LAHORE: United Business Group Patron-in-Chief SM Tanveer criticised government's recent decision to increase electricity costs for commercial use, arguing that such hikes are severely damaging industries.

Speaking at joint press conference with former Minister Gohar Ejaz, Tanveer voiced deep concern over impact of high electricity rates on industrial operations, asserting that they undermine profitability and discourage investment in businesses. He emphasised that substantial rise in power bills has created hostile environment for businesses, making it increasingly challenging for industries to maintain operational efficiency. He highlighted economic hardships caused by these increased costs, noting detrimental effect on overall industrial landscape across Pakistan. He stressed crucial role of boosting exports as key strategy for economic recovery.

Tanveer expressed disappointment over what he described as insufficient progress in addressing concerns of the business community, particularly regarding government policies impacting industrial sectors. In response, Tanveer called upon Gohar Ejaz to take leading role in advocating for interests of the national business community. Ejaz echoed Tanveer's sentiments, emphasising urgent need to resolve grievances within industrial sector to facilitate sustainable economic growth. Discussion also touched upon necessity for government to review its agreements with Independent Power Producers, topic of ongoing concern for Tanveer. He urged policymakers to undertake comprehensive review of these agreements to alleviate financial burdens on industries and promote economic stability.

As concerns mount over escalating energy costs and their impact on industries, Tanveer and Ejaz's joint press conference underscores urgency of addressing these issues to support industrial productivity and foster conducive environment for business development in Pakistan.