Karachi, S.M. Tanveer, Patron-in-Chief of the United Business Group, congratulated Asif Ali Zardari and Mian Shehbaz Sharif on their elections as President and Prime Minister of Pakistan, outlining his expectations for economic reforms under their leadership.

According to United Business Group, Tanveer expressed his hope that the new government, under Zardari and Sharif's leadership, would take decisive actions to address Pakistan's economic challenges. He emphasized the importance of reducing the key policy rate and implementing targeted measures to lower industrial costs and spur economic growth.

Tanveer recommended a substantial 6 percent reduction in interest rates by the State Bank of Pakistan in its upcoming monetary policy to support industrial development. He highlighted the urgency of tackling record-high inflation and economic slowdown by prioritizing core inflation and advocating for competitive power tariffs for industries.

The business leader also called for addressing the high utility charges, reducing bank interest rates to single digits, and resolving power and gas shortages to revive business activities. Additionally, Tanveer emphasized the necessity of expediting the privatization process to eliminate inefficient state-owned enterprises and stimulate economic expansion.

Concluding his statement, Tanveer conveyed his best wishes to the new cabinet members, urging them to support the business community and contribute to Pakistan's economic prosperity.