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Business Recorder
3 hours ago
- Business
- Business Recorder
FPCCI's BMP says budget lacks strategy to revive economy
LAHORE: The Federation of Pakistan Chambers of Commerce and Industry's Businessmen Panel (BMP) has raised strong concerns over the Federal Budget, calling it a document full of theoretical optimism but lacking the concrete execution strategy required to address Pakistan's deep-rooted economic and industrial challenges. The BMP leadership said the government missed a critical opportunity to push forward structural reforms and provide the private sector with practical relief to overcome prevailing financial hardships, rising production costs, and export stagnation. BMP Chairman and former FPCCI President Mian Anjum Nisar said the budget failed to outline any viable roadmap for industrial expansion, job creation, or meaningful growth in the manufacturing sector. He regretted that instead of facilitating businesses, the budget has prioritised tax revenue goals without fixing fundamental issues affecting productivity and competitiveness. He stressed that Pakistan's economic revival is not possible without the active engagement and support of the business community, which continues to feel sidelined despite repeated promises of stakeholder-driven policy. Nisar criticised the government's excessive reliance on indirect taxation and short-term fiscal tools, warning that such an approach will only widen inequality and hinder long-term economic planning. He pointed out that the government has introduced aggressive tax measures without corresponding reforms in documentation and enforcement, creating fears of harassment among already compliant businesses. He strongly opposed granting tax authorities unchecked powers, such as freezing business accounts without prior notice, terming them anti-business and contrary to the spirit of voluntary compliance and trust-building. He said that the Rs1,000 billion earmarked for development spending is inadequate to meet the pressing infrastructure needs of Pakistan's economy, especially in industrial zones, ports, logistics corridors, and power transmission lines, adding unless these funds are used transparently with strict project prioritisation, they will have minimal impact. He urged the government to revive long-stalled industrial and transport infrastructure projects, which are essential to improving supply chains and reducing the cost of doing business. He also expressed serious disappointment over the continued neglect of value-added sectors, particularly textile, apparel, and light engineering, which are the backbone of Pakistan's export economy. Nisar reiterated the BMP panel's longstanding demand for the revival of the zero-rated regime and the removal of procedural hurdles in sales tax refunds. He noted that working capital remains stuck in refund cycles, which creates a liquidity crisis for exporters already struggling with thin margins and delayed shipments. He called for a complete rethinking of the country's tax strategy. Instead of placing more burdens on the formal sector, the government should broaden the base by targeting untaxed segments and expanding documentation through rational incentives. The business community has long urged for a simplified and predictable tax regime with reduced compliance costs, which remains unmet in the current budget. The panel emphasized that a true economic turnaround can only be achieved through structural reforms, reduced dependency on IMF programs, and the formulation of a long-term industrial policy. It pointed out that over reliance on remittances, foreign loans, and import-based revenues is unsustainable and exposes the country to repeated cycles of crisis. BMP urged the government to shift from short-term fire fighting to institutional capacity-building, export diversification, and innovation-led growth. BMP reaffirmed its commitment to standing with Pakistan's business community and offering constructive solutions, but stressed that the government must match its words with action and work hand in hand with stakeholders to lift the economy from stagnation toward sustainable, inclusive growth. Copyright Business Recorder, 2025
Business Recorder
12-06-2025
- Business
- Business Recorder
Business bodies say budget lacks required incentives to revive struggling industries
LAHORE: Major business bodies have expressed significant reservations about the Federal Budget 2025-26, warning it lacks the strategic vision and incentives needed to revive Pakistan's struggling industries and attract vital investment. The Businessmen Panel (BMP) declared the budget risks pushing the economy further off the recovery path, citing a critical absence of measures to stimulate industrial activity, reduce crippling energy costs, or ease the cost of doing business. While the Pakistan Industrial and Traders Associations Front (PIAF) acknowledged some positive steps like tax simplification, it cautioned that overly optimistic revenue targets and the failure to address core issues like high electricity tariffs and interest rates overshadow these gains and hinder sustainable growth. The BMP of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has voiced serious reservations over the Federal Budget 2025-26, criticizing it for lacking any meaningful incentives to stimulate trade, investment, and industrial revival. BMP Chairman Mian Anjum Nisar has urged the government to immediately rectify policy anomalies, cautioning that the budget, if left uncorrected, could push Pakistan further away from the path of economic recovery. The BMP chairman maintained that 'while the budget may satisfy certain technical benchmarks, it does not reflect the pressing needs of the productive sectors of the economy.' He observed that the private sector had hoped for a more balanced and growth-oriented fiscal plan—one that would offer clear direction for industrial revitalization and export development—but instead received a document heavily focused on revenue collection and administrative compliance. According to Anjum Nisar, the government has missed a crucial opportunity to send positive signals to investors and entrepreneurs. Despite challenging global conditions and domestic constraints, the budget does not contain a strategy to stimulate industrial activity, improve business competitiveness, or reduce the excessive cost burden on manufacturers and exporters. 