Shahzad Saleem

CEO of Nishat Chunian Ltd

Compiled from 1 recorded interview. Every statement below is drawn from the passage cited beside it.

Shahzad Saleem is the CEO of Nishat Chunian Ltd and the Chairman of the Board at Saleem Memorial Trust Hospital. He was admitted to LUMS and has said he graduated third in his class there. His stated views cover interest rates, taxation, exports and the cost of electricity.

Education

Saleem was admitted to LUMS. He has said he was in the second batch of students at LUMS, and that he was on the Dean's Honor List after his first quarter. He has said he failed an English test that was set after his admission. He has also said he graduated third in his class at LUMS. [1]

Career

Saleem is the CEO of Nishat Chunian Ltd. He is also the Chairman of the Board at Saleem Memorial Trust Hospital. He has said he has been working for 35 years. He has also said he once made a presentation to Nawaz Sharif. [1]

Views on business and finance

Saleem has said that at interest rates of 20 to 22 percent, the cost cannot be passed on. He has said that if debt is at 19 percent, equity needs a return of about 25 percent. He has also said Pakistan's risk-free rate is 19% and that a PE ratio of around 30 would give companies cheaper capital. On the forward exchange rate, he has said it is a differential of interest rates. [1]

He has said businesses cannot simply close today and reopen tomorrow, and that many businesses are in irreversible decline. He has said businesses are not very profitable because of multi-layer taxation. He has said regulation in Pakistan has become excessive and that regulatory requirements make small business unviable. He has also said anti-business sentiment makes working in Pakistan hard. [1]

He has said the debt is not too large and that the tenor is the problem. He has said the main lenders are China and Saudi Arabia, and that the IMF is not going to give a master plan. He has said he advised successive governments to restructure the loans, and that cancelling the agreements would bankrupt Pakistani banks. [1]

He has said there has been no new investment by Pakistani entrepreneurs in the last 10 years. He has said the accountability mindset is very dangerous for business. He has also said he is never in favour of revisiting past international commitments. [1]

Views on taxation

Saleem has said the minimum tax rate for the textile industry rose from 75% to 200%. He has said exporters were first put on a 1% full and final tax on revenue, and that exporters now pay a 29% corporate tax and a 10% super tax on profit. He has also said worker welfare and worker profit participation funds are charged on pre-tax profit. He has said he once told a government team not to help but to abolish the tax. [1]

He has said the whole economy runs on advance tax collection. He has said people avoid normal tax because they do not want to enter the FBR's net, given the harassment. He has said Pakistan should apply the same tax across all sectors and that PSDP spending should be stopped for two years. On reform, he has said FBR reform needs committed professionals, not people who serve for a few months. [1]

Views on exports and trade

Saleem has said cotton yarn used to be the number one export item. He has said Pakistani cotton costs about the same as American cotton, and freight is the difference. He has said a Pakistani borrowing from a bank abroad would pay 6% over LIBOR. He has said some rebates have been pending for 10 years. [1]

He has said Australia applies punitive duties to Pakistan and that a very robust commerce ministry is needed to negotiate these things. He has said handing out subsidies to people will not solve the problem. He has also said the minimum wage is not one figure but an 80-page gazette. [1]

Views on energy

Saleem has said industrial electricity costs 35 to 40 rupees per unit. He has said the debt portion of an IPP tariff is set by the government, and that electricity is expensive because of non-recovery, not because of IPPs. He has said the cost of one plant rose by 300%. [1]

He has said cheap electricity can be produced in Pakistan and that imported coal could produce the cheapest electricity in Karachi. He has said he has no coal project. He has also said placing the power plant in Punjab was the right decision. [1]

Views on the public sector

Saleem has said that if he worked in the public sector, he would have to fill six forms. He has said there is nothing wrong with PIA's staff, and PIA cannot run in the public sector. He has said privatised banks gave many people the chance to advance. He has said each department and ministry works in isolation. [1]

