Author name: Web Desk

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Rashid Langrial on Wednesday issued a stern ultimatum to four Chinese-owned ceramic tile companies, warning them to either accept installation of AI-enabled monitoring cameras or cease operations in Pakistan. The tough stance came during a fiery Senate Standing Committee on Finance meeting after Chinese representatives pleaded with senators to block the FBR’s camera plan, citing risks to trade secrets.Langrial disclosed that tile manufacturers are evading roughly Rs30 billion annually in sales tax by under-reporting production. He stressed that the government has already shown flexibility by reducing camera count from 16 to just five per factory, placed only at points that capture accurate output without exposing proprietary processes.“If your board of directors does not agree to install cameras, then stop work,” Langrial thundered, rejecting claims that the system would compromise commercial confidentiality. State Minister for Finance Bilal Azhar Kayani defended the initiative, saying AI-driven video analytics would eliminate physical FBR inspections while ensuring full tax compliance.The companies argued they operate in Saudi Arabia and elsewhere without such surveillance and criticised abrupt policy changes. Langrial countered that the decision followed complaints from the Pakistan Tiles Manufacturers Association about rampant under-reporting by competitors.Successful camera deployment in sugar and cement sectors is projected to yield Rs76 billion and Rs102 billion respectively this fiscal year, reinforcing the government’s resolve to extend monitoring to 18 high-risk sectors.

The International Monetary Fund (IMF), in its latest technical assistance report, has urged Pakistan to introduce major reforms to the Special Investment Facilitation Council (SIFC), warning that its existing structure and limited transparency could weaken public confidence and hinder efficient economic management. The SIFC was created to accelerate foreign investment and oversee key national projects, but the IMF notes that it functions with broad powers and insufficiently tested accountability mechanisms. According to the report, the council’s mandate overlaps with the Board of Investment, creating institutional ambiguity and raising concerns regarding the immunity granted to its staff during decision-making processes. The IMF recommends that the SIFC immediately release its first annual report, outlining all investment initiatives it has supported, the incentives and concessions offered—such as tax and regulatory relaxations—and the justification and results of each approved project. The Fund also calls for clear, formal procedures governing the council’s operations, along with stronger transparency frameworks to ensure adequate oversight. It further questions the necessity of maintaining the SIFC in its current form while the Board of Investment continues to operate, suggesting a review of the council’s legal basis to ensure it does not circumvent established regulatory checks. These recommendations are part of a wider 15-point reform strategy aimed at addressing longstanding governance deficiencies and corruption risks across Pakistan’s public institutions. The IMF believes that a comprehensive implementation of these reforms, including those related to the SIFC, could significantly improve institutional effectiveness and economic stability.

