PM vows again to revive Pakistan’s ailing industrial sector

ISLAMABAD: Amid mounting concerns over the country’s ailing economy, Prime Minister Shehbaz Sharif on Friday renewed his pledge to revive the faltering industrial sector, declaring that industrial development is key to unlocking long-term prosperity.

Addressing the inaugural review meeting of the Private Sector Committee on National Industrial Development, the prime minister underscored that industrialisation is not merely a priority, but the very foundation upon which the country’s economic future must be built.

Flanked by senior ministers, including Ahsan Iqbal, Jam Kamal Khan, and Ahad Khan Cheema, along with prominent industrialists, he outlined his vision for a resilient and thriving industrial sector, central to the country’s long-term economic blueprint.

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“Sustainable economic growth, rising incomes, and job creation are inextricably linked to industrial development,” he declared, framing it as the non-negotiable foundation of the nation’s economic future.

He stressed that the government would prioritise simplifying regulations, slashing bureaucratic red tape, and, most critically, attracting foreign investment to reignite industrial growth.

“Our private sector has been pivotal in steering the country through economic crises and its expertise and contributions are essential to shaping the future of the nation’s industrial strategy,” he maintained.

The meeting featured the presentation of a range of proposals designed to revitalise industrial development, with a strong emphasis on modernising outdated infrastructure, streamlining industrial processes, and enhancing the country’s competitiveness in comparison to regional counterparts.

In response, Sharif instructed that these proposals be integrated into the broader national policy framework and undergo a thorough review to ensure timely and effective implementation.

“With the grace of Allah, the nation’s economic direction is improving,” he said, but he was quick to add, “We must continue to work tirelessly for progress.”

The industrialists present at the meeting echoed Sharif’s sentiments, underscoring the need for consistency and clarity in government policies if the country’s industrial base is to flourish.

As the prime minister wrapped up his remarks, he urged both the public and private sectors to work together to realise the country’s industrial potential.

Copyright Business Recorder, 2025