Views on education and society

Saleem has said he runs a company that cannot hire from outside eight to ten institutions, which he attributed to a poor education system. He has argued that the Benazir Income Support Programme budget could fund world-class education for every child. He has said people with vocational skills should be sent abroad, not only laborers. He has said Pakistanis who work in England and America do well, so the claim that they do not work is wrong. [1]

He has said Pakistanis themselves will fix this country, and that the idea of foreign investment should be dropped. He has said the real elite capture in Pakistan is the English language. He has said a culture of vigilante justice is being built in the country, and that in working for the welfare of the common man, the country has been ruined. He has also said he likes to be an optimist. [1]

Appearances

DateTitleWhere
2024-08-30 We have killed hope: the Nishat CEO on Pakistan's broken engine Thought Behind Things

Frequently asked questions

Who is Shahzad Saleem?

Shahzad Saleem is the CEO of Nishat Chunian Ltd. He is also the Chairman of the Board at Saleem Memorial Trust Hospital. He has said he has been working for 35 years.[1]

What does Shahzad Saleem do?

Shahzad Saleem is the CEO of Nishat Chunian Ltd and the Chairman of the Board at Saleem Memorial Trust Hospital.[1]

Where did Shahzad Saleem study?

Shahzad Saleem was admitted to LUMS. He has said he was in the second batch of students at LUMS and that he graduated third in his class there.[1]

What company does Shahzad Saleem lead?

Shahzad Saleem is the CEO of Nishat Chunian Ltd. He is also the Chairman of the Board at Saleem Memorial Trust Hospital.[1]

What are Shahzad Saleem's views on taxation?

Shahzad Saleem has said the minimum tax rate for the textile industry rose from 75% to 200%. He has said Pakistan should apply the same tax across all sectors. He has also said FBR reform needs committed professionals, not people who serve for a few months.[1]

What does Shahzad Saleem say about electricity costs in Pakistan?

Shahzad Saleem has said industrial electricity costs 35 to 40 rupees per unit. He has said electricity is expensive because of non-recovery, not because of IPPs. He has also said cheap electricity can be produced in Pakistan.[1]

