LAHORE: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) leader S M Tanveer has urged policymakers to devolve powers to the common man to promote a more decentralised and inclusive economic framework across the country.
Speaking at Jamaat-e-Islami’s annual congregation at Minar-e-Pakistan on Saturday, Tanveer said the goal of devolution should be to shift economic decision-making to the district level, empowering local communities and unlocking untapped regional potential. “By doing so, we can unlock the true potential of our nation and build a more prosperous and equitable society for all citizens,” he said.
Explaining his concept of a district-based economy, the FPCCI leader noted that Pakistan’s economic growth has long been undermined by centralised decision-making, which has “stifled local innovation, hindered entrepreneurship, and widened regional disparities.” He said the district economy model would enable local governments to set their own economic priorities and create business-friendly environments at the grassroots level.
Drawing a comparison with global trends, Tanveer highlighted the widening gap between Pakistan’s GDP—approximately $411 billion—and the personal wealth of leading global entrepreneurs. “Elon Musk’s projected net worth stands at about $500 billion in 2025, which clearly shows how far we are lagging due to over-centralisation of powers and resources,” he remarked.
Tanveer said devolving powers and resources to the district level could help generate employment, stimulate entrepreneurship, improve fiscal management, and reduce economic disparities among regions.
“The District Economy concept is a game-changer for Pakistan,” he stressed, adding that it would encourage innovation, boost tax revenues, and support balanced and sustainable growth.
Copyright Business Recorder, 2025
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