Federal, Punjab govts agree on industrial sector growth
ISLAMABAD: The federal government and the provincial government of Punjab have decided to collaborate on industrial development, export-oriented economic growth, industrialisation, promotion of electric vehicles, and strengthening the manufacturing sector in Pakistan.
The decision was taken here during a meeting between Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan, and Punjab Minister for Industries, Commerce and Investment, Chaudhry Shafay Hussain, held here on Thursday. The meeting emphasised that the role of provinces is crucial in promoting industrial development and strengthening Small and Medium Enterprises (SMEs).
Haroon Akhtar, while sharing the achievements of the industry ministry, highlighted that the ministry has prepared Pakistan’s first National Industrial Policy to provide a comprehensive framework for industrial growth and economic development.
He stated that the federal government is working tirelessly for the revival and rapid growth of the industrial sector, with a focus on enhancing production, increasing exports, and creating a business-friendly environment.
The SAPM further said that a draft Mobile Device and Electronics Manufacturing Policy has been prepared to promote local manufacturing and reduce dependence on imports, adding that the Automobile, Auto Parts, and Battery Storage Policies are being developed.
He said that the promotion of electric vehicles will help Pakistan move towards a modern, environment-friendly, and sustainable industrial economy. “Strengthening local industry will reduce import dependency and create new employment opportunities for the youth,” Haroon Akhtar Khan said, adding that increasing exports and boosting industrial production remain among the government’s top priorities.
Chaudhry Shafay Hussain said that the government of Punjab is taking effective measures for industrial development and promotion of SMEs. He stated that industrial growth is essential for sustainable economic stability and ensuring employment opportunities for the youth. He added that the Punjab government is taking practical steps to facilitate the business community and promote investment. Hussain emphasised that strengthening SMEs will play a key role in improving the national economy and increasing exports.
He highlighted that modern industrial development requires focus on environmental protection, quality standards, and improved production practices. He further stated that promotion of local manufacturing will lead to the establishment of new industries and generate thousands of employment opportunities for young people.
The Punjab Minister said that reforms in industry, trade, and investment sectors are being introduced to further improve the business-friendly environment in the province. Both sides agreed that industrialisation, export growth, and strengthening of the private sector are fundamental pillars of Pakistan’s economic development.
SAPM Haroon Akhtar Khan expressed that cooperation between the federal and Punjab governments will pave the way for new progress in the industrial sector.
Copyright Business Recorder, 2026