References

  1. We have killed hope: the Nishat CEO on Pakistan's broken engine . Thought Behind Things , 2024-08-30.
Show the source passages (67 statements)
  1. He is the CEO of Nishat Chunian Ltd. Shahzad Saleem is the CEO of Nishat Chunian Ltd and the Chairman of the Board at Saleem Memorial Trust Hospital.
  2. He is the Chairman of the Board at Saleem Memorial Trust Hospital. Shahzad Saleem is the CEO of Nishat Chunian Ltd and the Chairman of the Board at Saleem Memorial Trust Hospital.
  3. He has said he has been working for 35 years. I've been working for 35 years
  4. He was admitted to LUMS. Main LUMS mein jab admission hua mera
  5. He has said he was in the second batch of students at LUMS. Us zamane mein koi LUMS mein apply nahi karta tha. I was in the second batch.
  6. He has said he was on the Dean's Honor List after his first quarter at LUMS. Us zamane mein koi LUMS mein apply nahi karta tha. I was in the second batch. Dakhla ho gaya, main pehle quarter ke baad Dean's Honor list pe hoon.
  7. He has said he failed an English test that was set after his admission. Uske baad kisi genius ko khayal aaya ke English language ka test hona chahiye. Main fail ho gaya.
  8. He has said he graduated third in his class at LUMS. aaj mera LUMS mein dakhla nahi ho sakta. And I graduated third in my class.
  9. He has said he runs a company that cannot hire from outside eight to ten institutions, which he attributed to a poor education system. Aaj main ek company chalata hoon, I can't find taleem ka nizam itna kharab hai ke aapke yeh 8-10 idaron ke ilawa aap kahin se hire nahi kar sakte
  10. He has said that at interest rates of 20 to 22 percent, the cost cannot be passed on. And given that with the 20%, 22% interest rates, yeh cost toh pass on nahi ho sakti
  11. He has said businesses cannot simply close today and reopen tomorrow. Aur businesses koi aisi cheez nahi hote ki aaj band ho jayenge toh kal dobara shuru ho jayenge.
  12. He has said many businesses are in irreversible decline. bahut saari businesses toh irreversible decline mein hain
  13. He has said the forward exchange rate is a differential of interest rates. the forward rate is a differential of interest rates
  14. He has said the whole economy runs on advance tax collection. so hamari poori economy jo hai na woh advance tax collection pe chal rahi hai
  15. He has said the minimum tax rate for the textile industry rose from 75% to 200%. textile industry toh minimum tax rate aaj 75% se 200% ho gaya
  16. He has said exporters were first put on a 1% full and final tax on revenue. pehle unhone kaha ki exporters jo hain unpe 1% tax hoga full and final of your revenue
  17. He has said exporters now pay a 29% corporate tax and a 10% super tax on profit. ab aap normal tax denge jo 29% corporate tax hai, 10% super tax hai on your profit
  18. He has said worker welfare and worker profit participation funds are charged on pre-tax profit. worker welfare funds, worker profit participation funds hain, woh saare pre-tax profit pe hain
  19. He has said he once told a government team not to help but to abolish the tax. Maine us din government ke team ko kaha, please hamari madad mat karein, yeh tax khatam kar dein
  20. He has said Pakistani cotton costs about the same as American cotton, and freight is the difference. Pakistan ki aur America ki cotton ki price farq nahi hoti, freight ka farq hota hai
  21. He has said a Pakistani borrowing from a bank abroad would pay 6% over LIBOR. aap duniya se jaake aaj Pakistani jaake agar bank borrow karna chahein toh aap 6% over LIBOR de denge
  22. He has said people avoid normal tax because they do not want to enter the FBR's net, given the harassment. Log normal tax isliye nahi denge ki FBR ke net mein nahi aana chahte, harassment bahut zyada hai
  23. He has said each department and ministry works in isolation. Har department, har ministry apne masail ke saath, apni pareshani ke saath chal rahi hai aur isolation mein chal rahe hain
  24. He has said Pakistan should apply the same tax across all sectors. Pakistan mein aapko across the board same tax lagana padega
  25. He has said PSDP spending should be stopped for two years. aap 2 saal ke liye PSDP band kar dein
  26. He has said FBR reform needs committed professionals, not people who serve for a few months. you need hardcore professionals. You don't need people jo ke kahe ji main char mahine ke liye mulk ki khidmat karne chala jaunga
  27. He has said the real elite capture in Pakistan is the English language. asal toh yahan elite capture angrezi zaban hai
  28. He has said he once made a presentation to Nawaz Sharif. maine Mian Nawaz Sharif sahab ko ek dafa ek presentation ki
  29. He has said the debt is not too large and that the tenor is the problem. Hamara debt zyada nahi hai, tenor ka problem hai
  30. He has said the main lenders are China and Saudi Arabia. Aapka main lender China aur Saudi Arab
  31. He has said the IMF is not going to give a master plan. IMF is not going to give us a master plan
  32. He has said that if he worked in the public sector, he would have to fill six forms. Agar main public sector mein hounga, mujhe 6 form bharne padenge
