Chairman Businessmen Group (BMG) Zubair Motiwala, while terming the US-Iran ceasefire as the biggest achievement after Pakistan’s independence, said that the development had brought immense pride and prestige to Pakistan because it was Pakistan which had effectively saved the world from the possibility of a much larger conflict.
Speaking at an urgent meeting held on Wednesday, Zubair Motiwala stated that Prime Minister Shehbaz Sharif, Field Marshal Asim Munir and Deputy Prime Minister Ishaq Dar deserved the highest level of national and international appreciation for their exceptional statesmanship, visionary leadership and extraordinary diplomatic efforts in securing the ceasefire. He said that at a time when the world was moving dangerously close to a catastrophic conflict, Pakistan’s leadership displayed remarkable wisdom, courage and maturity by taking the initiative to bridge differences between the two sides and pave the way for peace.
On behalf of Karachi and Pakistan’s entire business community, he extended heartfelt congratulations. He paid glowing tribute to Prime Minister Shehbaz Sharif, Field Marshal Asim Munir, and Deputy Prime Minister Ishaq Dar for bringing immense pride, prestige, and honour to Pakistan on the global stage. He remarked that although many countries had been attempting to find a solution, it was Pakistan that ultimately took the lead, emerged as the most credible mediator and succeeded in accomplishing what many considered impossible.
He observed that the entire world was now taking Pakistan more seriously because the country had demonstrated its ability not only to deal with internal challenges but also to play a meaningful role in resolving major international crises. He expressed optimism that the 15-day ceasefire would continue beyond the initial period and gradually evolve into a durable peace arrangement, opening up opportunities for regional economic n, relaxation of sanctions and stronger trade between neighbouring countries.
Referring to the Iran-Pakistan gas pipeline project, Zubair Motiwala stressed that the United States should now allow Pakistan to proceed with this essential energy corridor, as Pakistan’s long-term growth and industrial competitiveness depend heavily on affordable, uninterrupted energy supplies. He said that if Pakistan was able to import gas and electricity from Iran, energy prices in the country could become regionally competitive, possibly even lower than those in Bangladesh, thereby creating far-reaching positive impacts on industrial production, exports and the overall economy.
Referring to the difficulties faced by industries over the past month due to geopolitical tensions, high freight costs, shipping disruptions, and rising energy prices, he said the business community was now in a position to present practical proposals for economic and industrial recovery.
Zubair Motiwala stressed that the government must focus on reducing the cost of doing business to levels comparable to those in competing countries, as Pakistani industries would not be able to compete internationally if domestic production costs remained significantly higher. He pointed out that the world was undergoing an intense price war and that Pakistan had no option but to rationalise tariffs and regulatory costs to protect exports and industrial activity.
In this regard, he emphasised the need to reinstate the zero-rated sales tax mechanism at the input stage for export-oriented sectors, including textiles, leather, surgical instruments, carpets and sports goods, noting that these sectors account for nearly 80 to 85 per cent of Pakistan’s exports. He said that replacing zero-rating with a refund-based system had created severe liquidity problems for exporters due to long delays in refund payments and the heavy financial burden of blocked working capital. Restoring zero-rating, he said, would improve liquidity, reduce financing costs and strengthen the international competitiveness of Pakistani products.
Zubair Motiwala also proposed that customs duties and taxes should be assessed on the Ex-Works value rather than on the prevailing Cost and Freight basis.
Referring to electricity tariffs, he said that Pakistan’s industrial electricity rates remained highly uncompetitive, at approximately 14 to 16 US cents per kilowatt-hour, thereby significantly increasing production costs. He pointed out that although the federal government had introduced the Incremental Consumption Package and released around Rs7 billion for Karachi under the scheme, the benefit had not yet reached the industrial consumers. At the same time,e the total pending relief was estimated at approximately Rs33 billion. He urged the government to immediately disburse the pending relief and establish a transparent mechanism to ensure direct transfer of benefits to consumers.
He further noted that industrial gas tariffs had risen substantially while supply inconsistencies continued to disrupt production. Gas, he said, was a critical input for export-oriented industries, and the current pricing structure was seriously undermining competitiveness. He clarified that the business community was not demanding subsidised gas that should be supplied strictly on a cost-of-service basis and should not be treated as a revenue-generation tool.
