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Business Recorder
8 hours ago
- Business
- Business Recorder
COAS Munir instructs FBR to have dialogue with businessmen over arrest powers, penalties: FPCCI
While focusing on the recently enacted expansions of the Federal Board of Revenue's (FBR) powers, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh with the trade and industry's delegation met Chief of Army Staff (COAS) Field Marshal Syed Asim Munir, NI (M). who assured them of his full support for the economic growth of the country, according to a FPCCI statement on Tuesday. The development comes days after Pakistan's two largest cities - Karachi and Lahore - faced partial and complete market closures over a strike call by traders against what they called 'anti-business' tax measures introduced in the Finance Act 2025. Karachi, Lahore hit by strike against 'anti-business' tax measures In the Finance Act, the government expanded the FBR powers with Sections 37A and 37B, which empower the tax authority officials with arbitrary arrests; Section 21(S), which imposes harsh penalties on cash transactions of Rs200,000 or more; mandatory digital invoicing under SRO 709; and the imposition of e-Bilty under Section 40(C). 'Mr Atif Ikram Sheikh maintained that the business community is immensely thankful to Field Marshal Asim Munir for immediately directing that the new provisions; particularly those added under Sections 37A and 37B of the Sales Tax Act 1990, pertaining to arrest and detention; be held in abeyance; and, for instructing the FBR to enter meaningful and solution-oriented dialogue with stakeholders and address their concerns,' the FPCCI statement read. The statement further said the delegation had presented a comprehensive overview of the challenges faced by the industrial sector – with particular emphasis on the recently enacted expansions of the FBR's powers. 'Additionally, the GHQ will support economic activities in the country through the platform of Special Investment Facilitation Council (SIFC); fostering an environment of collaboration and trust.' The business community's delegation also called for interest rates to be brought down in line with inflation to stimulate businesses and economic activities. It also highlighted the delay in notification of the Export Facilitation Scheme (EFS) amendments relating to exclusion of cotton and cotton yarn from the scheme; and, imposition of an 18% sales tax on their imports, according to FPCCI statement.
Time of India
a day ago
- Climate
- Time of India
Retaining walls to avert flooding remain unbuilt across Pune city areas
1 2 Pune: This week, July 25 marks one year since massive flooding took place in the city's Ektanagari society and surrounding localities of Sinhagad Road, sparking massive damage to property, disaster relief efforts, and many promises of improvement by authorities. Yet, the assurance of "building retaining walls to avoid such incidents again" remains on paper — not just for Ektanagari but also along the Ambil Odha that flows through the Parvati area, which witnessed major flooding in 2019. While construction of a retaining wall along Ambil Odha was even initiated by civic authorities in 2022, it was left halfway finished a year later, citing the undelivered promise of Rs200 crore in funds from state govt for the project. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune Meanwhile, local residents of such areas live in fear of the next heavy spell of monsoon rains, saying authorities have provided them with not much more than hollow claims. Ektanagari resident Ujjawala Taral told TOI, "The civic administration must take steps for a permanent solution. The rainy season creates terror of flooding in our vicinity. If retaining walls are built or any other solution found, it will reduce the probability of waterlogging." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Citadel by Mahindra – Homes with a Modern Edge Mahindra Citadel Enquire Now Undo For this vulnerable society, Pune Municipal Corporation had announced a redevelopment project — an Urban Redevelopment Scheme cluster as per Section 14.8 of the Unified Development control and Promotion Regulations (UDCPR). This involves relocating 1,383 residential units and 67 shops from the flood-prone blue line areas of Ektanagari, Vitthalnagar, and Nimbajnagar in the Wadgaon zone to PMC land in Hingne Khurd Survey No. 19, so as to permanently eliminate flood risk to existing buildings. However, the project is yet to take off. The journey has been a much longer one for residents along Ambil Odha. In 2019, after Katraj lake filled up to its maximum capacity and water overflowed during the monsoon, massive flooding was witnessed in the Tangewala society near Aranyeshwar. Water also inundated the parking lot of Treasure Park society, damaging over 600 vehicles, alongside causing extensive damage in the Gururaj society. Residents of these affected areas said a 400m retaining wall should have been built long ago to guard them against the likelihood of flash floods again. But after a mere 100m, work stopped completely. Parvati resident Anant Kharat said, "Authorities should not ignore complaints of citizens. Thousands of people living under the threat of flooding could be saved if a wall is built here at the earliest." Pravin Nangude, another resident of the same area, said, "The semi-built wall has left us in fear of a repeat of floods. PMC should make sure that all properties are safeguarded and the wall is completed right away." PMC officials refuted that they had started construction of protective culverts and retaining walls along vulnerable nullahs. In 2023, state govt had announced a Rs200 crore package for strengthening flood protection infrastructure, to be spent at locations in five assembly constituencies. However, civic officials said that after PMC issued tenders, controversy erupted and the process had to be scrapped and restarted. Asked why it has taken so long to complete the pending work, Santosh Tandale, a senior official of PMC's drainage department, said, "The civic body has legal limitations for building retaining walls on private properties. We have reached out to state govt for funds."
