Latest news with #MCCI
Express Tribune
4 days ago
- Business
- Express Tribune
Govt unveils maritime chamber
Listen to article Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, has announced the establishment of the Maritime Chamber of Commerce and Industry (MCCI) to promote the blue economy and enhance environmental sustainability across Pakistan's maritime sector. Speaking at the Pakistan Business Council Forum on Saturday, according to an official statement, the minister stressed the urgent need to align maritime development with sustainability goals, particularly in the context of increasing climate-related challenges in the Global South. He pointed out that Pakistan's coastal regions are particularly vulnerable to rising sea levels, extreme weather events, and environmental degradation, underscoring the necessity of a dedicated platform to drive eco-conscious policymaking. The minister stated that the MCCI will offer a specialised institutional framework to unify stakeholders from across the maritime spectrum, including ports, shipping, logistics, fisheries, and marine services. "This chamber will not only support investment and innovation in the maritime sector but also prioritise sustainability at ports, promote green technologies, and foster carbon reduction strategies," said Chaudhry, as per the statement. He reiterated the government's commitment to public-private partnerships and invited collaboration with environmental experts, industry leaders, and civil society to ensure that maritime growth supports both national and international climate objectives. Chaudhry also reassured the business community that their concerns are being acknowledged and addressed, citing active coordination with the chief minister of Sindh to ensure cohesive and integrated action across all levels of governance. Additionally, the maritime minister outlined the ministry's strategic roadmap for modernising Pakistan's port infrastructure. The focus areas include digitalisation, efficient cargo handling, and embedding environmental sustainability in port operations. The Pakistan Business Council expressed strong support for the initiative, recognising the establishment of the MCCI as a significant step toward building a climate-resilient and economically dynamic maritime economy, the statement added.
The Hindu
29-04-2025
- Business
- The Hindu
Preparation of city logistics plan for Chennai and Coimbatore is on
The preparation of city logistics plans for Chennai and Coimbatore has been under way, said Sandeep Nanduri, Managing Director, Tamil Nadu Industrial Development Corporation (TIDCO). At a session on State Logistics Policy, organised by TIDCO in collaboration with the Madras Chamber of Commerce and Industry (MCCI), Mr. Sandeep made an elaborate presentation, according to which the multi-modal logistics park (Phase 1), coming up at Mappedu, near Chennai, will become operational by 2027. 'The MMLP Coimbatore land acquisition is in advanced stages,' he said at a session on State Logistics Policy that was organised by Tamil Nadu Industrial Development Corporation (TIDCO) in collaboration with the Madras Chamber of Commerce and Industry (MCCI). Container Corporation of India Ltd (CONCOR) will be setting up a net zero ambient cold storage warehouse at Sriperumbudur, near Chennai. 'We chose this area mainly because we had land there and that's the electronics corridor of Tamil Nadu. We have a 1.30 lakh sq ft of warehouse space at Sriperumbudur. The tenders will be coming out soon,' said Area Head – III, CONCOR. 'Our target is by next April, we should have it ready. The investment will be substantial at around Rs.60 crore. We are in talks with MNCs in Sriperumbudur,' she said at the sidelines of Tamil Nadu industries secretary V Arun Roy said, 'While current logistics infrastructure is satisfactory, a lot more needs to be done to improve this, including addressing congestion in roads, reducing transit time from industrial clusters to the ports, improving ports and addressing gaps in cold chain infrastructure,' he said. Ramkumar Shankar, Managing Director of Chemplast Sanmar Ltd and President of the Madras Chamber of Commerce and Industry, said: 'Right now, the MCCI is working on a study on the existing Chennai Airport. There are lot of good things that have come up at the airport and changes too. There are certain constraints on the passenger end, but we are also focusing on the cargo side as well in the study. We will present the findings to the government four weeks from now,' he added. Member Secretary, Chennai Unified Metropolitan Transport Authority (CUMTA), gave examples of problem statements and what strategies could be used. One problem statement was movement of air parcel cargo to airport gets complex using LCV and delivery vans causing congestion during peak hours and impacting passenger movement. He suggested that utilization of Metrorail network can be a strategy.
