Govt establishes Industry Advisory Council to develop industrial policy

ISLAMABAD: The federal government of Pakistan has introduced the Industry Advisory Council (IAC), a consortium of 13 leading industrial entities within the nation. This initiative aims to spearhead the development of a robust industrial policy vital for economic growth.

Caretaker Federal Minister for Commerce & Industries, Dr Gohar Ejaz, expressed his enthusiasm in leading this initiative. In a statement shared on the social media platform X, he announced, "Excited to announce the formation of the Industry Advisory Council, comprising 13 top groups in Pakistan."

The list of members includes prominent names such as Lucky Cement, Fauji Foundation, Hilton Pharma, and Dawood Group, among others. Dr Ejaz emphasized the collective effort, stating, "Together, we will be formulating a robust industrial policy that will drive economic growth and development."

The Industries and Production Division of the government will extend secretariat support to the council. The council is scheduled to convene weekly, with a commitment to deliver its final report within ten weeks, as outlined in the statement. Dr Ejaz, serving as the Minister for Industries and Production, will hold the positions of IAC's convener and chairman. Additionally, he has the authority to co-opt individuals from the public or private sector, if deemed necessary.

Private sector representation in the council comprises distinguished individuals such as Fawad Ahmed Mukhtar, Muhammad Ali Tabba, Waqar Ahmed Malik, Abdul Samad Dawood, Raza Mansha, Shahzad Asghar Ali, Samir Chinoy, Amir Fayyaz Sheikh, Shahbaz Yaseen Malik, Ahsan Bashir, Syed Hyder Ali, and Farooq Naseem. These individuals represent some of the biggest conglomerates of Pakistan. Meanwhile, the public sector will be represented by key officials including Additional Secretary (In-charge), I&P Division; Secretary, Finance Division; Secretary, Commerce Division; Chairman, Federal Board of Revenue; and Chief Secretaries of the provincial governments, including GB & AJK.

The Joint Secretary (IF), I&P Division, will act as the Secretary of the Committee. A diverse representation from both sectors aims to ensure a comprehensive and inclusive approach in formulating the national industrial policy.

As the nation eagerly awaits the outcomes of this collaboration, Dr Ejaz urged the council to "chart a path towards a prosperous future."