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Pakistan Coating Association delegation visits Karachi Chamber of Commerce and Industry to meet new office bearers

Web Desk 12:46 PM | 29 Nov, 2022
Pakistan Coating Association delegation visits Karachi Chamber of Commerce and Industry to meet new office bearers

KARACHI – Pakistan Coating Association (PCA) delegation headed by Chairman, Mr. Siraj Uddin made a courtesy visit to Karachi Chamber of Commerce & Industry, to meet and greet the newly elected Office Bearers of KCCI.

The President, KCCI, Mr. Muhammad Tariq Yousuf welcomed the PCA delegation and appreciated them for visiting the Chamber. He, emphasized to live together and work jointly. He also assured of all possible support to PCA in the development and promotion of coating industry. He suggested, a PCA member could be inducted in their Housing & Construction Committee also PCA can be a member of KCCI. Mr. Tariq Yousuf, also recommended PCA to participate in KCCI’s “My Karachi Exhibition”. He also offered to arrange a single country exhibition through TDAP.

The Chairman, PCA, Mr. Siraj Uddin while addressing the house thanked KCCI officials for extending a warm welcome to his delegation. He thanked Allah and his PCA members to nominate him as Chairman of the association. He also added that business related issues and problems are more or less common among us, hence, suggested to work together for promoting business. Mr. Siraj Uddin was of strong opinion, to believe on their slogan “MAIN NAHI HUM”.

After introduction of participants, Mr. Muhammad Yousuf, Former Senior Vice Chairman, PCA, briefed on PCA’s inception and its membership strength (200 Members), also informed the Chamber that under coating industry’s umbrella there are six major manufacturing sectors like, Paints, Adhesive, Resins, Powder Coating, Inks and Mining etc. 

He apprised the house that PCA has signed MOU with LCCI and RCCI, also look forward to sign MOU with the KCCI. To enhance their Membership Drive, PCA plans to visit Balochistan shortly, as they have huge mineral and mining sector, which is also an important component of coating industry, he added. He said PCA is interested to induct their Member from Karachi as nominee in KCCI.

Knowing that Mr. Yousuf is one of the pioneer founder of PCA, also has an indepth knowledge and insights of the industry, as well as the Association, the Chairman, PCA, Mr. Siraj Uddin wanted the floor to be with him for a while, so that he can also come up with serious issues and problems being faced by the industry as a whole and members of PCA in particular. 

Mr. Yousuf, further stated that Coating is an export oriented industry, need to be included in O-rated export category. Recently, FTO, Mr. Asif Mahmood Jah was Chief Guest at our Annual Dinner, had constructive discussion on taxation and FBR, he added. Mr. Yousuf, also pointed out a major issues these days being faced by the importers, that documents not being released by the Bank, which results in Demurrage and Detention costs. In response, Mr. Haris Agar, Vice President, KCCI suggested forwarding their complaints in writing to KCCI and they will try to resolve. Mr. Yousuf, also highlighted that income tax on importing basic raw materials was two percent earlier and now extra 1.5 person has been imposed. Mr. Usman Umer, Executive Committee Member, PCA, seconded Mr. Yousuf.

While commenting to be export oriented, suggested that lands in Hawksbay area should be given to businessmen for setting up manufacturing units. Responding to him, President, KCCI, Mr. Tariq Yousuf apprised that 1600  acres industrial zone is coming up soon. He also appreciated the Sundur industrial estate policy on lands and informed that no more resale allowed in the industrial area.

Mr. Badar Haroon, Senior Vice Chairman, PCA, congratulated the newly elected Office Bearers. He desired, with KCCI to form a Coating Committee in the Chamber. Seconding to Mr. Muhammad Yousuf, he said Balochistan is a lucrative market for coating activities. Explaining to the house, he explained that Calcium Carbonate is a part of mining and important factor of coating industry. Mr. Badar, informed the Chamber that PCA was registered with the DGTO in 2021. He expected, KCCI to play the role of bridge between us and the Government.

KCCI, Managing Committee, Member, Mr. Arif Lakhany, while speaking to the house referring to hurdles in importing, was of the opinion to encourage on setting up raw materials manufacturing units, than relying on imports. Mr. Khalid Khanani, Former Senior Vice Chairman, PCA, emphasized on development of infrastructure for the business community.

Those attended the meeting from KCCI were Mr. Muhammad Tariq Yousuf, President, 

Mr. Haris Agar, Vice President, Mr. Arif Lakhany, Managing Committee Member, Mr. Asim Ejaz, Managing Committee Member and from PCA were Mr. Siraj Uddin, Chairman, Mr. M. Badar Haroon, Senior Vice Chairman, Mr. Muhammad Yousuf, Former Senior Vice Chairman, Mr. Khalid Khanani, Former Senior Vice Chairman, Mr. Musa Yahya Baghpatee, Executive Committee, Member, Mr. Usman Umer, Executive Committee Member and Mr. Iftekhar Rahat, Secretary, South Region.

Finally, vote of thanks was presented by Vice President, KCCI, Mr. Haris Agar and had exchange of mementos and flower bouquets, followed by photo session.

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KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 4, 2023 (Saturday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 279.9 283.2
Euro EUR 300.98 301.58
UK Pound Sterling GBP 337.01 337.71
U.A.E Dirham AED 75.14 75.44
Saudi Riyal SAR 73.55 73.85
Australian Dollar AUD 189 192
Bahrain Dinar BHD 712.72 720.69
Canadian Dollar CAD 200 202.2
China Yuan CNY 39.67 39.73
Danish Krone DKK 39.33 39.73
Hong Kong Dollar HKD 34.19 34.54
Indian Rupee INR 3.28 3.39
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 878 887
Malaysian Ringgit MYR 62.83 63.43
New Zealand Dollar NZD 173.25 175.25
Norwegians Krone NOK 26.79 27.09
Omani Riyal OMR 696.08 704.08
Qatari Riyal ‎QAR 73.62 74.32
Singapore Dollar SGD 204 206
Swedish Korona SEK 25.61 25.91
Swiss Franc CHF 291.69 294.19
Thai Bhat THB 8.15 8.30

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 205,200 on Saturday. The price of 10 grams of 24k gold was recorded at Rs175,930.

Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 205,200 PKR 2,430
Karachi PKR 205,200 PKR 2,430
Islamabad PKR 205,200 PKR 2,430
Peshawar PKR 205,200 PKR 2,430
Quetta PKR 205,200 PKR 2,430
Sialkot PKR 205,200 PKR 2,430
Attock PKR 205,200 PKR 2,430
Gujranwala PKR 205,200 PKR 2,430
Jehlum PKR 205,200 PKR 2,430
Multan PKR 205,200 PKR 2,430
Bahawalpur PKR 205,200 PKR 2,430
Gujrat PKR 205,200 PKR 2,430
Nawabshah PKR 205,200 PKR 2,430
Chakwal PKR 205,200 PKR 2,430
Hyderabad PKR 205,200 PKR 2,430
Nowshehra PKR 205,200 PKR 2,430
Sargodha PKR 205,200 PKR 2,430
Faisalabad PKR 205,200 PKR 2,430
Mirpur PKR 205,200 PKR 2,430

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