Daily Times

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) raised concerns about work visa rejections for Pakistani workers. Saqib Fayyaz Magoon, FPCCI Senior Vice President, warned this could reduce remittances. Despite efforts, 50% of visa applications are still rejected.

Magoon stated that remittances increased over the past eight months but may decline if the issue persists. He called for intervention from the Ministry of Foreign Affairs to resolve the problem.

Magoon also criticized the change in net metering policy, which replaced unit-for-unit compensation with a net billing system. He welcomed the government’s delay on the Rs10/unit solar buyback policy, as it created uncertainty.

Magoon expressed concern over the 18% sales tax on local supplies under the export facilitation scheme. He urged exemptions for local suppliers to support industries like textiles and agriculture. He concluded by stressing the importance of strengthening local industries to reduce reliance on the IMF.