  33. He has said there is nothing wrong with PIA's staff, and PIA cannot run in the public sector. There's nothing wrong with the staff of PIA. It cannot run in public sector.
  34. He has said privatised banks gave many people the chance to advance. Ab dekhein yeh banks privatize hue toh bahut logon ko opportunity mili tarakki karne ki
  35. He has said businesses are not very profitable because of multi-layer taxation. businesses are inherently not very profitable because of the multi-layer taxation
  36. He has said that if debt is at 19 percent, equity needs a return of about 25 percent. agar debt hi 19 pe hai toh aapko equity mein toh 25% return chahiye
  37. He has said regulation in Pakistan has become excessive. main yeh samajhta hoon over-regulation ho gayi hai
  38. He has said regulatory requirements make small business unviable. Jitni requirements hain woh itni cost badh gayi hai ke small business ke liye toh viable hi nahi raha
  39. He has said cotton yarn used to be the number one export item. aapka number one item export ka cotton yarn hota tha
  40. He has said the minimum wage is not one figure but an 80-page gazette. minimum wage ek nahi hai, 80 page ka gazette hai
  41. He has said some rebates have been pending for 10 years. some items of rebates which are pending for 10 years
  42. He has said Pakistan's risk-free rate is 19%. Risk-free rate Pakistan mein 19% hai
  43. He has said anti-business sentiment makes working in Pakistan hard. itni zyada anti-business Pakistan mein sentiment hai ke yahan kaam karna aasaan nahi hai
  44. He has said industrial electricity costs 35 to 40 rupees per unit. electricity ki price 35 rupay se 40 rupay unit hai jo ke industry ke liye hai
  45. He has said there has been no new investment by Pakistani entrepreneurs in the last 10 years. there is no new investment by Pakistani entrepreneurs let's say in the last 10 years
  46. He has said the debt portion of an IPP tariff is set by the government. The debt portion is decided by the government in the tariff
  47. He has said the cost of one plant rose by 300%. Nandipur ka plant 300% cost badh gayi
  48. He has said he advised successive governments to restructure the loans. maine government ko kai successive governments ko samjhaya ki aap loan ko restructure karein
  49. He has said electricity is expensive because of non-recovery, not because of IPPs. yeh IPP ki wajah se bijli mehngi nahi hai, yeh non-recovery ki wajah se mehngi hai
  50. He has said cancelling the agreements would bankrupt Pakistani banks. Kal ko aap muahide cancel kar dijiye toh Pakistani banks bhi bankrupt ho jayenge
  51. He has said a PE ratio of around 30 would give companies cheaper capital. Pakistan mein agar PE ratio 30 hoga na toh aapko sasta capital milega
  52. He has said cheap electricity can be produced in Pakistan. sasti bijli ban sakti hai Pakistan mein, koi problem nahi hai
  53. He has said imported coal could produce the cheapest electricity in Karachi. Aaj imported coal pe Karachi mein sabse sasti bijli ban sakti hai
  54. He has said he has no coal project. Mera toh koi coal ka project nahi hai
  55. He has said placing the power plant in Punjab was the right decision. Main aaj bhi samajhta hoon ki Punjab mein power plant lagna was the right decision
  56. He has said a very robust commerce ministry is needed to negotiate these things. we need to have, you know, very robust commerce ministry to negotiate these things
  57. He has said handing out subsidies to people will not solve the problem. Hamein logon ko subsidies baantne se masla hal nahi hoga
  58. He has said Australia applies punitive duties to Pakistan. Australia mein Pakistan pe punitive duties hain
  59. He has said he is never in favour of revisiting past international commitments. I am never a proponent of going back and looking at what you have done
  60. He has said the accountability mindset is very dangerous for business. yeh jo ehtesaab ka mindset hai na, yeh business mein bahut dangerous hai
  61. He has said Pakistanis themselves will fix this country, and that the idea of foreign investment should be dropped. ke ek toh Pakistani log hi is mulk ko theek karenge, yeh foreign investment hum apne dimaag se nikal dein
  62. He has argued that the Benazir Income Support Programme budget could fund world-class education for every child. Benazir Income Support Programme hai, 500 arab hai, toh isse toh aap Pakistan mein matlab har bachche ko ek world class education de sakte hain
  63. He has said people with vocational skills should be sent abroad, not only laborers. Abhi toh hum mazdoor bhej rahe hain na, laborer bhej rahe hain. Let's send people abroad who can do vocational things
  64. He has said he likes to be an optimist. I like to be an optimist
  65. He has said Pakistanis who work in England and America do well, so the claim that they do not work is wrong. Yahi Pakistani aadmi aake England mein toh kaam kar leta hai, America mein bhi kar leta hai
  66. He has said a culture of vigilante justice is being built in the country. Yeh jo vigilante justice hum bana rahe hain is mulk ke andar
  67. He has said that in working for the welfare of the common man, the country has been ruined. Yeh aam aadmi ki bhalai karte karte humne uska beda garak kar diya is mulk ka