KARACHI: Consul General of Indonesia, Drs. Mudzakir M.A, informed that trade between Indonesia and Pakistan has continued to grow steadily, reaching US$4.2 billion in 2024. From January to September 2025, bilateral trade stood at US$2.92 billion, compared to US$2.69 billion during the same period of 2024, reflecting a strong and encouraging upward trajectory in bilateral economic engagement.He noted that while trade performance has been positive, there remains considerable potential to diversify the bilateral trade basket. Opportunities exist across multiple sectors including textiles, the Halal industry, agriculture and food products, consumer goods, pharmaceuticals, technology, and digital innovation.The Indonesian CG made these remarks while speaking at a meeting during his visit to the Karachi Chamber of Commerce & Industry (KCCI). President KCCI Muhammad Rehan Hanif, Senior Vice President Muhammad Raza, Chairman Diplomatic Missions & Embassies Liaison Subcommittee Ahsan Arshad Sheikh, Former President Majyd Aziz, President Pakistan-Indonesia Business Forum Shamoon Zaki, and members of the KCCI Executive Committee were present on the occasion.Indonesian Consul General informed that an Indonesian business delegation, facilitated by the Consulate General in Karachi, will participate in the International Consumer Product Fair (ICPF) being held at Expo Center Karachi from 11th to 14th December 2025. Participating companies will represent a range of sectors and showcase Indonesia’s expanding export potential. He requested KCCI to circulate this information among its members and encouraged their active participation in B2B meetings with visiting Indonesian enterprises.He emphasized that Indonesia remains committed to advancing bilateral economic cooperation through enhanced trade facilitation, SME development, technology exchange, sustainable business partnerships, and deeper linkages between private sectors of both countries. The Indonesian Consulate, he assured, would continue to serve as a bridge to ensure that all business opportunities translate into meaningful collaboration.The Consul General stressed that the objective should not only be to increase trade volume, but to move toward high value-added and technology-driven sectors. There is strong potential for collaboration in Halal product development, textiles and garments, palm oil and agribusiness, renewable energy, IT and digital transformation, and SME growth. He reaffirmed the Consulate’s commitment to facilitating trade missions, B2B engagements, and business matchmaking to advance these opportunities.Reaffirming the deeply rooted ties between the two nations, he stated that Indonesia and Pakistan enjoy a strong bond founded on shared faith, historical linkages, and mutual aspirations for peace, development, and stability. Over the years, bilateral cooperation has expanded across trade, investment, education, cultural exchanges, and people-to-people contacts. Today, Pakistan remains one of Indonesia’s strategic partners in South Asia, and Indonesia looks forward to taking this collaboration to greater heights.He acknowledged KCCI’s role as a vital platform for the business community, praising its sustained efforts in promoting global trade linkages, including with Indonesia. The Consul General expressed keen interest in future collaboration with KCCI through joint business forums, trade delegations, seminars, exhibitions, and networking programs, which, he said, would significantly strengthen industrial and commercial cooperation between the business communities of both countries.President KCCI Rehan Hanif, while warmly welcoming the Indonesian Consul General, stated that the visit of the Indonesian diplomat to the Karachi Chamber represents a valuable opportunity to further deepen trade, economic and cultural linkages between Pakistan and Indonesia. “Your presence at KCCI reflects the shared resolve of both nations to strengthen bilateral trade and explore new avenues of mutually beneficial cooperation. We regard Indonesia as a key trading partner within the ASEAN bloc and an important gateway to the dynamic economies of Southeast Asia.”He noted that Pakistan and Indonesia enjoy a longstanding relationship built on friendship, mutual respect, and growing economic collaboration. The two nations are bonded not only through formal trade and diplomacy, but also through strong people-to-people connections, shared values, cultural harmony, and exchanges in areas such as arts and sports.Rehan Hanif highlighted that bilateral trade between Pakistan and Indonesia has shown an encouraging upward trajectory in recent years, particularly after the signing of the Preferential Trade Agreement. However, he emphasized that the true potential of trade between the two brotherly nations remains significantly higher than current realized volumes. There is vast room for diversification, value addition, and meaningful sectoral collaboration in multiple industries.Highlighting industry-specific potential, he pointed out that Pakistan’s pharmaceutical industry is increasingly export-oriented and provides significant space for joint ventures and technology cooperation. Both countries can also collaborate to scale up Halal food exports globally. Pakistan’s rapidly evolving IT sector can tap into Indonesia’s growing digital economy through partnerships and technology transfer initiatives. In the tourism sector, shared cultural and religious heritage provides a natural foundation for boosting tourist flows between the two nations.President KCCI further invited Indonesian investors to explore the wide range of opportunities available in Pakistan’s Special Economic Zones, particularly under CPEC, where highly competitive incentives are available for foreign investors. He reaffirmed that KCCI stands fully committed to facilitating business linkages, trade interactions, and investment flows between Pakistan and Indonesia.To drive progress, he proposed a series of practical initiatives including regular exchange of trade and business delegations, participation in trade fairs and international exhibitions, organizing single-country exhibitions to highlight products and technological strengths, holding sector-specific matchmaking sessions, strengthening direct shipping and logistics connectivity to reduce costs, expanding the existing PTA, and addressing tariff and non-tariff barriers to make trade more efficient and cost-effective.