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Express Tribune
14-05-2025
- Business
- Express Tribune
Industrial leaders hail armed forces
In solidarity with Pakistan's armed forces, a joint press conference was held at the Korangi Association of Trade and Industry (KATI), attended by presidents and officials from various industrial organisations. KATI President Junaid Naqi proposed that May 9 be observed as Unity Day, annually. SITE Association President Ahmed Azim Alvi stated that the Pakistan Army made the nation proud. FBATI head Sheikh Muhammad Tehseen said business leaders are fighting a war in the sphere of trade and industry.
Business Recorder
14-05-2025
- Business
- Business Recorder
Trade, industry bodies pay tribute to armed forces
KARACHI: Under the leadership of the Korangi Association of Trade and Industry (KATI), representatives from all major trade and industry associations in Karachi held a joint press conference to pay glowing tribute to the Pakistan Armed Forces for their steadfast defense and successful response to recent Indian aggression. Speaking on the occasion, KATI President Junaid Naqi lauded the Armed Forces, particularly Chief of Army Staff General Syed Asim Munir, for thwarting the Indian offensive and asserting Pakistan's strength on a global scale in an era dominated by advanced military technology. He expressed gratitude to the Army, Air Force, and Navy for their coordinated response, which not only neutralized the threat but also united the nation. He stated that the Indian military's use of top-tier fighter jets was effectively countered within minutes, leaving the adversary rattled. The swift and strategic countermeasures by Pakistan forced India to seek international mediation - a testament to the strength and preparedness of Pakistan's defense system. Naqi added that the operation rekindled national unity reminiscent of the 1965 war, with even political leadership rising above divisions to show patriotism. Prominent figures present at the conference included KATI Deputy Patron-in-Chief Zubair Chhaya, Senior Vice President Ejaz Sheikh, Vice President Syed Tariq Hussain, SITE Association President Azeem Alvi, F.B. Area Association of Trade and Industry President Tahseen Sheikh, SITE Superhighway Association President Masood Parvez, Tanners Association South Zone Chairman Danish Aman, Pharmaceutical Association's Irfan Sarwana, Vanaspati Manufacturers Association Chairman and former KATI President Sheikh Umer Rehan, as well as Farhan-ur-Rehman, Sheikh Fazl-e-Jaleel, Ehtesham-ud-Din, Saleem-uz-Zaman, and representatives from Karachi Chamber of Commerce and other trade organizations. SITE Superhighway Association President Masood Parvez appreciated KATI's initiative in bringing together all town associations on a single platform. He emphasized that while Pakistan is a peace-loving nation, its Armed Forces' strategic and courageous retaliation has earned global recognition. Despite being a defensive force, their response was more effective than anticipated, demonstrating that no external threat can compromise Pakistan's sovereignty. SITE Association's Azeem Alvi commended the military for fulfilling public expectations and emphasized the need for the government to now focus on crafting a strong economic policy in consultation with key stakeholders. He proposed that trade associations should continue holding such unified press conferences to convey their stance to the government clearly and powerfully. F.B. Area Association President Tahseen Sheikh hailed the Pakistan Air Force's lightning-fast response, stating that downing India's advanced fighter jets within hours shocked the enemy and uplifted the spirits of overseas Pakistanis. Tanners Association's Danish Aman remarked that India's aggression inadvertently united Pakistan once again. He noted that divisions within society faded as the entire nation came together; inspiring youth who were once considering emigration to now contribute to national progress. Vanaspati Manufacturers Association Chairman Sheikha Umer Rehan praised the Armed Forces' bravery and precise strategy that forced India into retreat. He said India has learned that it can no longer threaten Pakistan, especially regarding water aggression, and expressed hope that the Kashmir issue would also move closer to resolution. He urged the business community to play their part in strengthening Pakistan economically, just as the military had defended it militarily. Zubair Chhaya, Deputy Patron-in-Chief of KATI, concluded the conference by thanking Allah for the nation's victory and saluting the Armed Forces under General Asim Munir's leadership. He honoured the civilians and children who were martyred during the Indian attacks and said that the military's response, which began with verses from the Quran, transformed the defense of Pakistan into an unreachable fortress. 'This was perhaps the world's first war that began at dawn and ended by afternoon with a decisive Pakistani victory,' Chhaya said. He also applauded the Pakistani media for responsibly countering Indian propaganda and showing the world that Pakistan is a peace-driven, mature nation. The event was also addressed by KATI Senior Vice President Ejaz Sheikh and Vice President Syed Tariq Hussain, who echoed similar sentiments and called for national unity beyond the battlefield, especially in strengthening the country's economy. Copyright Business Recorder, 2025
Business Recorder
10-05-2025
- Business
- Business Recorder
SAI urges govt to withdraw recent ITO
KARACHI: The SITE Association of Industry (SAI) has made an urgent appeal to the Prime Minister of Pakistan to withdraw the recently promulgated Income Tax Ordinance (Ordinance No IV of 2025), citing serious concerns over its constitutionality and adverse impact on the formal business sector. In an appeal to the Prime Minister, SAI President Ahmed Azeem Alvi acknowledged the government's ongoing efforts to improve the business environment but warned that the proposed amendments risk derailing these efforts by imposing harsh and disproportionate measures on formal sector businesses. 'The new provisions undermine the documented economy, discourage compliance, and may reverse the progress made in broadening the tax base,' SAI President stated. 'These amendments are not only economically burdensome but also legally problematic. They appear to violate constitutional guarantees, the principles of natural justice, and the fundamental concept of 'no taxation without representation' enshrined in Article 77 of the Constitution.' SAI emphasized that bypassing parliamentary procedures to implement such sweeping changes sets a troubling precedent and damages investor confidence at a time when economic stability is desperately required. The SITE Association has urged the government for immediate withdrawal of the controversial amendment. Copyright Business Recorder, 2025
