ISLAMABAD: The new industrial policy is likely to be announced in the next two to three weeks, as discussions with all the stakeholders have been finalised and all their suggestions have been incorporated in the draft policy.
Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, is going to unveil the new industrial policy this month. He said on Tuesday that final touches are being given to the draft.
It may be mentioned here that Prime Shehbaz Sharif already constituted a committee on the National Industrial Policy. According to the Terms of Reference, the committee will frame the National Industrial Policy keeping in view the Memorandum of Economic and Financial Policies (MEFP) the government has agreed with the IMF. The committee was also required to build consensus.
The convener of this committee is the Minister for Finance and Revenue, whereas the secretary of the Finance Division, the secretary of the Industries, and the secretary of Commerce are working as members of the body. The committee was empowered to co-opt any other member to broaden the base of discussions.
On September 8, the Minister of Finance and Revenue has co-opted the chairman of the Federal Board of Revenue, the secretary of the Power Division, and the deputy governor (Banking &FMRM), State Bank of Pakistan, as members of the committee on the proposed National Industrial Policy.
Additionally, the following three working groups have been constituted, which will finalise their inputs within a week and present the same to the Committee on September 15, 2025. Working group-1 consists of the secretary of the Industries and Production Division, the secretary of the Power Division, and AFS (CF), Finance Division. The second working group features the secretary of the Industries and Production Division, Chairman FBR and AFS (Budget), Finance Division. Working group 3 consists of the secretary of the Industries and Production Division, Deputy Governor (Banking &FMRM) SBP and AFS (IF/Inv), Finance Division.
The National Industrial Policy document suggested measures like a reduction in the power tariff, promotion of green energy, upgradation of the transmission and distribution network, and ensuring sustainable growth of the industrial sector.
According to SAPM, the National Industrial Policy will catalyse industrial growth and enhance exports. He emphasized that the policy has been prepared in consultation with both public and private stakeholders and provides a comprehensive package that addresses key industrial challenges.
The policy includes the revival of sick industrial units, improved access to credit, measures to counter undue harassment by government authorities, and reforms in bankruptcy laws. He further announced that a National Industrial Revival Commission would be established to oversee implementation and provide a redressal mechanism for complaints.
To facilitate investors and strengthen confidence, SAPM underscored that contract enforcement would be ensured. He also noted that, inspired by the Chinese model, one-window services will be introduced in Special Economic Zones (SEZs) to streamline industrial operations.
Copyright Business Recorder, 2025
