Newly elected President Karachi Chamber of Commerce and Industry (KCCI), Muhammad Saeed Shaifq has assured that he will make all possible steps to resolve growing economic tribulations with the co-operation of chamber's members. In a brief speech at the 49th Annual General Meeting of the chamber held on Thursday, he said that the country is facing number of economic issues, which are negatively affecting business and industrial activities.
He sought the cooperation of members of the chamber to resolve various issues including General Sales Tax (GST) and flood tax. Outgoing President KCCI, Abdul Majid Haji Mohammad said that during the last two consecutive years, Pakistan economy has faced unprecedented set of challenges, which have affected the economy with irreparable losses.
He said that country is facing challenges in the form of internal and external threats, post affects of global economic recession, increased inflation, slow pace of local and foreign investment, high operational cost of industries and trading concerns, deteriorating law and order situation, inclined export refinancing rates and high interest rates.
He said energy crises have badly affected the national economy, which harshly compelled the industries to function blew par and under capacity. Basic amenities and utilities such as electricity, gas, water, land and other inputs prices, which have been increased, ultimately culminating in abrupt multiplication in the cost of manufacturing and doing business.
He said inflationary trend in the food items and flood have further aggravated the situation and overall segments of the society, in one way or the other, remain affected. Leader of Businessmen Group (BMG), Siraj Kasim Teli said that the chamber is enthusiastic to play a constructive and leading role in strengthening the foundation of the business community to effectively meet the challenges of today and tomorrow. He advised elected members of managing committee and office bearers of the chamber to work for the welfare of business community and make efforts to resolve their issues without discrimination.
Earlier the meeting was president over by outgoing president KCCI Abdul Majid Haji Mohammad. According to election results, Muhammad Saeed Shafiq elected as president, Tala Mahoomd as Senior Vice President and Junaid Esmail Makda as Vice President of the chamber unopposed.
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