Karachi, September 9, 2025- United Business Group (UBG) Patron-in-Chief, Mr. S.M. Tanveer, has strongly urged the State Bank of Pakistan (SBP) to reduce the policy interest rate to 6%, warning that the current high rate of 11% is severely damaging industrial production and overall economic activity.
Speaking at a dinner hosted in honor of UBG Sindh Region Chairman, Mr. Khalid Tawab, at his residence, Mr. Tanveer emphasized that a sharp drop in the Consumer Price Index (CPI) to 3% in August 2025 has rendered the existing interest rate unsustainable.
“The business community cannot thrive in an environment where the cost of borrowing is unjustifiably high,” said Tanveer. “Reducing the interest rate to at least 6% is now an economic necessity.”
He explained that such a step would revive industrial activity, generate employment, boost export competitiveness, reduce the government’s debt burden of over Rs. 3.5 trillion, and help restore investor confidence.
“This is not just about helping industries — it’s about economic stability, job creation, and regaining momentum in both domestic and international markets,” he added.
Tanveer urged Chambers of Commerce, trade bodies, and business leaders across the country to unite in demanding rational, growth-oriented economic policies from policymakers.
“The business community and the people of Pakistan are now watching the policymakers. We need timely and strategic decisions that ensure long-term economic prosperity,” he remarked.
On this occasion, Khalid Tawab, UBG Sindh Region Chairman, echoed the call for unity within the business community and emphasized the importance of collective effort.
“We are bringing the business community in Sindh together on a conflict-free platform,” Tawab stated. “Under the leadership of Mr. Tanveer, we are committed to solving the challenges faced by businesses through a unified and organized approach.”
The dinner was attended by several prominent business figures, including Shabnam Zafar, Zaki Ijaz, Manzoor-ul-Haq Malik, Ahmed Tawab, and others.