Zubair Motiwala also highlighted that rising global shipping costs and insurance premiums had sharply increased logistics expenses for exporters. He stressed the need to reintroduce freight subsidy schemes so that exporters could maintain market access, competitive pricing, and contractual commitments in international markets.
Chairman BMG assured that Karachi Chamber’s business community stood fully united with the government of Pakistan and would continue to support every national effort in the larger interest of the country. He reiterated that the business community was not seeking subsidies because it understood the government’s fiscal limitations, but was merely demanding corrective measures that could make Pakistani exports competitive in international markets and help re-energize re-energizel economy.
Vice Chairman BMG Anjum Nisar, in his remarks, said that the same national spirit witnessed during the Pakistan-India conflict had once again emerged in the wake of the US-Iran ceasefire. He stated that it was a matter of immense pride that media worldwide had acknowledged Pakistan’s role in achieving the ceasefire, and that no country could be found that did not appreciate Pakistan for this historic accomplishment. He added that Pakistan had not only helped save one country but had also contributed to saving humanity and civilisation, stating that war.
Vice Chairman BMG Jawed Bilwani stressed that Pakistan must learn from this crisis by focusing on food security, energy conservation and strategic fuel reserves. He proposed that Pakistan maintain fuel and food reserves sufficient for at least 6 months to 1 year to better withstand future geopolitical shocks.
Vice Chairman BMG Mian Abrar Ahmed remarked that this was the time for the business community to contribute to national policy and convert challenges into opportunities. He said that the Iran-Pakistan gas pipeline should now be materialised to overcome the delay, and the government should also explore the possibility of establishing a petroleum pipeline with Iran, which could bring enormous economic benefits not only to Pakistan but to the entire region.
Vice Chairman BMG Tariq Yousuf said this was a historic day because Pakistan had played a leading role in preventing a much larger conflict. He pointed out that immediately after the outbreak of war, prices of nearly everything had increased sharply. Therefore, the government must now formulate strategies to reverse these trends so that the hardships faced by the business community and the commoner can be minimised.
Sminimized on the occasion, President KCCI Rehan Hanif termed the US-Iran ceasefire a breakthrough. He said that the world had been saved from widespread destruction due to Pakistan’s pivotal diplomatic role. He paid tribute to Prime Minister Shehbaz Sharif, Field Marshal Asim Munir, and Deputy Prime Minister Ishaq Dar for their tireless efforts over the previous 72 hours to bring both sides closer to an agreement.
He said that the basic purpose of convening the meeting was to collectively deliberate on practical, workable, and forward-looking measures by which the business community could guide the government in ensuring that trade, industry, and exports did not suffer irreparable damage due to the Gulf crisis. Although the ceasefire had now been declared, its economic repercussions could continue for several months, and the government would have to ensure that businesses and industries remained viable within the available fiscal space.
President Islamabad Chamber Sardar Tahir Mehmood, Vice President Rawalpindi Chamber Fahad Barlas, President Sialkot Chamber Syed Ahtesham Mazhar, President Faisalabad Chamber Farooq Sheikh, President Pakistan Cloth Merchants Association Ahmed Chinoy, Former President Site Association of Industry Saleem Parekh, President North Karachi Association of Trade and Industry Faisal Moiz, Patron-in-Chief Bin Qasim Association of Trade and Industry Mian Muhammad Ahmed, President Karachi Customs Agents Association Yahya Muhammad, Chairman All Pakistan Fruits and Vegetables Exporters, Importers and Merchants Association Aslam Pakhali, prominent businessman Saleem Kapadia, and other participants collectively emphasized temphasizedst-war scenario offered a valuable window of opportunity for the government to consult the business community on how to minimize theminimizeof higher oil prices and provide meaningful relief to exporters. They proposed that exporters should be incentivised with a reduced dollar rate for three months and that petroleum prices should be reduced because rising raw material costs had intensified inflationary pressures.
They further stressed that the business community should be given a much-needed sigh of relief through lower transport charges, the restoration of pre-war freight rates, serious discussions on the gas pipeline project, and a reduction in US tariffs. They pointed out that the war had also disrupted courier services and delayed the movement of shipping documents, causing serious hardships for importers and exporters and delaying consignment clearance. They therefore urged the government to approach the Ministry of Maritime Affairs for a waiver of demurrage and detention charges to reduce the financial burden on businesses.
