Prime Minister Shehbaz Sharif on Friday indicated progress toward an overhaul of Pakistan’s industrial policy after the private sector submitted proposals aimed at expanding industrial development.
Chairing the first meeting of the Working Group on Industrialisation, he welcomed the recommendations and directed officials to incorporate them into the national policy framework after a review of implementation requirements, according to an official statement.
The meeting was attended by Planning Minister Ahsan Iqbal, Commerce Minister Jam Kamal Khan, Minister for Privatisation Ahad Khan Cheema, Minister of State for Finance Ali Pervaiz Malik, Adviser to the Prime Minister Muhammad Ali, Minister of State Bilal Azhar Kayani, Special Assistant Haroon Akhtar, and members of the industrial working group led by Saqib Shirazi.
Participants were briefed on policy proposals for industrial development and measures to raise investment. The proposals also included regional comparisons to improve competitiveness of Pakistan’s industry.
The prime minister said economic development, employment generation and income growth were linked to industrial expansion. He said easing business processes and attracting investment remained government priorities.
He directed that a plan of action be prepared after examining the proposals and that recommendations covering other economic sectors also be reviewed for inclusion in the wider policy framework.
He also acknowledged the role of the business community in backing government policies during recent economic pressures and said further work was needed to support growth.
