KARACHI: United Business Group (UBG) Patron-in-Chief SM Tanveer has declared that Pakistan must rise as an “Asian Tiger” to counter India, stressing that India “will not slow down” in its competition with China.
Speaking at a press conference in Karachi, he underlined the urgency of strengthening Pakistan’s economy to face regional challenges.
Tanveer welcomed recent reductions in electricity tariffs but called for further reforms, setting a target of lowering power costs to Rs26 per unit. He emphasised that broad opportunities for development exist across all sectors, while the government aims to raise exports to $100 billion. He urged collective hard work to achieve national growth.
He identified unemployment and inflation as the main barriers to progress, pointing out that Pakistan holds $4–5 trillion worth of natural resources while its GDP currently stands at $412 billion. “With our present trajectory, this is not sustainable,” he remarked.
He added that despite a population increase to 250 million, Pakistan still operates with just four provinces, the same as when the population was only a few crores. He urged work at district and divisional levels to properly organise local economies.
SM Tanveer highlighted that under the National Finance Commission (NFC) Award, the federal government receives 42 percent while provinces receive 58 percent, yet the distribution fails to trickle down effectively. He criticised the lack of ownership at divisional levels, noting that commissioners are frequently transferred within six months.
