LAHORE: The United Business Group (UBG) has decided to end alliance with the Businessmen Panel (BMP) and contest the upcoming elections of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) independently, with UBG Patron-in-Chief SM Tanveer set to become the group’s next president, its leaders announced on Saturday.
Speaking at a press conference, FPCCI President Atif Ikram Sheikh, FPCCI Regional Chairman and Vice President Zaki Ijaz, Lahore Chamber of Commerce and Industry (LCCI) President Ali Hussam Asghar, former FPCCI Regional Chairman and Vice President Abdul Rauf Mukhtar and other business leaders said the decision had been taken after consultations within the group’s core and subcommittees.
They said the alliance with the BMP Progressive Group led by Saqib Fayyaz Magoon had remained successful and would continue in the future. However, the group had decided against maintaining its alliance with the BMP in the upcoming elections.
The UBG leaders said they had won the previous election by a margin of 144 votes and expressed confidence in their performance in the next contest, citing SM Tanveer’s contributions to the business community.
They alleged that the BMP had acted improperly by sharing a memorandum of understanding (MoU) with the market. They said UBG had invited BMP leaders to various events on several occasions and provided them opportunities for dialogue, but had not received similar invitations in return.
The leaders further alleged that the BMP had announced its candidate for senior vice president without consulting the UBG. They also cited the BMP’s decision to terminate its agreement with the Progressive Business Group (PBG) at the Lahore Chamber as a factor behind the breakdown of the alliance.
The UBG leadership said the group’s decision to contest independently followed a review of these developments and consultations among its members.
Commenting on its performance at the FPCCI, the leaders described their tenure as successful, saying they had consistently sought to raise the concerns of the business community before government bodies and relevant institutions and pursue their resolution.
They said protecting the interests of Pakistan’s business, trade and industrial sectors and contributing to economic improvement had remained their key priorities.
Copyright Business Recorder, 2026
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