Industrialization is back on the policy agenda in Pakistan. The government is about to announce a new national industrial policy aimed at ‘reshaping and reviving’ Pakistan’s long-stagnant industrial sector. This comes amid a slew of other policies approved or in development aimed at boosting industrial and export growth, including a new National Tariff Policy, a National Electric Vehicles Policy, a Textiles and Apparel policy, and a new Energy Wheeling policy among others, as well as the launch of the second phase of CPEC (which includes industrial development as a key priority).
Jaded observers of Pakistani policymaking can be forgiven for shrugging their shoulders at these developments given the sordid history of past top-down reform attempts by successive governments that amounted to little beyond fanfare, boom-bust cycles and rapid backtracking on reform commitments at the slightest hint of sectional resistance. However, regardless of how one feels about the current government’s capabilities or legitimacy to design and implement industrial policy, it is hard to argue that this exercise is unnecessary. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
