KARACHI: Patron-in-Chief of the United Business Group (UBG), S M Tanveer, said that businesses cannot function simply by keeping money in banks, adding that investment and the operation of industries are essential to activate the economy.
He said UBG has prepared a shadow budget which will soon be presented.
He further stated that UBG has established an economic think tank to provide recommendations regarding the federal budget for the upcoming fiscal year.
He expressed these views while addressing a dinner hosted in his honor by UBG President Zubair Tufail last night.
Renowned industrialist and social leader Bashir Jan Mohammad, Khalid Tawab, and the host also addressed the gathering.
The event was attended by former Governor of Sindh Moinuddin Haider, Saqib Fayyaz Magoon, Salman Tufail, Mazhar Ali Nasir, Hanif Gohar, Ahsan Bakhtawari, Dr Abdul Bari, Tariq Haleem, Mian Zahid Hussain, Waseem-ur-Rehman, Malik Khuda Bakhsh, Umar Rehan, Rashid Siddiqui, Dr. Imran Yousuf, Shehzad Mubeen, and others.
Tanveer said there is an urgent need for the trade policy to address how the 80 closed industries can be revived.
He added that he has visited all four provinces of Pakistan, including Gilgit-Baltistan, and has traveled to Khyber Pakhtunkhwa more than 13 times to understand the issues faced by the business community there.
He said that the ruling and opposition groups within FPCCI have joined hands because internal conflicts damage their respect and allow governments to take advantage.
He added that Bashir Jan Mohammad advised them to end differences and work together for the business community. He also acknowledged Anjum Nisar as an important leader and said they have pledged to work jointly for the improvement of the national economy.
He said a five-member high-power committee has been formed through consultation to nominate candidates for the Federation on merit and based on vote bank strength.
Candidates must come forward with the intention of serving the business community sincerely for two years and improving the country’s economy.
“We need results so that we can raise the standard of FPCCI,” he remarked.
He further revealed that an economic think tank has also been established under the leadership of Bashir Jan Mohammad, which has prepared a five-year economic development plan along with the shadow budget.
UBG President Zubair Tufail said that S M Tanveer is a courageous Patron-in-Chief of UBG who is visiting remote areas to understand the problems of the business community. He added that due to his leadership, the future of UBG is secure.
He said that Independent Power Producers (IPPs) and energy remain major issues, while industries are receiving expensive electricity and gas.
For export growth and competitiveness in international markets, Pakistan’s industry needs affordable electricity and gas.
Bashir Jan Mohammad said that S M Tanveer is undoubtedly the best successor to S M Muneer, and expressed happiness that the entire business community of the country has become united.
He said governments used to create divisions among them, but now they are united and there will be only one election.
He added that if the elite class is facing severe problems in the country, one can imagine the condition of the poor.
Therefore, the time has come to give back to the country, and businessmen should establish schools and hospitals in their names.
Khalid Tawab said that under the current circumstances, they cannot afford conflicts and disputes.
He stressed that industries must be established in the greater national interest so that unemployment can be reduced.
Copyright Business Recorder, 2026
Comments