Zawya
19-02-2025
- Business
- Zawya
Nigeria: High lending rates, lean loan sizes continue to hinder productivity — Report
Despite efforts and interventions by government, and other relevant authorities, at easing the pains of operators in the nation's manufacturing sector, a recent report released by the Manufacturers' Association of Nigeria (MAN), the Manufacturers' CEOs Confidence Index (MCCI), has identified bogus lending rates and lean size of commercial bank loans, to manufacturing, as some of the factors militating against productivity in this very critical sector. Tagged, 'MCCI Q4, 2024, the new report revealed that 76 percent of the CEOs of member companies interviewed were of the strong view that bank lending rates, in the period under review, were rather too high, and, in consequence, never encouraged productivity during the period. The MCCI report also showed that operators in the sector believed the size of loans available to the sector was rather too lean to make any impact in the period under review, as 58.3 percent of those interviewed disagreed with the claim that the size of bank loans encouraged productivity during the period. According to the report, as a result of further hike in the benchmark interest rate from 27.25 percent in September, to 27.5 percent in November 2024, manufacturers experienced increases in bank lending rates during the reviewed period, with most charging manufacturers between 35 percent and 48 percent in Q4, 2024. 'The exorbitant cost of borrowing has drastically constrained the sector's access to credit,' the report stated. Related News FG strengthens loan access for small business owners FG secures $1.1bn AfDB loan Housing loan: FMBN disburses N455.132bn in 42 years Operators in the sector also gave thumbs down, regarding the impact government expenditure really had on the sector's productivity, since only 37.2 percent of manufacturers interviewed believed such impact was strong on the sector, during the period. On the operating environment, the operators identified multiple regulations, multiple taxes, high energy costs, access to the national ports, local sourcing of raw materials, inventory of unsold goods and lack of patronage of locally-made goods by government MDAs, as some of the factors that made the environment hostile to manufacturing in the reviewed period. For instance, 83.3 percent and 86.1 percent of manufacturers interviewed believed over regulation and multiple taxation by the government, depress manufacturing productivity, respectively; 63.2 percent insisted port gridlocks were also a huge issue to contend with during the period in the sector Further analysis into the period also revealed a surge in production and distribution costs by 18.2 percent in the quarter, while the period also witnessed a further contraction of capacity utilisation by 0.8 percent in the sector. The report also revealed a dip, by 1.2 percent, from a contraction of 3.2 percent in Q3 2024, in the volume of investment that went into the sector in Q4 2024. The report, however, indicates a favourable change in sales volume recorded during the period. On the sector's outlook in 2025, the report described the sector as standing between the crossroads of optimism and reality checks. '2025 is a pivotal year, and the outcome will be crucial for this most significant sector. The exorbitant electricity tariffs hike, high exchange rate, multiple taxation, high interest rate, low credit access and insecurity remain some of the top challenges of manufacturers,' it stated. READ ALSO: $750m SABER programme: 33 states, FCT sign subsidiary loan agreement
Express Tribune
30-01-2025
- Business
- Express Tribune
Prudent monetary policy key to stability
Listen to article KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad credited the central bank's prudent monetary policy for restoring macroeconomic stability, according to a press statement released on Thursday. Addressing a meeting with the Multan Chamber of Commerce and Industry (MCCI), the SBP governor highlighted recent policy initiatives aimed at improving the ease of doing business. These include export and import facilitation, streamlined dividend repatriation, and enhanced support for freelancers and IT exporters. He also emphasised efforts to strengthen Pakistan's digital financial ecosystem, as per the statement. The SBP governor noted a significant rise in Small and Medium sized Enterprise (SME) financing, which increased from Rs543 billion in December 2023 to Rs638 billion in December 2024. Similarly, agriculture credit disbursement saw a 14.5% year-on-year increase, reaching Rs1,266 billion in the first half of FY25. Ahmad also acknowledged the vital role of the MCCI in economic development.
