Karachi, : Advisor to PM on Finance Dr Abdul Hafeez Sheikh had an interactive session with foreign investors at OICCI on September 12th, during which he gave a comprehensive overview of the challenges faced by the economy in the past two years and how the GOP has successfully managed to stabilize the economy which is now on a recovery path. Dr Hafeez Shaikh added that the growth trend in some industries like cement, automobile and fertilizer and rapid growth noticed at PSX are very encouraging and should give confidence to investors.

The President OICCI, Haroon Rashid, welcomed Dr Abdul Hafeez Sheikh and briefed him about the critical role of OICCI and its members in the economy of Pakistan and shared that delays in tax refunds and some other issues are creating hurdles in bringing Foreign Direct Investment (FDI) in the country, as well as not being in sync with the government’s agenda of Ease of Doing Business (EODB).

The participants representing the major foreign investors operating in the country appreciated the GOP’s effort in successfully overcoming the Covid 19 challenge to the economy and taking appropriate measures for the health and safety of the people of Pakistan. OICCI members complimented the Advisor on Finance for the constructive approach adopted during the 2020-21 Budgeting process where the tariff rationalization of over 1600 items, together with rationalization of withholding taxes at import stage and many other measures contributing towards Ease of Doing Business. OICCI also appreciated the recent launch of Roshan Digital Account for overseas Pakistanis as a step in the right direction.

However, the foreign investors expressed concern on the continuation of the high rate of Turnover tax especially for high turnover but low margin sectors like petroleum and chemical businesses.
Members also vented concern on the recent incident on the Lahore-Sialkot ring road which has damaged the morale of the stakeholders, who were otherwise satisfied with the highly improved security environment in Pakistan.

OICCI President, Haroon Rasheed, recommended that the government should take a collective view of the measures to encourage foreign investment in Pakistan, including appointing a focal ministry for streamlining operating issues of foreign investors. OICCI strongly recommended that the GOP should ensure that incentives once given to foreign investors, for example vide Section 65 of the IT Ordinance 2001 in respect of new investments, should not be withdrawn while the respective projects are in implementation phase. OICCI also requested for orderly and prompt settlement of long pending tax refunds and circular debt.

OICCI members were optimistic that the country can attract large FDI by ensuring predictable, consistent and transparent policy framework and its implementation. The participants also sought Finance Advisor review of the recent announcement that investment in the National Saving scheme will not be available to retirement funds after 2022. On questions from the audience, Finance Advisor assured that the GIDC issue will be managed amicably in accordance with the Supreme Court decision and that the FBR will be more proactive and will regularly engage with key stakeholders like OICCI members in resolving all legitimate issues especially on tax refunds.

OICCI is the collective voice of the top 200 MNC’s operating in Pakistan with investment of over USD 100 Billion and contributing roughly Rs 5 billion revenue each day to the exchequer.

A phone made for power, performance and photography – HUAWEI Y9a opens for pre-orders today in Pakistan. Offering a sleek design, powerful performance and good value for money, the HUAWEI Y9a promises to be a perfect choice for consumers of every age. The smartphone brings Huawei’s trendsetting flagship specs like 40W HUAWEI SuperCharge, 64MP Quad Camera, 8GB and 128GB storage encapsulated in a design derived from the HUAWEI Mate 30 Series. HUAWEI Y9a can be pre-ordered from Monday, 14 September till Sunday, 20 September nationwide following which it shall be made available for PKR 43,999/-.

Housing a 64MP Quad Camera which packs-in Huawei’s market-leading smartphone camera technology, the Halo Ring Design makes sure you stand out in more ways than one. Not only does the design itself turn heads, but it ensures you capture key moments anytime, anywhere with outstanding clarity and beauty. Featuring a 64MP High-Resolution Camera, Night Mode, a 120° Wide Angle Photo lens, AI beautification and EIS anti-shake technology, you can be sure of perfectly social media-worthy photos. The enhanced 16MP auto selfie pop-up camera is a novel solution which allows you to enjoy the 6.63” HUAWEI Ultra FullView Display without distractions, as well as producing stunning selfies every time.

Young consumers demand a smartphone that excels at mobile gaming, and the HUAWEI Y9a certainly delivers on that front. Super narrow bezels and the enhanced auto selfie pop-up camera facilitate an unobstructed, immersive viewing experience, allowing you to enjoy a 6.63” HUAWEI Ultra FullView Display whether you are gaming, browsing or watching videos. This stylish and immersive design with 92% screen-to-body ratio is perfect for gamers, ensuring you can play without obstruction.

Mobile gamers need to have the confidence they can play for long periods without worrying about battery life. This is another area where the HUAWEI Y9a excels thanks to its 4200mAh (typical value) large battery. HUAWEI Y9a features the industry-leading 40W HUAWEI SuperCharge technology. Using this solution, users can charge the device up by nearly 70% in a 30-minute charging session. 

The smartphone category has evolved in recent years, and consumers now quite rightly expect flagship-level performance for an affordable price. Pushing the limits of what consumers can expect at its price point, the HUAWEI Y9a packs in 8GB RAM + 128GB ROM for massive internal storage and background multi-tasking. This means you can play, browse and watch for hours at a time, experiencing an easy and smooth multitasking performance. 

HUAWEI Y9a comes with the latest EMUI 10.1 software update as standard, allowing users to enjoy seamless, intelligent experiences that let them stay connected with consummate ease. 

To indulge users with a wide range of mobile apps, the HUAWEI Y9a is pre-installed with HUAWEI AppGallery – Huawei’s official app marketplace with a constantly growing list of apps, where users can simply browse and download the apps they need. And with Petal Search, Huawei brings more than a million apps straight to your phone.

The HUAWEI Y9a is available in Midnight Black, Space Silver and Sakura Pink, while it can be pre-booked from Monday, 14 September till Sunday, 20 September, 2020.

The motorway incident is shameful, it is the responsibility of the government to maintain law and order. Highways are also not safe. Innocent passengers face serious crimes on highways. The motorway tragedy is a disgrace to society and the state. The law is for the protection of citizens. We strongly condemn the statement of the CCPO. The professional officer cannot make such a statement. These views were expressed by the President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Mian Anjum Nisar, about the Lahore Motorway Violence Case addressing a special meeting held by FPCCI Women Entrepreneurs.

Expressing concern over the Lahore Motorway rape case, he said that in 2019 alone, 3881 cases of rape of women, 1359 cases of sexual abuse of children, 1785 cases of violence against women, 12,600 cases of abduction of women, and honor killings were reported in Punjab province alone. 197 cases were registered which is a shameful and worrying moment for this society. He added that the education system also needs to be reformed.

Our children should know the ethics and values of their society. In the past, good scripted dramas were aired but now their script is not appropriate either. We are an Islamic country where such dramas are banned from being aired on the internet. The content has also caused a lot of problems.

Miss Qaisara Sheikh, Coordinator, FPCCI Women’s Entrepreneurs, said that the Zainab Alert Bill should be implemented. Abuse of children and women should be punishable by death. Crime cannot be controlled unless the justice system is established on modern foundations. The accused in the rape case should be made a role model. Women chambers across the country are united against this incident. The accused in the motorway rape case are terrorists, they should be punished severely. Not safe.

All businesswomen of the country strongly condemn the irresponsible statement of CCPO. Officials of all women’s chambers across the country through video link. Hina Mansab, Shagufta-ur-Rehman, Tahira Naseem, Masooma Sabteen, Shehan Malik, Sadia Khurram, Naima Naz, Falak Anjum, Asma Kanwal, Lala Rak, Nazli Abid, and other women also expressed their views in the meeting and strongly condemned the incident.