'This is not the kind of budget that can revive economic momentum,' he said. He warned that enforcing compliance without parallel incentives will dampen entrepreneurial energy. The increase in utility tariffs, particularly for gas—an essential input for various industries—without any relief measures, will directly affect export-oriented sectors and small businesses already battling high operational costs. He questioned the rationale behind burdening industries with unaffordable energy while speaking of industrial growth. Anjum Nisar said the absence of targeted steps to boost local production capacity and attract investment shows a lack of clarity in the government's economic vision. He stressed that the government needs to look beyond revenue targets and short-term fiscal adjustments. 'What the economy demands today are bold and focused steps to ease doing business, reduce energy costs, improve infrastructure, and enhance export potential.' Highlighting the significance of industrial performance in determining national stability, the BMP leader stated that the government should have come up with a practical roadmap to strengthen domestic industries, support SMEs, and introduce tax simplifications to widen the base instead of squeezing the existing compliant segments. Unfortunately, the budget continues to rely on conventional tools without offering real innovation or long-term direction. He was also disappointed by the limited allocation for public infrastructure development, pointing out that the proposed development expenditures fall short of what is required to uplift logistics, water supply, power transmission, and road connectivity—critical elements that facilitate business and trade. He emphasized that any meaningful strategy for growth must go hand in hand with investment in infrastructure, especially in urban industrial hubs. The BMP chairman further criticized the absence of reforms to address credit access and financing issues faced by industries. High interest rates continue to choke expansion plans and discourage entrepreneurship. Without a clear pathway to affordable financing, real sector growth will remain constrained, he noted. He questioned the logic behind setting overly ambitious targets for revenue and growth in the absence of a concrete enabling framework. 'The ground reality doesn't match the projections presented in the budget. Unless core challenges are addressed, the macroeconomic indicators cannot show lasting improvement,' he stated. Anjum Nisar noted that 'Pakistan cannot continue to rely solely on remittances or external borrowing for economic survival. It must build an export-led model backed by value-added manufacturing, technology enhancement, and trade diversification. The budget, however, fails to initiate such transformation, lacking strategic sectoral planning or industrial deepening.' He emphasized that the economy is at a stage where growth must take precedence over compliance. The private sector requires reassurance through facilitation, not surveillance. Instead, the tone of the budget sends a message of rigidity and pressure rather than cooperation and partnership with the business community. Copyright Business Recorder, 2025
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Business Standard
08-06-2025
- Politics
- Business Standard
Yunus acted without consulting parties: Ex-Indian envoy on Bangladesh polls
Former High Commissioner of India to Bangladesh Veena Sikri said that the announcement of elections in the first half of April, next year by Muhammad Yunus, Chief Adviser to the interim government of Bangladesh is "controversial" and said the decision was taken without consulting the parties. Sikri told ANI a day earlier, "I think this announcement is controversial due to some reasons -- some political parties have opposed it, even BMP themselves wanted it earlier by December. He has taken this decision without consulting the parties. He has talked about reforms, but he is not a constitutional government, so there is no reason for such a government to do reforms" The former envoy said the neighbouring country must have early elections and that the Bangladesh Army has yet to react to the announcement. "They must have early elections, and then the elected government will look at what reforms they want. The Army has not said anything so far about the decision. The most important thing is how the elections will be conducted, as he cannot head the caretaker govt because in his govt there are political party representatives, including representatives of Islami Andolan Bangladesh." On June 6, the Bangladesh interim government announced that the national election would be held in the first half of April 2026. "I am announcing to the countrymen today that the next national elections will be held sometime in the first half of April 2026. Based on this announcement, the Election Commission will provide you with a detailed roadmap for the elections in due course", said Muhammad Yunus, Chief Adviser to the interim government of Bangladesh, in an address to the nation through state television, BTV, on the eve of Eid-ul-Azha. The announcement of the national election is a major development for Bangladesh politics after the fall of the Sheikh Hasina-led Awami League government in August 2024.