Express Tribune
a day ago
- Climate
- Express Tribune
Encroachments heighten threat of urban flooding
While climate change can be considered the obvious reason behind extreme weather patterns, the scale of damage reported across multiple major cities across Punjab in the aftermath of the recent monsoon rains appears to have its roots in something much more sinister. According to reports received by the Express Tribune, over 829 illegal encroachments have been recorded on rivers, streams, and other natural water passages across the province, obstructing the flow of water. Multan Zone had the highest number of encroachments, 676, while Sahiwal, Bahawalpur, and Dera Ghazi Khan divisions recorded 153 encroachments. These encroachments have intensified the risk of urban flooding in low-lying areas. Under the Irrigation, Drainage and River Act 2023, interfering with natural waterways or undertaking unauthorized construction is a punishable offense. However, enforcement on the ground remains weak. Experts are of the opinion that residential and commercial construction near rivers has significantly reduced floodplains, impeding the natural flow of water. Over 114 people have lost their lives while hundreds of others have been injured due to heavy monsoon rains and floods hitting Punjab over the past one month. Affected districts include Chakwal, Rawalpindi and Mandi Bahauddin, where critical infrastructure has also suffered major damage. Urban planning expert Sani Zahra stated that the primary reason behind flooding in major cities was their outdated and insufficient sewerage system. 'For example, in Lahore, more than 40 per cent of drainage lines are either blocked or inadequate for the growing population while several drains have also been overtaken by illegal construction, causing rainwater to accumulate on the streets and roads,' noted Zahra. Conversely, Dr Zulfiqar Ali, an environmentalist, noted that due to climate change, monsoons had become more intense. 'Rising temperatures increase atmospheric moisture, leading to more frequent cloudbursts and heavy rains. Additionally, more than 7,000 glaciers in the north are rapidly melting, causing flash floods and surges in streams and rivers. Rampant deforestation and unplanned construction in hilly areas have further intensified flooding. Over the last two decades, Punjab has lost 30 per cent of its forest cover, resulting in soil erosion and increased river silt, which narrows the waterways, exacerbating flooding,' explained Dr Ali. Between 2020 and 2025, more than 400 people lost their lives in Punjab due to rain and flood-related incidents, with financial losses estimated to exceed Rs75 billion. The most devastating year was 2022, when 15 districts were affected, 223 deaths were reported, and damages surpassed Rs200 billion. Many believe that 2025 is proving to be yet another disastrous year after 2022, with extreme weather patterns worsened by human negligence. Hence experts advocate the need for both short and long-term measures to address the climate crisis, including the removal of encroachments from water channels, installation of modern drainage systems, reforestation, and climate-resilient disaster management plans. Meanwhile, the Punjab government has initiated work on integrated sewerage and flood drainage systems in 189 cities, with an allocation of Rs500 billion. Syed Zahid Aziz, Head of the Punjab Municipal Development Fund Company, claimed that 13 rainwater storage ponds were being built in Lahore to raise groundwater levels. 'Additionally, separate pipelines for sewerage and rainwater are being laid, with the new systems in Lahore capable of handling up to 200mm of rainfall,' informed Aziz.
