| Lahore: The United Business Group (UBG) Patron-in-Chief S. M. Tanveer has called on the government to prioritise facilitating the business community after concluding talks with the International Monetary Fund (IMF). The news has been drawn from a publication dated September 27.
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As per the details, he noted that while loans can help the government manage its finances, they do not support long-term business growth. Patron-in-Chief Tanveer urged the State Bank of Pakistan (SBP) to reduce interest rates by 300 basis points to help revive closed industrial units and boost employment.
He also advocated for resolving issues related to Independent Power Producers (IPPs) and reducing electricity costs to PKR 25 per unit, enabling Pakistan’s export industry to remain competitive in the region.
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Highlighting the country’s debt challenges, Patron-in-Chief Tanveer pointed out that 58% of Pakistan’s tax revenue is used to service debts and interest payments. This debt burden, he said, places immense pressure on the business community. |
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