Prime Minister Shehbaz Sharif has directed relevant authorities to finalize the long-awaited National Industrial Policy as soon as possible. The goal is to enhance industrial productivity and address ongoing challenges faced by the manufacturing sector.
While chairing a high-level meeting on industrial development, the Prime Minister emphasized the importance of involving all stakeholders before finalizing the policy. He noted that frequent policy changes in the past have stalled industrial progress and stressed the need for a stable and inclusive framework to drive long-term growth.
Calling the industrial sector the “backbone of Pakistan’s exports,” the Prime Minister stated that improving the country’s industries would directly contribute to achieving economic growth targets. He also highlighted the need to equip local industries with skilled workers and modern technology that meets international standards.
Furthermore, Shehbaz Sharif instructed officials to promote investment through tariff reforms. This comes at a time when inconsistent government policies — often influenced by politics or misinformation — have negatively impacted the country’s industrial development.
During the meeting, officials informed the Prime Minister that a cohesive industrial policy could help rebuild Pakistan’s manufacturing infrastructure. Federal Minister Ahsan Iqbal, Special Assistant Haroon Akhtar, and other senior officials also attended the session.
According to a recent report by Dawn, rising energy costs and inefficient electricity supply systems have significantly slowed down industrial growth. Business groups also raised concerns about higher energy prices compared to regional competitors and urged the government to take strict action against power theft and unpaid utility bills.