Express Tribune
2 days ago
- Business
- Express Tribune
Sugar, power and patronage
In the digital age, there's no excuse for opacity as a transparent digital dashboard that tracks sugar from mills to wholesalers to retailers would make it harder for hoarders and profiteers to operate undetected. Photo: file Listen to article Pakistan's recurring sugar crises have become a telling reflection of how entrenched elite interests continue to manipulate the economy under the guise of policy. The latest surge in sugar prices, now hitting between Rs180 and Rs210 per kilogramme despite official claims of intervention, shows just how far removed state actions are from public welfare. What is unfolding isn't simply mismanagement. It's a system that protects the powerful and punishes the public. In July 2024, the federal government announced with much fanfare that it had reached an agreement with sugar mills to sell sugar to wholesalers at Rs165 per kg. This was framed as a breakthrough deal. But within days, the mills began violating the agreed price, resuming supply at Rs175, not Rs165. Even at inflated rates, sugar remains scarce in wholesale markets. The public, meanwhile, continues to pay well over Rs200 per kg in major cities like Karachi and Lahore. This was not just a policy failure. It was the illusion of reform – an orchestrated move to deflect public outrage without touching the roots of the problem. And at the root lies one uncomfortable fact: the sugar sector is not regulated by the government. It is effectively governed by itself. The concentration of political and economic power is stark. The Sharif family, which sits at the core of the current ruling coalition, owns major sugar mills. That the same actors who draft economic policies also control production and pricing of sugar reveals a conflict of interests so blatant that it no longer shocks. This overlap turns policy into patronage, and governance into a tool for private gain. Earlier this year, the government allowed sugar exports even as domestic stocks were under pressure. Predictably, local prices soared. Then came the tax-free import of 500,000 metric tons of sugar; a move that drew criticism from the International Monetary Fund, which questioned both its timing and its lack of transparency. No one has explained who received import licences, under what conditions, or how the decision was justified while government revenues continue to bleed. What the country witnessed was a two-way windfall: profits made on the export side and further gains through duty-free imports. Also there is an issue of price collapse when the shipments arrive in November; around the time sugar mills will be buying from growers, giving them leverage to manipulate buying prices. Throughout all this, regulators have remained silent. The Competition Commission has issued no inquiry into possible cartelisation. The Federal Board of Revenue (FBR) has not released any audits on sugar mill compliance or tax contribution. No action has been taken against mills for openly breaching their agreement with the government. When institutions with legal mandates refuse to act, the market ceases to be a marketplace. It becomes a racket. This isn't new. But it's become more brazen. The previous PTI-led government also faced sugar price hike in 2020. However, its response was markedly different. Then prime minister Imran Khan ordered a wide-ranging inquiry, involving the FIA, SECP, FBR, and other agencies. The investigation looked into hoarding, tax fraud, price manipulation, and the misuse of subsidies. Importantly, it didn't shy away from naming allies or investigating politically connected individuals within PTI itself like Jahangir Tareen. The inquiry report was published in full. While it triggered backlash, it also marked a rare moment where the state asserted its regulatory role over an entrenched industrial elite. The investigation was abandoned and charges dropped when the PTI government was removed. What we are seeing now is the opposite. Instead of confronting the sugar mafia, the current government has aligned itself with it. Instead of enforcing transparency, it has shielded its members from scrutiny. At every step, decisions have served the interests of the few at the expense of many. This has real human costs. Sugar is not just a luxury good. It is a daily essential for households and a critical input for small businesses. Rising sugar prices drive up food inflation, burden already stretched family budgets, and hurt bakeries, tea stalls, and street vendors across the country. When a government facilitates price spiral through weak enforcement and preferential trade decisions, it doesn't just fail the economy. It abandons its moral claim to serve the people. To fix this, Pakistan must first acknowledge that the sugar crisis is not a temporary market blip. It