Asim Munir credited with investor confidence: Javeed Iqbal

Army chief reforms spark private sector optimism, Tax changes welcomed, but power tariff is a concern: UBG-VC
MIRPUR
Leading business figures have praised recent amendments to tax laws while calling for deeper structural reforms to reduce operational costs that continue hampering industrial competitiveness.
United Business Group North Zone Vice Chairman Ch. Javeed Iqbal welcomed the removal of provisions that previously empowered lower-grade tax officials to arrest businessmen without adequate oversight, which was essential for rebuilding trust between entrepreneurs and regulatory authorities.
The business leader credited Field Marshal Syed Asim Munir’s leadership approach for addressing systemic challenges that have long plagued Pakistan’s commercial environment. Munir’s strategy of balancing national security imperatives with economic development priorities has generated renewed confidence among investors and stakeholders.
The military’s commitment to both defending Pakistan’s sovereignty and supporting economic reforms has restored national pride and business confidence, Ch. Javeed Iqbal told the business community during his address.
Despite acknowledging these positive developments, he emphasized that significant cost barriers persist, particularly within the energy sector. Pakistan maintains a substantial competitive advantage through its 50 percent tariff structure on Indian imports, which should boost exports. Still, current electricity pricing and elevated interest rates threaten to negate this potential advantage.
He urged authorities to implement aggressive tariff reductions, targeting nine cents per unit for industries while pushing interest rates into single-digit territory to maintain international competitiveness.
Ch. Javeed Iqbal criticized SNGPL’s recent decision to impose retroactive gas levies covering the previous five years.
He said that the business community remains committed to fulfilling tax obligations but insists that regulatory reforms must shield entrepreneurs from arbitrary enforcement practices and intimidation tactics.
He also recognized SM Tanveer’s sustained advocacy efforts in addressing business community concerns and bridging communication gaps with the authorities.
Without swift action on electricity tariffs and interest rate reduction, Pakistan risks losing valuable export contracts to more competitive economies, potentially triggering severe consequences for employment levels and overall economic health.
He noted that Field Marshal Asim Munir’s dual emphasis on defence capabilities and economic progress offers genuine hope for achieving greater prosperity and security.