India Gazette
08-06-2025
- Politics
- India Gazette
"Yunus has taken this decision without consulting parties": Former High Commissioner of India on elections in Bangladesh
New Delhi [India], June 8 (ANI): Former High Commissioner of India to Bangladesh Veena Sikri said that the announcement of elections in the first half of April, next year by Muhammad Yunus, Chief Adviser to the interim government of Bangladesh is 'controversial' and said the decision was taken without consulting the parties. Sikri told ANI a day earlier, 'I think this announcement is controversial due to some reasons -- some political parties have opposed it, even BMP themselves wanted it earlier by December. He has taken this decision without consulting the parties. He has talked about reforms, but he is not a constitutional government, so there is no reason for such a government to do reforms' The former envoy said the neighbouring country must have early elections and that the Bangladesh Army has yet to react to the announcement. 'They must have early elections, and then the elected government will look at what reforms they want. The Army has not said anything so far about the decision. The most important thing is how the elections will be conducted, as he cannot head the caretaker govt because in his govt there are political party representatives, including representatives of Islami Andolan Bangladesh.' On June 6, the Bangladesh interim government announced that the national election would be held in the first half of April 2026. 'I am announcing to the countrymen today that the next national elections will be held sometime in the first half of April 2026. Based on this announcement, the Election Commission will provide you with a detailed roadmap for the elections in due course', said Muhammad Yunus, Chief Adviser to the interim government of Bangladesh, in an address to the nation through state television, BTV, on the eve of Eid-ul-Azha. The announcement of the national election is a major development for Bangladesh politics after the fall of the Sheikh Hasina-led Awami League government in August 2024. (ANI)
Cision Canada
05-06-2025
- Business
- Cision Canada
Bell Marketing Platform Partners with The Trade Desk for Seamless Access to Premium Marketing Solutions
– The Bell Marketing Platform has been integrated into The Trade Desk, providing advertisers with seamless access to premium capabilities and greater addressability with Unified ID 2.0 – – Advertisers now have access to near real-time data on more than 22 million connections across more than 8 million Canadian households – TORONTO, June 5, 2025 /CNW/ - Bell Media and The Trade Desk announced today that key tools from the Bell Marketing Platform (BMP) are now integrated into The Trade Desk's Kokai platform. The integration provides advertisers with seamless access to Bell's premium first-party data, custom audience-building capabilities, and, in the future, advanced measurement and analytics solutions. "With this integration, we're making it easier than ever for advertisers to activate Bell's first-party data where they already buy media," said Matt McGowan, SVP, Business Solutions at Bell Media. "It's a major step forward in delivering smarter, more effective advertising across every screen." Fueled by Bell Audience Manager's near real-time data tracking, the integration on The Trade Desk makes it easier for advertisers to leverage BMP tools and intelligence to optimize their campaigns. With more than 22 million customer connections across more than 8 million Canadian households, clients gain instant access to app and web activity, as well as detailed television consumption patterns, including programming, channels, and ad exposure, unlocking premier audience retargeting or suppression capabilities to drive results. Existing Environics Analytics capabilities further enhance audience segmentation, tapping into viewership and browsing information, potential interests, and geofencing, as well as demographic, household, and financial insights. Bell Media will also support Unified ID 2.0 (UID2), pioneered by The Trade Desk to help advertisers target their audience with greater precision and addressability. A privacy-conscious identity solution, UID2 allows advertisers to reach precise Canadian audiences through Bell's robust first-party data or each client's own dataset, while being built for an omnichannel future. UID2 will be available across key inventory pieces, including Connected TV, with additional implementations in the future. "Connected TV represents an entirely new opportunity for both advertisers and TV providers who are making incredible content," said Will Doherty, SVP of Inventory Partnerships, The Trade Desk. "Bell is leading the way in market by leveraging innovations like Unified ID 2.0, as well as supporting the premium open internet. This marks a major advancement for buyers to buy some of the best content in Canada." Bell Attribution Insights will be coming soon to The Trade Desk. A powerful measurement solution, Bell Attribution Insights enables advertisers to track real-world outcomes, online lift, and cross-platform performance, while gaining actionable analytics results as they pertain to delivery, engagement, and audience impact, maximizing campaign returns on investment. The partnership with The Trade Desk highlights Bell Media's continued dedication to delivering exceptional value and innovative solutions for advertising partners. X: @BellMediaPR @TheLede_CA LinkedIn: Bell Media Advertising Sales The Lede About Bell Media Bell Media is Canada's leading media and entertainment company with a portfolio of assets in premium video, audio, out-of-home advertising, and digital media. This includes Canada's most-watched television network, CTV; the largest Canadian-owned video streamer, Crave, with a premium add-on to include STARZ; a powerful suite of specialty channels; the most-trusted news brand, CTV News; Canada's cross-platform sports leaders, TSN and RDS; leading out-of-home advertising network, Astral; Québec's fast-growing conventional French-language network, Noovo; the country's leading radio and podcast app, iHeartRadio Canada; and a range of award-winning original productions, brands, and services. As a content leader and partner in Sphere Media, Sphere Abacus, Montréal's Grande Studios, and Dome Productions, one of North America's leading production facilities providers, Bell Media is committed to keeping Canadians entertained and informed. Bell Media also offers best-in-class technology, marketing, and analytics support through Bell Marketing Platform, an omnichannel self-serve platform which includes Bell Audience Manager, Strategic Audience Management (SAM), and Bell Attribution Insights, in addition to advanced advertising solutions, including Live Connected TV and ads on Crave. Bell Media is part of BCE Inc. (TSX, NYSE: BCE), Canada's largest communications company. 1 Learn more at About The Trade Desk The Trade Desk™ is a technology company that empowers buyers of advertising. Through its self-service, cloud-based platform, ad buyers can create, manage, and optimize digital advertising campaigns across ad formats and devices. Integrations with major data, inventory, and publisher partners ensure maximum reach and decisioning capabilities, and enterprise APIs enable custom development on top of the platform. Headquartered in Ventura, CA, The Trade Desk has offices across North America, Europe, and Asia Pacific. To learn more, visit or follow us on Facebook, Twitter, LinkedIn and YouTube. For more information, please contact: Kaitlynn Jong, Bell Media, [email protected]
