WNAM REPORT: Ahsan Bakhtawari, member of the Central Core Committee of United Business Group (UBG), said that the economic vision and policy proposals of UBG’s Patron-in-Chief S.M. Tanveer are extremely important for the improvement of the national economy, as his thinking is grounded in reality and accurately reflects the genuine challenges faced by industry and trade.
He made these remarks during a meeting with a delegation of traders at his office.
Ahsan Bakhtawari emphasized that economic growth is only possible through a strong industrial base, increased exports, job creation, and a real reduction in business costs. Expressing deep concern over the serious situation facing the textile industry, he noted that more than 150 factories have already closed, with many more at risk—a dangerous alarm for the national economy.
He stated that if the government truly wants to boost exports and revive industry, it is imperative to immediately reduce electricity and gas prices, provide the textile industry with electricity at a minimum of 9 cents per unit in line with regional competitiveness, eliminate cross subsidies, replace packer rates with flat rates, and reduce the interest rate to a single digit, between 7–8%.
Ahsan Bakhtawari pointed out that exports have declined from $16.5 billion in October to $15 billion, clearly showing that current industrial policies are not producing the desired results. He stressed that the textile industry is the backbone of the national economy, and without immediate and substantial measures to save it, economic recovery will not be possible.
He urged the government to implement industry-friendly policies, abolish unnecessary taxes, make electricity and gas affordable, and reduce interest rates below 10% to restore business confidence, thereby enabling employment growth, increased exports, and economic stability.
