The largest trade organisation of Pakistan, Federation of Pakistan Chambers of Commerce and Industry (FPCCI), is going through worst financial crisis which has posed a serious challenge to its integrity.
Many employees working in the regional offices of FPCCI at Peshawar, Quetta and Islamabad have been terminated while monthly funds of these offices have been slashed.
Insiders say that some employees are being forced to work on reduced salaries which is highly illegal. Regional offices of the apex chamber were not allowed to use generators during load shedding which continued throughout the holy month of Ramazan making life difficult for the staff, they added.
The situation has pushed Tariq Sayeed, who is ruling FPCCI since decades with unquestioned power, to start considering closing down some regional offices, two in China, and to shelve plan to open an office in Dubai.
The FPCCI’s staff has been bearing the brunt of financial crisis which stemmed out of mismanagement, massive corruption and lavish expender of the leaders of Businessman Panel, sources said.
It may be mentioned that few years back, the FPCCI faced a similar financial crisis but former FPCCI president Senator Ghulam Ali managed Rs 50 million grant bailing out the troubled body. However, no lesson was learnt and the plunder continued which has emerged as a threat for the chamber. Moreover, Ghulam Ali and top government officials have told the FPCCI leaders that they don’t have any funds at this time.
When contacted, former FPCCI VP Engineer Daro Khan Achakzai and other trade leaders alleged that Tariq Sayeed enjoyed undisputed powers, therefore, he must be held responsible for the situation.
Tariq Sayeed had been plundering resources of the FPCCI since decades and he always preferred personal interests over interests of community while his whole family continued to enjoy good life on the cost of FPCCI, they added.
His son, Khurram Sayeed, is incumbent VP, his brother is chairman of a standing committee while his other relatives have different appointments irrespective of merit.
Trade leaders said Sayeed was the biggest hurdle in development of business community and economic revival which was a bad luck for Pakistan.