KARACHI: In a rare show of unity, two trade and business representative bodies have agreed to work together for the revival and stability of the country’s economy.

The Karachi Chamber of Commerce and Industry (KCCI) and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) held a meeting at the KCCI on Friday.

KCCI President Rehan Hanif and FPCCI Senior Vice President Saquib Fayyaz Magoon underscored the need for cohesive action, collective advocacy and institutional cooperation among trade bodies to address shared economic challenges.

Mr Hanif stressed that the common problems faced by the business community must be tackled jointly. “It is essential for all chambers of commerce to unite and raise a stronger, collective voice so that the issues confronting the business community receive due attention from policymakers and are resolved in line with our shared aspirations,” he said.

He urged the FPCCI to work together in resolving the long-standing issue of industrial land at Port Qasim. He also highlighted the impracticality of implementing e-invoicing and e-bilty systems, and the adverse effects of Section 7E of the Income Tax Ordinance 2001, on the real estate sector, which he said had triggered capital flight.

He said the Fata/Pata tax exemptions had created two parallel taxation regimes that needed immediate correction. As both the KCCI and FPCCI have been advocating an electricity tariff of nine cents per kWh, he added, the issue of such exemptions should also be raised jointly from a unified platform.

Saquib Magoon said that without collaboration, major issues would remain unresolved. He emphasised that the federal budget process must not proceed without formal consultation with the business community.

The FPCCI, Karachi, Lahore and other chambers should participate in budget-related discussions only when consultations are held before the finalisation of the budget document, he said, calling for a joint action plan.

Mr Magoon said the FPCCI and KCCI held similar positions on e-invoicing, e-bilty systems, Section 7E, and the Fata/Pata regime.

Published in Dawn, November 8th, 2025