is a symptom of a deeper structural disease: the collusion between political elites and monopolistic interests. The solution begins with cutting these links. Public officeholders, and their immediate families, must be barred from owning or profiting from industries they are in a position to regulate. This principle is basic in any functioning democracy. Without it, policy becomes an instrument of personal enrichment, not public service. Next, regulatory institutions must be depoliticised and empowered. Agencies like the CCP, FBR, and SECP should have independent boards, professional leadership, and the authority to publish findings without seeking ministerial approval. If sugar mills are in violation of tax laws or pricing agreements, the public has a right to know. Trade policy must also be demystified. Export and import decisions, especially for essentials like sugar, should not be made behind closed doors. They must be based on evidence, presented in parliament, and subjected to public scrutiny. Import licences should be granted through open bidding, and their recipients disclosed proactively. In the digital age, there's no excuse for opacity. A transparent digital dashboard that tracks sugar from mills to wholesalers to retailers would make it harder for hoarders and profiteers to operate undetected. It would also empower consumers and watchdog groups with real-time data. Finally, subsidies and tax exemptions must be subjected to rigorous review. No tax waiver or import concession should be granted without a clear, documented public interest rationale. Otherwise, they will continue to be used as vehicles for elite enrichment. The sugar industry has become a symbol of how deeply elite capture runs in Pakistan. But it can also become a turning point. If the state can confront the sugar mafia – not with hollow deals but with real accountability – it can begin to rebuild public trust and economic fairness. If it cannot, the crisis will return. Prices may dip briefly, but the profiteering will continue. This is not just about sugar. It is about who the system is designed to serve and who it leaves behind. The writer is a graduate of the University of British Columbia
Business Recorder
3 days ago
- Business
- Business Recorder
Business activities remain normal in twin cities
ISLAMABAD: The business activities remained normal in the twin cities of Islamabad and Rawalpindi, as businessmen did not observe a shutter down strike against the extraordinary powers of the Federal Board of Revenue (FBR) to make arrests under Finance Act 2025. The tax-related issues concern the implementation of the Finance Act 2025, including arrest powers under 37A of the Sales Tax Act, payment of Rs200,000 through cash, e-bility, and other enforcement provisions introduced under the Finance Act 2025. Shops and businesses remained open in all the key and local areas including main Murree Road, Saddar, Satellite Town and old city. Meanwhile, President Islamabad Chamber of Commerce and Industry (ICCI) Nasir Qureshi was of the view that the business community of the federal capital did not support the strike call. 'We have had discussion with Haroon Akhtar, SAPM on industries and he has assured to take up the matter with the PM - therefore, it's our responsibility to wait for a few days to see the outcome of his assurances,' he added. The 12-member committee has been constituted under the Chairmanship of Haroon Akhtar Khan, Special Assistant to the Prime Minister on Industries and Production. The committee also included Minister of State for Finance Bilal Azhar Kayani, PM's Coordinator on Trade Rana Ehsan Afzal Khan, FBR Chairman Rashid Mehmood Langrial, and representatives nominated by the business community and chambers of commerce. The committee will hold detailed deliberations over the next 30 days and present a consensus-based and workable solution to the prime minister and the federal cabinet. The business community openly shared their concerns and suggestions during the meeting, and the government expressed its commitment to take all stakeholders into confidence. It was agreed that every effort would be made to address traders' concerns related to transactions and to avoid causing any difficulties for the business community. Meanwhile, President All Pakistan Anjuman-e-Tajiran Ajmal Baloch said that the traders will hold protest demonstrations across the country on July 26 against new amendments in the finance bill. 'We are waiting for the reply from PM Office, and in the meantime our token protest will be held as per schedule, in the second phase we will go for token shutter down strikes,' Baloch said. He slammed the bureaucracy and said that they work with deception, and if the government failed to take back the new powers given to FBR officers, we will increase pressure. Copyright Business Recorder, 2025
