KCCI Business Sentiment Survey

Recently, KCCI Research published a report KCCI: Karachi Business Sentiment Survey Report
In the report titled Karachi Business Sentiment Survey Report KCCI in its relentless efforts to serve the business community of the metropolis launched its first ‘Karachi Business Sentiment Survey’ on 1st Jan’20 and concluded collection of response on 15th Mar’20. A total of 1,103 manufacturers, service providers and traders from diverse sectors filled the survey. Majority of the responders experienced at least some friction in business activities with general pessimism prevailing in nearly all sectors. These businesses are also skeptical on growth prospects in 2020 which is worrying since the Coronavirus Pandemic is likely to have further dampened the situation. Rupee depreciation, unprecedented rise in utility costs and Pakistan’s outdated tax system clogged with anomalies and complexities were said to be the biggest challenges for businesses. Nearly half of the responders claimed to have laid off workers in 2019.

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Industrialists urge govt to end KE’s monopoly

Keeping in view the prolonged hours of load-shedding endured by industries in Karachi, Businessmen Group (BMG) Chairman Siraj Kassam Teli has urged the govt. to end the monopoly of K-Electric (KE) in 2023 when its contact is scheduled to be renewed. He pointed out that the power[…]

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KE allowed increase in tariff

ECC has allowed an average PKR 2.89 per unit increase in tariff to Karachi Electric (KE) from 1st Jul’20, and asked OGRA to evolve a mechanism for the recovery of PKR 73.84Bn revenue shortfall suffered by the regulator due to supply of RLNG to domestic consumers in winters. It also approved PKR[…]

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Covid-19 financial relief package: Banks defer PKR 566Bn principal loan payments

Under the SBP’s relief package, banks and DFIs have accepted over 1Mn application for loan deferment and restructuring and overall some PKR 566Bn worth of principal loan payments have been deferred by 1 year to provide financial relief to the businesses during the COVID-19 pandemic.[…]

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Taxpayers waiting for new WHT (Rates Card)

Taxpayers are desperately waiting for the new Withholding Income Tax Regime (WHT Rates Card) to be applicable from 1st Jul’20 to ensure non-deduction of 9 different types of withholding taxes abolished in the budget through Finance Act, 2020. On the FBR website, the FBR is still displaying[…]

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