Showing posts with label LCCI. Show all posts
Showing posts with label LCCI. Show all posts

Friday, June 6, 2014

Business leaders welcome Federal Budget 2014-15

By Syed Sajid Aziz
(Pakistan News & Features Services)

Ismail Suttar, Vice President, Federation of Pakistan Chambers of Commerce and Industries (FPCCI) and President, Lasbela Chamber of Commerce and Industry (LCCI), has declared the federal budget 2014-15 as a difficult one but the incentives offered to the export sector was a welcome step which could help in accelerating exports from Pakistan.

He said that like the previous governments, this one too has refrained from taking revolutionary steps like imposition of income tax on agriculture sector and bringing big fishes into the tax net or even taking measures to prevent major tax evasions.

He remarked that the government, instead of scrapping Benazir Income Support Scheme, has not only extended it but increased the allocations from Rs75 billion to Rs114 which could be utilized in some productive schemes such as microfinance to the poor instead of turning them into beggars.

Ismail Sattar expressed his dismay over skipping proposed Hub Dry Port from the PSDP as demanded by the industrialists of Balochistan.

He opined that the budget outlay was quite complicated and it seemed that the government would have to depend on external resources than the internal ones in order to meet the budgetary allocations.

The Chairman of the Pakistan Tanners Association (PTA) South Zone, Fawwad Jawed, reckoned that the budget announced by the federal minister for finance was quite balanced one and full of incentives to the business communities especially the export sector. He also welcomed the establishment of Exim Bank and reducing the export refinance rate.

The Chairman of the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA), South Zone, Arshad Aziz, praised the incentives given to the exports sector in the Budget 2014-15 wherein a four percent duty drawback is offered to the garments sector.

He stated that the establishment of Exim Bank was also a long time commitment by the exporters and hoped that it would be fulfilled this time. He hoped that government would clear all the pending claims of refunds as committed by the minister in his speech. 

The President of the All Karachi Industrial Alliance, Mian Zahid Husain, while welcoming the federal budget has declared it business friendly.

He said that Finance Minister, Ishaq Dar, has taken a right step in right direction by bringing retail sector into tax net. He welcomed the imposition of advance tax on purchase of heavy vehicles, properties and electricity bills over Rs 100,000 per month. He however, regretted that government has refrained from imposition of tax on agriculture.     

Tuesday, June 3, 2014

Runh’s expertise to bolster power generation

By Syed Sajid Aziz
(Pakistan News & Features Services)

“As energy demand continues to exceed supply, companies are looking for innovative ways to solve not only short-term electricity and heating issues but also future power generation needs that are cost-effective, secure, and sustainable.”

This was stated by Sohail Lashari, President, Lahore Chamber of Commerce & Industry (LCCI), while addressing a seminar, conducted by Runh Power Plant Engineering Technology Co Ltd, a global Chinese firm engaged in Engineering, Procurement, and Construction (EPC) of power plants. 

“Runh Power’s fossil fuel fired, waste to energy, and biomass power generation Technologies are particularly attractive to our country at this time,” the LCCI President added. 

“We have enjoyed a very cooperative business relationship with Pakistan since 2006, during last month, we were awarded 18MW co-generation power plant with Century Paper & Board Mills, and in the last year, we signed a 150t/h Biomass Boiler Island Project with Bullah Shah Packaging (Pvt) Ltd,” Dr Hui Jiang, Vice General Manager, Runh Power, remarked. 

The functionaries of Runh Power’s associates in the country from Century Paper, Board Mills Limited and Bullah Shah Packaging also delivered a speech highlighting Runh Power’s endeavor and services. Representative from private and government power sector were also present on the occasion and took active part in the interactive session of the seminar. 

Runh Power is a professional power plant EPC contractor, complete power plant equipment supplier and a global engineering firm that specializes in the construction of various types of power plants including coal-fired, gas-fired, oil-fired, biomass-fired, combined cycle and waste heat recovery. 

Its experience spans hundreds of power projects serving a range of industries such as steel, chemical, cement, paper, and sugar. Its branch office in Pakistan is located at Defence Housing Authority, Lahore.