Pakistan must expand businesses tenfold to boost economy: SM Tanveer
Business
UBG Patron-in-Chief S.M. Tanveer urged Pakistan to expand business activity tenfold to boost jobs and taxes, reform governance by creating smaller provinces, and rely less on foreign loans.
ISLAMABAD (Dunya News) - United Business Group (UBG) Patron-in-Chief SM Tanveer has said that Pakistan must expand the size of its businesses tenfold in order to widen the tax net and strengthen the national economy.
Speaking to the media in the federal capital, Tanveer stressed that if electricity costs are high, people should install solar systems to cut down expenses. He added that Pakistan is earning respect globally, and it’s time to focus on growth rather than complaints.
“We need to grow our businesses ten times bigger,” he said. “The larger our businesses become, the more jobs we create and the more tax revenue we bring to the country. We have nothing to do with politics; our aim is economic progress.”
Tanveer highlighted that the government is investing Rs3.2 trillion in health and education, but added that a lot more effort is needed in these sectors. He appreciated Punjab’s Education Minister Rana Sikandar Hayat, mentioning that his own child studies in a public school — a sign of trust in the public education system.
He pointed out that Pakistan has ample natural resources, including oil, minerals, and mines, and questioned, “When we have so much, why do we still depend on IMF loans? Somewhere, we must have gone wrong.”
Tanveer further said that Pakistan’s system needs an overhaul, calling for the creation of smaller provinces to ensure better governance. “We can’t fix such huge provinces effectively. There are thousands of schools and hospitals — how can one administration handle them all?” he asked.
Proposing a new structure, he said, “We have 33 divisions; let’s turn them into 33 provinces. Back in 1947, India had 9 provinces and now has over 30, while Pakistan still has only 4, despite a population of 250 million.”
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He stressed that power must be devolved to the grassroots level for real progress. “Our enemies are watching us closely and trying to retaliate every day, but the Pakistan Army is standing tall, defending the nation and raising Pakistan’s global reputation. We too have a duty — and we must play our part.”
