KARACHI – The income of the Federal Chamber of Commerce and Industry (FPCCI) has declined drastically. In the year 2021, the revenue was0 Rs. 148.7 million and the expenditure was Rs. 177.6 million. It is feared that the Federation Chamber of Commerce Bank will default in a year. The United Business Group (UBG) has expressed concerns over the FPCCI’s declining earnings and poor financial position.
The UBG leadership said that the total revenue of FPCCI in the year 2021 was Rs. 148.7 million while the expenditure was Rs. 177.6 million. Thus, Rs. 28.9 million was spent from the existing treasury in FPCCI which is Rs. According to the data provided by UBG, the FPCCI received Rs. 139.2 million in rent from the head office and capital office of the federation while the salaries of the employees were paid. Rs.12 crores were spent in the same way. Rs.50 lakh was collected from the trade bodies in the form of the annual fee and Rs.66 lakh was paid on the fares of Regional Office Quetta, Lahore and Peshawar.
In the last financial year 2021, FPCCI was given the membership annual book. I received Rs. 5 lakhs and Rs. 12 million was spent on utility bills of Head Office, Capital Office, Regional Office Lahore, Quetta, and Peshawar Offices. Rs. 30 lakhs were received from the annual fee of the Business Council of the Federation and also for purchase, renovation and decoration of furniture. I spent Rs. 1 million. Standing Committees annually Rs. 1 million was received in terms of membership fee but the leadership of the federation spent Rs. 8 million for the installation of solar panel system in the head office. Similarly, the president of the federation did not receive a single penny in trade fairs, exhibitions, trade delegations 2021. However,
He spent Rs 10 million on the construction of the boundary wall of the capital office of the federation. Although the Brand of the Year Awards could not be held in these two years, a total of about Rs 2 crore was spent on the renovation of the Islamabad Capital Office, relatives of the officials and Empress Funds. The leadership of United Business Group led FP. Expressing concern over the poor financial position of the CCI,
He said that UBG officials had left billions of rupees in the federation which was being spent on personal appearances and exhibitions. Home to the PCCI treasury The slave girl has understood and not a single penny is being spent out of her pocket while the UBG officials have been paying all the expenses out of their own pockets during their tenure.
