KARACHI: Zubair Motiwala, Chairman of the Businessmen Group, hailed Pakistan's diplomatic efforts in brokering a ceasefire between the United States and Iran as a pivotal achievement, equating it to the country's independence. According to Karachi Chamber of Commerce and Industry, Motiwala emphasized the significant role played by Prime Minister Shehbaz Sharif, Field Marshal Asim Munir, and Deputy Prime Minister Ishaq Dar in averting a larger conflict, thereby enhancing Pakistan's global standing.

During an urgent meeting, Motiwala underscored the importance of leveraging this diplomatic success to address pressing economic issues. He highlighted the need for Pakistan to move forward with the Iran-Pakistan gas pipeline project to secure affordable energy, which is crucial for the country's industrial competitiveness. He also urged the government to reinstate the zero-rated sales tax for export-oriented industries to alleviate liquidity problems and boost economic recovery.

Motiwala further called for immediate measures to reduce production costs and enhance export competitiveness, stressing the necessity of rationalizing taxes and utility tariffs. He noted the importance of reintroducing freight subsidies and addressing high electricity and gas tariffs to support the business community amid global economic challenges.

Leaders from various chambers and trade associations echoed these sentiments, emphasizing the opportunity to mitigate the economic impact of recent geopolitical tensions and advocating for strategic energy and trade policies. They also proposed specific incentives to support exporters and called for a reduction in transport and petroleum costs to ease inflationary pressures. The meeting concluded with a commitment from the business community to collaborate with the government in implementing these economic reforms.