Converting divisions into provinces can boost economy, $100 billion exports in 5 years: S.M. Tanveer

Karachi (Web Desk): FPCCI leader and UBG Patron-in-Chief, S.M. Tanveer, addressed members at a dinner organized by KATI in Karachi. Sindh’s Minister for Industry, Ikramullah Dharejo, was also present at the event.

In his speech, S.M. Tanveer highlighted key economic reforms, including the reduction in industrial electricity rates from 48 to 31 rupees per unit, a decrease in the bank markup rate from 22% to 11%, and a savings of 3,600 billion rupees through negotiations with IPPs (Independent Power Producers).

Tanveer emphasized the importance of the "District Economy" project, stating that transforming divisions into provinces will strengthen the national economy and could lead to exports of up to 100 billion dollars in the next five years. He clarified that this model was developed by the FPCCI’s Economic Policy Board.