Pakistan Plans Sweeping Industrial Policy to Cut Costs, Revive Sick Units
Pakistan is rolling out a five-year industrial policy to slash production costs, revive sick factories and boost exports, in a push to make its manufacturing sector more competitive.
The plan includes cheaper power, investor-friendly reforms and stricter contract enforcement, according to officials briefed on the matter.
Special Assistant to the Prime Minister on Industries Haroon Akhtar Khan chaired a high-level meeting Thursday with Finance Minister Muhammad Aurangzeb, Power Minister Awais Leghari, the FBR chairman and the State Bank governor. The talks focused on lowering power tariffs, expanding green energy and upgrading transmission networks to reduce costs for manufacturers.
The policy — drafted with input from public and private stakeholders — aims to ease long-standing bottlenecks by expanding credit access, reforming bankruptcy laws and curbing harassment by regulators, Khan said. A National Industrial Revival Commission will be set up to monitor implementation and address complaints.
Khan added that Special Economic Zones will adopt one-window services modeled on China to cut red tape, while investor protection will be reinforced through stricter contract enforcement.
Leghari said energy sector reforms under the plan will cut industrial costs, support the shift to renewable power and improve competitiveness. He described the policy as a “critical five-year framework” to stabilize industries, accelerate growth and create jobs.
