ISLAMABAD: The Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan, announced that a National Industrial Revival Commission would be established to oversee implementation of revival of sick industrial units and provide a redressal mechanism for complaints.
Haroon Akhtar Khan said this during a high-level meeting with Finance Minister Muhammad Aurangzeb, Federal Minister for Power Division Sardar Awais Ahmad Khan Leghari, chairman Federal Bureau of Revenue (FBR) and the governor of the State Bank of Pakistan (SBP).
Khan highlighted that the policy includes the revival of sick industrial units, improved access to credit, measures to counter undue harassment by government authorities, and reforms in bankruptcy laws.
10-year industrial policy finalised
The participants discussed the contours of the National Industrial Policy, which intends to bring a number of reforms including Fiscal Policy Reforms, tariff reforms and strengthening of the National Tax Commission (NTC), a pragmatic approach to trade agreements, foreign direct investments, corporatization and consolidation, a trained and productive workforce and the small and medium enterprises.
The policy is designed with specific focus industries to promote jobs, value-added exports and import substitution, especially textile sector, leather, furniture, iron, steel and other industries.
During the meeting, detailed deliberations were held on reducing the cost of power, promoting green energy, upgrading the transmission and distribution network, and ensuring sustainable growth of the industrial sector.
Akhtar Khan stated that, under the vision of Prime Minister Shehbaz Sharif, the National Industrial Policy will serve as a catalyst for industrial growth and enhanced exports. He emphasised that the policy has been prepared in consultation with both public and private stakeholders and provides a comprehensive package addressing key industrial challenges.
To facilitate investors and strengthen confidence, the SAPM underscored that contract enforcement would be ensured. He also noted that, inspired by the Chinese model, one-window services will be introduced in Special Economic Zones (SEZs) to streamline industrial operations.
The Federal Minister for Power Division, Sardar Awais Ahmad Khan Leghari, in his remarks, underlined that reforms in the power sector will significantly reduce costs and provide much-needed relief to industries. He added that improved energy infrastructure and greater reliance on green energy will not only lower production costs but also ensure environmental protection.
Leghari further stated that the National Industrial Policy provides a critical five-year framework that will stabilise industries on sustainable foundations, spur industrial growth, and create new employment opportunities.
Copyright Business Recorder, 2025
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