Karachi: The recent reduction in electricity tariffs has been hailed as a significant milestone for Pakistan’s economic revival, made possible through the relentless efforts of S. M. Tanveer, Patron-in-Chief of United Business Group (UBG). This achievement comes after over a year of dedicated advocacy and persistent engagement with relevant authorities.
Syed Mazhar Ali Nasir, Vice Chairman of UBG Sindh Region and former Senior Vice President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), commended S. M. Tanveer’s unwavering commitment to addressing the high cost of electricity—a long-standing challenge faced by Pakistan’s industrial and commercial sectors.
He extended his heartfelt gratitude to the Prime Minister and the power sector reform team for their visionary decision, which is expected to have far-reaching positive implications for businesses and the public alike.
“On behalf of the business community, I congratulate S. M. Tanveer for his tireless efforts. His commitment has culminated in a major achievement that will benefit millions across the country,” Nasir stated. He also acknowledged the crucial role played by FPCCI and other trade bodies in supporting S. M. Tanveer’s mission.
This power tariff reduction is anticipated to significantly lower operational costs across key sectors such as textiles, construction, and manufacturing—strengthening Pakistan’s competitiveness in global markets. Industries will be better equipped to scale up production, meet rising export demands, and generate employment opportunities, thus fostering economic growth.
Small and Medium Enterprises (SMEs), in particular, stand to benefit as reduced electricity costs will improve their financial viability and market competitiveness. The move is also expected to stimulate investor confidence, attract foreign investment, and reduce reliance on smuggled goods through increased domestic production.
Furthermore, this development may accelerate the adoption of electric vehicles, paving the way for a more sustainable and energy-efficient future.
“With this reduction, Pakistan’s industrial sector can now compete more effectively with regional players. This is a historic achievement for which the business community will always remember S. M. Tanveer’s leadership and determination,” added Mazhar.
