KARACHI: The Chief Patron of the United Business Group (UBG) and former provincial minister, SM Tanveer, stated that the rise in fuel prices is due to the situation in the Middle East.
He also mentioned that Pakistan’s relations with Iran are further strengthening, and that the business community is working alongside the government to improve the economy.
Under the leadership of Field Marshal Asim Munir and the Prime Minister Pakistan Shahbaz Sharif has become a military tiger, he said.
“We are still advocating for economic autonomy at the divisional level, as smaller provinces or units are the solution to the issues.
Whether the government creates provinces or units, it must address the business community’s concerns,” he added during his speech at the inauguration of the EV Charging Corporate Office of Malik Group of Companies.
SM Tanveer remarked that the government’s scheme to build 500,000 homes suggests that the federal government is giving special importance to the real estate sector.
He also mentioned that the government is offering homes worth up to one crore rupees as part of the scheme, which is expected to be implemented over the next three years. He added that if payments are made under this scheme, there would be a direct 2% impact on the GDP.
He urged the government to offer homes to middle-class families at a 5% interest rate for houses worth 5 crore rupees.
Malik Khuda Bakhsh, Chairman of Malik Group, spoke about the energy crisis and announced plans to set up over 3,000 EV charging stations across Pakistan, including Karachi.
These stations are being established in partnership with the Sindh government through a public-private partnership, with full support from provincial minister Syed Nasir Hussain Shah.
The goal is to install 391 stations in Karachi, with 1,000 stations planned across the country in the next year.
He highlighted that the future of energy and EV charging lies in these stations, emphasizing that the public must embrace EV charging as part of the solution to the energy crisis.
He also mentioned a partnership with a Chinese company for the installation of EV chargers and a collaboration with a UK company, “Sita,” to meet the growing demand for AC chargers.
The goal is to install one charging station every 50 kilometres in Sindh’s other districts. Malik Khuda Bakhsh also acknowledged the challenges of importing equipment due to the ongoing conflict in the Middle East but noted that the peace efforts and ceasefire are allowing work to begin.
Malik Khuda Bakhsh expressed appreciation for Prime Minister Shehbaz Sharif and Field Marshal Asim Munir for their efforts toward peace and resolution, acknowledging that their initiatives have earned global recognition. He also thanked SM Tanveer for his leadership in supporting the business community, which continues to play a significant role in Pakistan’s economic development.
Abdul Sami Khan also addressed the gathering, shedding light on the issues facing the petroleum industry, while also emphasizing the future potential of EV charging stations as a promising business opportunity. The event concluded with the formal inauguration of the EV charging station by SM Tanveer.
Copyright Business Recorder, 2026
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