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KCCI team to meet Finance Minister
16
Jul '08
A delegation of Karachi Chamber of Commerce and Industry (KCCI) headed by its President Shamim Shamsi will meet the Federal Finance Minister Mr. Naveed Qamar on Thursday in Islamabad to discuss issues of gas, power tariffs, Research & Development (R&D) support and withholding tax.

The delegation members include Zubair Motiwala, head of Gas Committee, Mr. M Nisar Sheikhani, Head of Electricity Committee, Mr. Javed Bilwani, Head of R&D Committee and Muzammil Hussain, Head of Withholding Tax Committee.

The KCCI President while talking to newsmen said that delegation would try to convince the Finance Minister to decrease the gas tariff to its June 30 position.

He added that the chamber would also give a formula on how to revert the gas tariff to its June 30 position.

He said 31 percent increase in gas tariff is very high and it must be reduced otherwise the industries will go out of production slowly.

When asked whether other chambers will participate in the meeting, he said the chambers have been contacted and we want to take them with us.

KCCI President said that textile units have already been closed in Faisalabad and Lahore.

He said a delegation of the chamber has already met the Finance Minister in Karachi and discussed the same issues.

Meanwhile, a delegation of KCCI under the leadership of Siraj Kassam Teli, met the Finance Minister and discussed the present irritants of trade and industry, including 31 percent hike in gas tariff, power crisis, frequent increase in oil prices and other bottlenecks which are affecting the cost of doing business, a press release said.

Teli emphasized that there should be a representative of KCCI in Oil & Gas Regulatory Authority (OGRA), National Electric Power Regulatory Authority (NEPRA), and other concerned quarters, which evaluate and determine the prices of oil and gas.

The delegation expressed its deep concern over the sharp increase in gas tariff.

The delegation also pointed out that although the international oil prices have been sharply increased but other countries in the region charge local prices of POL immediately indexing it to the international prices of crude oil.

The team suggested that a mechanism should be devised whereby the local POL prices could be linked to the international prices.

Karachi Chamber of Commerce and Industry

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