PM keen to solve problems facing power looms sector: SAPM Haroon
FAISALABAD: Prime Minister of Pakistan is serious to resolve the problems confronted by the power looms sector and a comprehensive short and medium-term policy would be evolved in consultation with the stakeholders which would be presented positively to Mian Muhammad Shehbaz Sharif on Monday, said Haroon Akhtar Khan, Adviser to the Prime Minister on Industries & Production.
Addressing the business community in Faisalabad Chamber of Commerce & Industry (FCCI), he said that the focus of the Prime Minister is on sustainable economic revival and upon his directive he was trying his optimum best to settle down the core issues. He said that energy storage policy is at an anvil as more than 150 Chinese firms are expected to start manufacturing solar panels and batteries in Pakistan. “It would be a positive alternative to the high cost of energy”, he said.
About access to finance by the SME sector, he said that the Prime Minister is specifically concentrating on the availability of finance to the SMEs, agriculture and housing. He quoted particularly the SME sector and said that they are unable to provide collateral and the Prime Minister is taking some practical initiatives to remove this hurdle.
About environment, labour and tax related issues he said that regulatory bodies are constituted to facilitate the businesses & industries. “A cabinet committee on regulatory regime has made a major breakthrough by proposing 170 amendments in the company act”, he said and added that maritime regulations were 150 years ago. He said that currently our export of fisheries is USD600 million which could be enhanced 6 times only through regulatory measures. He disclosed that a new law was under consideration to streamline the inspections by different institutions. He further said that there was no clear demarcation between civil and criminal offenses which would be made transparent.
He termed today’s meeting as a tip of the iceberg and he will dig out the problems of the power looms sector including how its profitability and competency was eroded by the recent developments. He gave a patient hearing to the stakeholders and requested them to submit their proposal in writing so that tangible actions could be proposed.
Earlier President FCCI Arif Ehsan Malik thanked the Prime Minister for directing his Advisor to directly interact with the stakeholders of power looms sector and submit a comprehensive report. He said that a media report has triggered hype as 40pc units have been closed rendering 1 lac workers unemployed. “I personally assess its impact in a wider scenario covering almost all aspects of this issue”, he said and enumerated high energy cost, and cost of doing business, low flow of payments and tax related matters as major causes of deindustrialization.
About exports, he said that delay in shipping is causing embarrassment as their containers remain stuck up in different ports. He said that recycling is embedded in the DNA of Faisalabad and we must encourage this sector to remain competitive for the EU during next decades. He said that we could earn at least USD1bn from this sector by declaring it first circular city of Pakistan as it only needs patronage.
Rana Ihsaan Afzal Khan, Coordinator to Prime Minister on Commerce thanked the business community for giving a positive policy input and said that the business community could drag Pakistan out from the economic crisis. He said that Faisalabad is a very important industrial city as its exports ranged from USD4 to 5bn. He said that the government was making serious efforts to resolve its economic issues.
A question answer session was also held which was participated by Javed Sharif, Chairman Power Looms Association, Waheed Khaliq Raamay, Muhammad Shakeel Ansari, Chaudhary Muhammad Nawaz, Syed Zia Alamdar Hussain, Kashif Zia, Naveed Gulzar, Shahzad Ahmed, Khurram Mukhtar, Faisal Naeem Paracha, Malik Haleem Akhtar, Muzammil Saeed, Sanaullah Khan Naizai, Muhammad Aslam Bhalli and others.
Senior Vice President Mian Muhammad Saeed offered vote of thanks while Arif Ehsan Malik presented FCCI memento to Haroon Akhtar Khan.
Later the Advisor to PM on Industries and Production recorded his impressions in FCCI visitor’s book. He also responded to the questions of media persons.
Copyright Business Recorder, 2026