12 hour protract load-shedding in industrial areas a conspiracy to destroy industry and economy of Pakistan: Siraj Kassam Teli

Karachi: Mr. Siraj Kassam Teli, Chairman BMG Group and former President Karachi Chamber of Commerce and Industry, Mian Abrar Ahmed President Karachi Chamber of Commerce and Industry, Mr. Younus Muhammad Bashir, Senior Vice President, Mr. Zia Ahmed Khan, Vice President of KCCI have expressed their deep concern over persistent load shedding in industrial areas which now prolonged to 12 hours from 8 hours.

KCCI leadership severely criticized KESC and it mismanagement that have catastrophic loss to industry economy and employment. They said if such attitude continued soon industry will be closed down and huge unemployment would be witnessed.

They further said if government remained silent spectator and did not intervene situation would be worsened and will lead to volcanic shocks and tremors to Industry and Trade .In such a highly global competitive atmosphere where economic price gives you competitive edge but rising cost in situation like this will make Pakistani products uncompetitive in the international markets.

KCCI leadership appealed to President of Pakistan Mr. Asif Ali Zardari, Prime Minister of Pakistan Syed Yousuf Raza Gilani, Dr. Asim Hussain, Minister for Petroleum and Natural Resources to intervene the matter and resolve the circular debt issue that uninterrupted supply of electricity could be made possible to industry to enable it to continuously play its role in trade particularly export enhancement.

Delegation under leadership of Siraj Kassam Teli holds successful talks with Chairman FBR, SRO 283 restored while fate of SRO 1012 will be decided later

A high level business delegation under the leadership of Mr. Siraj Kassam Teli, Chairman, Businessmen Group (BMG) and former President Karachi Chamber of Commerce and Industry, held an emergency meeting with Mr. Salman Siddique, Chairman FBR, regarding havoc created by SRO.1012 with changes in Zero-Rated Tax Regime for five export sectors.

After intense negotiation with FBR Chairman by Siraj Kassam Teli leader of Business Community and Former President KCCI, Mr. Haroon Farooki, Vice Chairman BMG group and former President KCCI, the successful negotiation brought a fruit of restoration of SRO 283 while it has been decided that fate of SRO 1012 will be decided in consultation with KCCI committee and FBR on mutual consent.

The notification for restoration of SRO 283 is being issued by FBR. The delegation included Mr. Haroon Farooki, Vice Chairman BMG group and former President KCCI, Mr. Younus Muhammad Bashir, Senior Vice President KCCI, Mr. Muhammad Ibrahim Kasumbi Chairman GST sub-committee KCCI, Mr. Muhammad Irfan Moton, Chairman SITE Association of Industry, Mr. Najmuddin Chughtai, Chairman , Pakistan Chemicals and Dyes Merchants Association, Mr. Muhammad Usman, Chairman, Pakistan Yarn Merchants Association, Mr. Tahir Mahmood Sheikh, Central Vice Chairman from Punjab and KPK for Pakistan Yarn Merchants Association Faisalabad.

The drastic and unilateral changes had adverse affects on trade causing huge loss to economy and national exchequer since many containers were held at port due to manipulation of the said SRO by relevant Collectorate officers. The business community welcomed the move and praised the efforts of Mr. Siraj Kassam Teli, Mr. Haroon Farooki and other KCCI leadership who made efforts to get resolved this hard issue amicably.

For more information, contact:
M. Shafiq Baig
Public Relations Officer
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road,
Shahrah-e-Liaquat, Karachi-74000
Tel: +9221 9921 8001 -09
Fax: +9221 9921 8010
Email: pro@kcci.com.pk, pro2@kcci.com.pk
Website: http://www.kcci.com.pk/