The federal government has outlined new measures to boost Pakistan’s industrial sector, aiming to reduce costs, support green energy, and streamline regulation under a forthcoming National Industrial Policy. The policy, discussed at a high-level meeting led by Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan, promises to address structural challenges facing local industries and encourage economic growth and exports.
The meeting brought together key officials, including the Finance Minister, the Federal Minister for Power Division, the Chairman of the Federal Board of Revenue, and the Governor of the State Bank of Pakistan. Discussions covered strategies to lower power costs for industries, promote the adoption of green energy, upgrade electricity transmission and distribution, and provide a sustainable framework for industrial development.
Haroon Akhtar Khan emphasized that the National Industrial Policy has been developed through broad consultations with both public and private sector stakeholders. The policy aims to serve as a catalyst for industrial expansion and increased exports, offering a comprehensive package that addresses longstanding industry challenges. Among its key initiatives are the revival of non-operational industrial units, enhanced access to financing, reforms to prevent undue harassment from government authorities, and updates to bankruptcy legislation.
Mr. Khan also announced the formation of a National Industrial Revival Commission, which will oversee policy implementation and offer mechanisms for industries to address grievances. The policy will also prioritize contract enforcement to build investor confidence. Additionally, building on lessons from the Chinese experience, the plan includes the introduction of one-window services in Special Economic Zones to simplify business operations for investors.
Supporting the policy direction, Power Division Minister Sardar Awais Ahmad Khan Leghari noted that planned reforms in the energy sector are expected to cut costs and provide significant relief to industries. He stated that improvements to the nation’s energy infrastructure and greater reliance on renewable energy sources would not only lower production expenses but also help protect the environment.
Minister Leghari further explained that the National Industrial Policy will offer a critical five-year roadmap for the sector, stabilizing industries, stimulating growth, and creating new job opportunities across the country.
