Nankana Sahib ( WNAM REPORT ): Patron-in-Chief of the United Business Group (UBG), S.M. Tanveer, has said that if Pakistan’s interest rate is brought down to 6%, the government can save Rs. 3.5 trillion annually . He noted that currently the interest rate stands at 11%, due to which the country is paying Rs. 8.5 trillion annually in debt servicing alone.
Addressing the inaugural ceremony of the Nankana Sahib Chamber of Commerce as the chief guest, S.M. Tanveer emphasized that Nankana Sahib is a sacred city for the Sikh community and holds immense religious and economic potential. “This city can play a vital role in improving the national economy through tourism. The Sikh community is financially strong and deeply loves Pakistan. If we provide modern hotels, quality services, and necessary infrastructure here, this region could attract significant foreign investment,” he said.
The event was attended by Zafar Bakhtawari, Secretary General UBG; Malik Shabbir Awan, President of Talagang Chamber; Malik Nadeem Akhtar, former President of Islamabad Chamber of Small Traders and Small Industries; Raja Naveed Akhtar Satti, Vice Chairman All Pakistan Mines Owners Association; Imtiaz Abbasi, former Executive Member of ICCI; Zaki Ijaz, Vice President FPCCI; Kashif Khokhar, President of Kasur Chamber; Malik Manzoor-ul-Haq, Patron-in-Chief Sheikhupura Chamber; Abdul Rauf Mukhtar, former President of Rahim Yar Khan Chamber; and other business leaders.
S.M. Tanveer paid tribute to his late father, saying: “My father dedicated his life to serving the business community. We are following in his footsteps, though reaching his stature is impossible. We will continue our struggle nonetheless.”
He reaffirmed UBG and FPCCI’s full support for the newly established Nankana Chamber. “Our target is to increase exports. We’ve already responded to hostile neighbors like India diplomatically and commercially—now we must win the battle for economic survival. Within the next five years, we aim to make Pakistan an ‘Asian Tiger’. No one will come from outside to solve our problems; we must fix them ourselves,” he said.
Touching on the Independent Power Producers (IPPs) crisis, he revealed that a Rs. 2.3 trillion fraud had been uncovered. “Electricity rates have come down from Rs. 48 to Rs. 31 per unit, and we aim to further reduce it to Rs. 26 per unit for industrial use,” he added. “We are now fighting an economic war, and God willing, we will emerge successful.”
Zafar Bakhtawari, Secretary General UBG, in his speech, stressed that Nankana Sahib is geographically and economically a strategic city. “Thousands of Sikh pilgrims from across the globe visit Nankana every year. If we establish a strong and functional chamber here, this region can play a new geo-strategic role on the global stage,” he said.He assured full support from UBG in the construction of a chamber building and making it one of the strongest chambers in Pakistan. “S.M. Tanveer is a respected figure who not only upholds his father’s legacy but is also in direct contact with the business community,” Bakhtawari added. He also appreciated Ahsan Bakhtawari for naming the new auditorium at Islamabad Chamber after S.M. Muneer, calling it a remarkable step to inspire the new generation.Sardar Nadeem, President of the newly formed Nankana Chamber of Commerce, said the establishment of the chamber was necessary for effective representation of local industries, especially rice mills and small-scale manufacturing units. “Nankana is transforming into a commercial district, yet our export contribution remains less than 1%, which is alarming. We need national-level representation and opportunities to contribute meaningfully to the country’s economy,” he stated.
He thanked S.M. Tanveer, Zafar Bakhtawari, and UBG leadership for becoming the voice of Nankana’s traders. He also officially announced joining UBG, and presented traditional turbans and floral garlands to both leaders in a gesture of honor.
