KCCI, FCCI agree on regular coordination over business and economic issues

KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) and the Faisalabad Chamber of Commerce and Industry (FCCI) have agreed to stay in close contact through regular interaction and structured engagement to raise and address key issues facing the business community, according to a statement issued on Saturday.

The understanding was reached during a high-level meeting at the KCCI, where an FCCI delegation visited Karachi for detailed talks with KCCI office-bearers and executive committee members. The visiting delegation was led by FCCI President Farooq Yousuf Sheikh and included Senior Vice President Naveed Akram Sheikh and Vice President Engr Asim Munir.

On the KCCI side, the meeting was attended by President Muhammad Rehan Hanif, Senior Vice President Muhammad Raza, Vice President Arif Lakhani and members of the executive committee.

According to the statement, both chambers stressed that the current economic situation requires stronger coordination, regular consultation and a continuous exchange of views among chambers of commerce so that business-related concerns can be presented in a more effective and united way.

It was agreed that their engagement would not remain limited to occasional events. Instead, the two chambers decided to maintain ongoing contact through frequent meetings, reciprocal visits and continued consultations.

The statement said this mechanism would help both sides identify emerging issues in time, prepare recommendations based on consensus, and pursue coordinated engagement with policymakers for the early resolution of problems affecting trade and industry.

Energy costs and budget concerns discussed

During the meeting, the two presidents held what the statement described as an in-depth exchange on the major economic difficulties currently affecting Pakistan’s business environment.

Participants expressed particular concern over the continued high cost of energy, especially electricity and gas tariffs, saying these were hurting industrial competitiveness and export performance.

They also pointed to a range of budget-related anomalies that they said need urgent attention in the upcoming federal budget. In this regard, the participants underlined the need for tax rationalisation, simpler procedures and business-friendly measures aimed at reviving economic activity and rebuilding investor confidence.

Hanif said the business community across the country was confronting shared challenges that require a collective and coordinated response. He said stronger engagement among major chambers would improve the effectiveness of advocacy efforts at the national level.

Sheikh agreed with that assessment and reiterated the need for sustained interaction and institutional cooperation between chambers. He also formally invited Hanif to visit the Faisalabad Chamber, and the invitation was accepted, further reinforcing ties between the two organisations.

Both sides reaffirmed their commitment to continue working closely in the larger national interest and to ensure that issues confronting the business community are addressed through practical, timely and result-oriented policy measures.