Long March Announced: It is Time for Business Community to Stand Up for Justice or Risk Bankruptcy/Liquidation and Cry forever.

[Ghazwa-e-Hind]

If Business communities of Pakistan (especially memons) don't stand up for justice and civilian supremacy, then say good bye to your rights, the judiciary or state machinery will not protect you - they are there to protect themselves and cozy up in their housing schemes and dozen foreign roundtrips a year.

We all know what happened in last 2 decades, what kind of extortions, law & order situation Pakistan have faced due to the 'usual suspects'

Don't be selfish like ARY who disowned Arshad Sharif during the time of testing/trial.

Pakistan ranks 136th on the Ease of doing business index, 130th of the rule of law

That's all.

Swvl closes operation in Pakistan

Uber shuts down operations:

Uber shuts down operations in five cities

LAHORE: Ride-hailing app Uber on Tuesday announced that it is shutting down operations in five out of six cities where it carried out operations in Pakistan, amid growing competition and record inflat

profit.pakistantoday.com.pk

CarFirst announces shutdown of operations in Pakistan

* Says team will remain in place to handle closing of the entity, and to respond to queries from partners and customers throughout the closing period

www.brecorder.com

Airlift announces to shut down operations in Pakistan

Airlift — one of Pakistan's top startups — has announced to shut its operation in the country citing “global recession and the recent downturn in capital markets” as the...

www.thenews.com.pk

 

[Ghazwa-e-Hind]

APTMA announces countrywide closure of textile mills - Daily Times

All Pakistan Textile Mills Association (APTMA) has decided to shut down textile mills across the country, reported 24NewsHD TV channel.

dailytimes.com.pk

Pakistan's textile units shut down due to shortage of cotton after floods

The already fragile Pakistan economy, hit hard by the devastating floods, now faces the shutdown of textile factories as the cotton crop has been destroyed

www.business-standard.com

Suzuki shuts down plant in Pakistan on import restriction

KARACHI: Pak Suzuki has announced a temporary shutdown of its production plant due restriction on imports imposed by the government.

pkrevenue.com

Indus Motor halts production of Toyota vehicles in Pakistan - Pkrevenue.com

KARACHI: Indus Motor Company Limited on Tuesday announced to temporary halt its production of Toyota vehicles in Pakistan.

pkrevenue.com

https://twitter.com/x/status/1583827025860562944

 

[Ghazwa-e-Hind]

Layoffs, phone shortage in Pakistan as mobile manufacturing industry shuts down plants

Layoffs, phone shortage in Pakistan as mobile manufacturing industry shuts down plants

ISLAMABAD: Pakistan’s nascent mobile phone industry shut down over two dozen production plants after running out of raw materials last week, leading to layoffs and shortage of cellphones in local market, as the government banned the import of several items due to a decline in the country’s...

www.arabnews.pk

ISLAMABAD: Pakistan’s nascent mobile phone industry shut down over two dozen production plants after running out of raw materials last week, leading to layoffs and shortage of cellphones in local market, as the government banned the import of several items due to a decline in the country’s foreign currency reserves.
According to Pakistan Mobile Phones Manufacturers Association, the monthly import bill of those running the production plants amounts to nearly $195 million and the industry has not been allowed to import raw materials since May 20.

Pakistan has been struggling to stave off a debt default by saving precious foreign exchange reserves that have fallen to $8.2 billion, barely enough to cover the import bill of just six to seven weeks.

The restriction on the import of raw materials has forced a complete closure of about 12 smartphone production units, while some of the 18 feature phone manufacturing plants have also suspended their operations.
“All plants are shut at the moment as we do not have the raw material,” Aamir Allawala, senior vice-chairman of the Pakistan Mobile Phone Manufacturers Association, told Arab News.
Local cellphone assemblers cater to 92 percent of the country’s domestic demand. The rest is met through imports. According to industry sources, Pakistan has otherwise been manufacturing over 2.5 million smartphones per month.
Allawala said smartphone manufacturing was a labor-intensive industry and had employed over 50,000 skilled and unskilled workers.
“It is unfortunate that all these jobs are at stake now as the companies cannot afford the payroll in the absence of manufacturing,” he said.
He also informed the government was not allowing the opening of letters of credit (LCs) due to the shortage of dollars.
A Federal Board of Revenue (FBR) spokesperson Asad Tahir told Arab News on Wednesday his organization was busy with the budget and revenue issues, and would not be able to comment on the issue until next week.
“At the moment, we are stuck with budget and revenue related issues, so we’ll be able to get back on this next week,” he told Arab News in response to questions regarding the ban on the import of raw material for the mobile manufacturing industry.
Nadeem Ahsan, a joint-secretary for large enterprises development at the Ministry of Industries and Production, did not respond to Arab News questions despite repeated calls.
“The overall environment of the industry is demoralizing at the moment,” he said, adding the government allowed some $3 million worth of LCs last week, but that could not help revive production.
“Locally assembled mobile phones are short in the market and this is hurting the local economy besides the industry,” he continued.
Allawala said all smartphone manufacturing units imported raw materials from China, South Korea and Vietnam for 15 days, and that stock had finished now.
“We fear that six to eight plants of smartphones may not be able to resume operations,” he said, adding it was not easy for these units to restart operations due to numerous reasons.
A State Bank of Pakistan official, who spoke on condition of anonymity, said the central bank did not issue instructions to banks on whether or not to open LCs for smartphone manufacturers. “There are no such instructions to private banks from the central bank,” he said.

 

[Ghazwa-e-Hind]

The ex-Prime Minister Imran Khan, who is also the leader of the single biggest political party (PTI) in Pakistan is asking for justice (after getting shot in assassination attempt), and yet he is denied FIR. Three days have been passed since he was shot 4 times in legs, 1 worker martyred, dozen people injured, No FIR has been registered, we are talking about the most popular person in country, not ordinary civilian.

My message to business community is that, if you keep quiet at this time, then be prepared to lose everything, because tomorrow they will come after you. Extortions will come next, (bhattay ki parchiyan with bullets folded in paper).. Does MQM era ring a bell?


Business confidence drops to lowest level in Pakistan: survey - Dawn

Business confidence drops to lowest level in Pakistan: survey

Gallup survey says inflation, loadshedding worrying business community.

www.dawn.com

https://twitter.com/x/status/1589224702140387331