Lahore (Web Desk): United Business Group (UBG) Chairman and leader of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) leader SM Tanveer has urged the government to immediately implement the FPCCI’s District Economy Plan.
He said the initiative represents a comprehensive economic framework that can play a pivotal role in strengthening the country’s economy.
Tanveer stressed that the creation of new provinces would help accelerate economic development, as over-centralization of authority has proven detrimental to economic growth.
He emphasized that economic decision-making powers should be devolved to local leaderships to activate district-level economies.
“Without empowering district economies, national development cannot be achieved,” SM Tanveer asserted.
Highlighting Pakistan’s current economic status, he pointed out that the country’s Gross Domestic Product (GDP) stands at $411 billion — even less than the personal wealth of one of the world’s richest individuals, Elon Musk, valued at $500 billion.
The United Group chief attributed this disparity primarily to the excessive centralization of power.
Calling the District Economy Plan a “game changer,” SM Tanveer said the project is a positive step toward revitalizing local economies and holds the potential to push Pakistan’s exports to as high as $200 billion.