Industrial sector: PM Shehbaz stresses urgent removal of bottlenecks

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday reaffirmed his government’s commitment to revive the country’s industrial base, declaring that “industry lies at the heart of our export strategy” and that empowering domestic industries with globally competitive skills and cutting-edge technology remains a top national priority.

Chairing a high-level meeting on the formulation of a national industrial policy, the Prime Minister stressed that sustainable industrial development is essential for unlocking export-led economic growth.

He emphasised the urgency of removing structural bottlenecks that have historically held back the sector. “We are working on a priority basis to sustainably resolve the issues faced by the industrial sector,” he said, adding the country’s future economic resilience depends on a strong, modern, and export-oriented industrial ecosystem.

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The meeting was convened to review policy proposals aimed at strengthening industrial productivity, diversifying exports, and fostering innovation.

The prime minister directed officials to undertake wide-ranging consultations with all relevant stakeholders – including federal ministries, provincial governments, chambers of commerce, and industry leaders – to ensure the policy reflects on-the-ground realities and long-term ambitions.

The officials gave a detailed briefing on the draft framework, which includes plans to attract targeted investment, streamline regulatory processes, and improve access to skilled labour and advanced technologies.

The policy also aims to align the country’s industrial output with global market standards, making domestic manufacturing more competitive internationally.

The meeting was attended by Minister for Planning Ahsan Iqbal, Minister for National Food Security Rana Tanveer, Minister for Economic Affairs Ahad Cheema, Minister for Communications Aleem Khan, Minister for Commerce Jam Kamal Khan, Finance Minister Muhammad Aurangzeb, and Power Minister Awais Leghari.

The push for a revamped industrial strategy comes at a time when Pakistan is facing multiple economic challenges, including stagnant industrial output, declining exports, rising input costs, and continued uncertainty in global supply chains. Policymakers view industrial revitalisation as central to reversing these trends and creating a more resilient, diversified economy.

PM Sharif’s remarks echoed earlier government statements about moving away from import-dependence toward a more self-reliant and productivity-driven model of development. The national industrial policy, once finalised, is expected to be a cornerstone of that transformation.

Copyright Business Recorder, 2025