KARACHI: The Senate’s Standing Committee on Commerce, headed by its Senator Chairman Zeeshan Khanzada, paid a visit to the Trade Development Authority of Pakistan (TDAP) Karachi.

He was accompanied by members of the committee namely Saleem Mandiwala, Imamuddin Shouqeen, Muhammad Qasim, Khalida Ateeb. Muhammad Zubair Motiwala, CE TDAP received the distinguished senators.

The first meeting was held with a delegation of Karachi Chamber of Commerce & Industry (KCCI) led by Muhammad Tariq Yousuf and members including Haroon Farooki, Vice Chairman BMG, Jawaid Bilwani, Vice Chairman BMG, President KCCI, Tauseef Ahmed, Senior Vice President KCCI, Muhammad Haris Agar, Vice President KCCI, Junaid Makda, former President KCCI, Muhammad Younus Bashir, former President KCCI, Muhammad Idress, former President KCCI, Muhammad Ibrahim Kasumbi, former Senior Vice President KCCI, Abu Baker Shamsi, Member Managing Committee.

Tariq Yousuf briefed the standing committee on challenges being faced by business community, particularly those in the export oriented sector.

The key issues discussed during the meeting included Energy Crisis/High Energy Tariff, difficulties in establishing LCs (Letter of Credit), extremely high interest rates and non-payments of outstanding sales tax and income tax refunds.

In addition the business community expressed its apprehension about high tariff rates, cost of land and related capital costs that had negatively impacted the competitiveness of the industry.

The Chairman of the standing committee, Senator Zeeshan Khanzada, after hearing the concerns of KCCI and understanding the gravity of the issues, assured the KCCI leadership that the Senate Committee on Commerce is committed to addressing these problems.

Copyright Business Recorder, 2023