wake of the recently announced national budget. He said that as Acting President, he would carry forward the LCCI's ongoing engagements with government departments, trade bodies and international partners. Engineer Usman will look after all key activities of the Lahore Chamber including high-level meetings with visiting delegations, internal policy discussions and strategic outreach to relevant ministries and regulatory authorities. He will also be presiding over important consultative sessions aimed at protecting the interests of traders, manufacturers and exporters. His tenure is seen as a continuation of LCCI's broader mission to facilitate commerce, promote industrial development and advocate for practical reforms that benefit the economy at large. Copyright Business Recorder, 2025
Business Recorder
30-05-2025
- Business
- Business Recorder
LCCI polls 2024: Commerce secy upholds DGTO's decision
LAHORE: The Commerce secretary has upheld the decision of the Director General Trade Organizations, declaring the Lahore Chamber of Commerce and Industry elections held in 2024 as completely transparent and in accordance with the law. This was stated during a press conference at the Lahore Chamber of Commerce and Industry by LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry, former presidents Mian Anjum Nisar and Muhammad Ali Mian, former Senior Vice President Ali Hussam Asghar, former Vice President Faheem-ur-Rehman Saigol and Chief Election Commissioner Nasrullah Mughal. Executive Committee Members were also present on the occasion. They said that the LCCI elections were held on September 23 and 24, 2024, with overwhelming participation from Lahore's business community, resulting in a historic victory for the PPP Alliance. The business community exercised its democratic right and elected their representatives with full enthusiasm. 'While the business community had already given their verdict on the election days, a few individuals chose to challenge the results before the DGTO in an attempt to create controversy,' they added. They said that the DGTO thoroughly heard both sides with patience, impartiality, and integrity. After examining all the evidence, including documents, videos, and election records, the DGTO issued a detailed verdict declaring the LCCI elections to be free, fair, and strictly in accordance with the rules and regulations. In the spirit of fairness, the DGTO also ordered a recount of votes, which we accepted wholeheartedly,' they said. 'The recount confirmed the same result as the original election. They said that despite this, the opposing group further appealed to the Secretary Commerce. We highly appreciate secretary Commerce who conducted a six-hour hearing, listened to both parties in detail, analyzed all evidence and ground realities, and finally endorsed the DGTO's decision. They said that this decision is not just a victory for a group but a triumph of principles, democratic values, and institutional integrity. It proves that our institutions are becoming stronger, the system is active, and truth can never be hidden. They said that we are not power-hungry or obsessed with titles, we are here with a spirit of service. The trust placed in us by the business community is a sacred responsibility. 'We have no personal enmity with anyone, but if anyone tries to weaken the Chamber's system, we will respond strongly within the framework of the Constitution and the law', they said. They extended heartfelt gratitude to their team members, supporters, voters, business leaders and elders. This is a collective success, and now we must move forward with unity and resolve. Copyright Business Recorder, 2025
Business Recorder
28-05-2025
- Business
- Business Recorder
Over 65,000 pilgrims unable to perform Hajj: Hajj operators, LCCI demand action
LAHORE: Hajj Operators Association of Pakistan and Lahore Chamber of Commerce and Industry have strongly demanded action against responsible as due to bureaucratic inefficiencies and obstacles, over 65,000 Pakistani pilgrims were unable to perform Hajj this year. The press conference was addressed by LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry, Executive Committee Member Manzoor Hussain Jafri, Chairman Punjab Hajj and Umrah Operators Association Chaudhry Adil Saboor, Abdul Jabbar Anjum, Ali Imran, Owais Jameel, Khawaja Sohail and other representatives. The participants expressed deep regret that due to delays, unnecessary complications, and poor policymaking by government bureaucracy, more than 65,000 Pakistanis registered under the private Hajj scheme were deprived of the opportunity to fulfil this sacred obligation. It was revealed that while the Saudi government announced the Hajj 2025 policy on June 28, 2024, Pakistan's Ministry of Religious Affairs intentionally delayed its policy approval until November 27, 2024, resulting in wastage of nearly five months. They strongly demanded accountability and disciplinary action against the officials responsible for this gross mismanagement. They clarified that the entire amount paid by the affected pilgrims is 100% secure. If they wish to perform Hajj in 2026, their already paid amount will be fully adjusted and no additional charges will be levied, even if the Hajj package prices increase. However, those who wish to withdraw their amount will be refunded through a proper and transparent process. LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry said that the efforts of the private sector in facilitating Hajj must be acknowledged and appreciated, rather than being undermined by bureaucratic failures. They urged the government to involve all relevant stakeholders in future policymaking for the private Hajj scheme and implement concrete reforms to prevent such incidents in the future. Copyright Business Recorder, 2025
