Latest news with #RehanNaseemBharara
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
Business Recorder
7 days ago
- Business
- Business Recorder
Consistent policies needed for economic stability: FCCI chief
FAISALABAD: Long term policies are prerequisite to achieve sustained economic stability and, in this connection, the business leaders across the country must adopt a unified stand, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI). Addressing All Pakistan Chambers Presidents Conference 2025 organised by the RCCI, he said that Pakistan was making steady progress in the 1960s but later on decline started due to multiple reasons including inconsistent policies and international and domestic meltdown. He said that once again serious efforts were made for the revival of the economy which were sabotaged and failed to give the required results. He appreciated the economic vision of Prime Minister Shehbaz Sharif and said that he has not only saved Pakistan from bankruptcy but also put it back on the path of revival. 'However, positive, practical and long term policies are required to consolidate these achievements on a sustained basis,' he said and added that consultation with genuine stakeholders is a must in policy formulation. About the problems confronted by the business community, he expressed concern over the recently amended tax laws and demanded its immediate review. He said that exports are the lifeline of Pakistan and we must satisfy exporters by restoring the Final Tax Regime (FTR). He also stressed the need to bring down the policy rate to single digit in addition to providing electricity to the industrial sector at 9 cent per unit. 'It would help our exportable surplus to compete in the international markets,' he added. About the SME sector, he termed it as an economic growth engine but added that this financially starved sector was facing multiple issues. He said that the SME sector must be facilitated with concessional loans to unlock their immediate growth potential. 'Similarly, the limit of the SME sector should also be enhanced from 80 crore to Rs 2 billion, he said and demanded that the SME sector may also be allowed to import used machinery through concessional loans. President FCCI said that the tax net should be broadened in connection with the documentation of the economy. He acknowledged the importance of women entrepreneurs and said that the government should also take special measures to encourage them by providing them concessional loans. Later President FCCI Rehan Naseem Bharara signed two separate MoUs with Movenpick Hotel Centaurus Islamabad and Wah Nobel Group. Under the MoUs, these institutions would provide services to FCCI members at subsidized rates. Copyright Business Recorder, 2025
Business Recorder
21-05-2025
- Business
- Business Recorder
FCCI President meets Chief Manager SBP Faisalabad
FAISALABAD: Exponential growth is expected from next year due to the viable economic policies and State Bank of Pakistan (SBP) must educate business community about its concessional schemes to fulfill financing needs of the business community, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI). In a meeting with Chief Manager SBP Faisalabad Waqas Kashif Bajwa, he said that SBP has introduced subsidized loans for the SME sector but they are not allowed to import old machinery under this scheme. He said that SME has limited financial resources and could not purchase new Air Jet or Sulzer power looms as a dollar has escalated from Rs. 80 to 281. He said that machinery abandoned after two or three years in developed countries could be reused in Pakistan for decades ensuring improved quality and production. He requested the Chief Manager to launch a comprehensive awareness campaign to inform businessmen about the benefits of the concessional schemes launched by SBP. He said that the definition of the SME sector could also be proportionately increased while the limit of Rs. 5million may be increased up to 10 million for female entrepreneurs. Waqas Kashif Bajwa said that SBP was regularly organizing awareness sessions about its various concessional schemes but it could not give the desired results. He assured to launch awareness sessions afresh in collaboration with FCCI to motivate the concerned stakeholders to avail this facility. Later President Rehan Naseem Bharara presented a special gift to Chief Manager SBP Faisalabad while he was also decorated with a pen to mark the 50 Years Golden Jubilee Celebrations of FCCI. Madam Qurat Ul Ain Deputy Chief Manager SBP, Senior Vice President FCCI Qaisar Shams Gucha and executive members Muhammad Ali and Waheed Khaliq Ramay were also present during this meeting. Copyright Business Recorder, 2025
Business Recorder
10-05-2025
- Business
- Business Recorder
All bodies from FCCI platform reject new tax laws
FAISALABAD: All business, trade and industrial organisations from the platform of Faisalabad Chamber of Commerce & Industry (FCCI) have rejected the new tax laws (amended) ordinance 2025 and announced that high government officials would be apprised of the concerns of the business community. Rehan Naseem Bharara, President FCCI reacted to this ordinance and said that 'dialogue is the only way to settle differences peacefully between government and business community.' However, he stressed the need for complete unity among the ranks and files of the business community to pressurize the government to withdraw this ordinance. He said that as the economy starts to take off, such disputed steps are taken to further aggravate the situation. He said that on one side the government was introducing digitalization and a faceless system to minimize the direct interaction between the taxpayers and tax collectors while on the other side this ordinance has been enforced to deploy the government officials at the business places. He said the business community was not taken into confidence about this ordinance and hence it may fail to give the desired results. He demanded that a committee comprising the government officials and business leaders may be constituted to review this ordinance. He said the business community was appreciative of the government policies which have stabilised the economy as policy rate and inflation has been brought down. 'Similarly, exports and foreign remittances have increased and in this improved situation, we were expecting four percent cut in the policy rate but only one percent decrease has been made.' Copyright Business Recorder, 2025
Business Recorder
09-05-2025
- Business
- Business Recorder
FCCI holds ‘solidarity walk'
FAISALABAD: Nation is proud of its armed forces who have given a befitting reply to the Indian aggression, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI). Addressing a solidarity walk, he said that Pakistan Army, Navy and Air force are custodian of the geographical boundaries of Pakistan and they have given a spontaneous response to the attack by downing five Indian fighter jets during last night. He said that it has proved beyond any doubt that our armed forces are professional and are in a state of full preparedness. Copyright Business Recorder, 2025
