Industrial Revival Policy in Pakistan Calls for Entrepreneurial Inclusion

Karachi: Mian Zahid Hussain, a prominent figure in Pakistan’s business community, has expressed support for the federal government’s new industrial revival policy, while stressing the importance of involving successful entrepreneurs in its development. As Chairman of the National Business Group Pakistan and the FPCCI Policy Advisory Board, Hussain emphasized the need for active participation from the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and leading industrialists.

Hussain highlighted that the policy should incorporate the expertise of those who have significantly contributed to domestic production and exports. Speaking to business leaders, he advocated for adequate representation of trade bodies under FPCCI leadership, ensuring that the concerns of small and medium enterprises (SMEs) are addressed, and their role in national development is strengthened.

He pointed out that around 100 companies, both domestic and international, account for approximately 40% of Pakistan’s total exports. Their inclusion in the policy-making process, facilitated by the FPCCI, is crucial for the policy’s credibility and effectiveness.

The government has described the draft policy as a major step toward industrial revival. It includes components such as rehabilitating sick industrial units, financial support for SMEs, and reforms in tax and bankruptcy laws. The policy also draws from successful international models.

Hussain argues that the policy’s success hinges on efficient and inclusive implementation. He noted that many committees overseeing the policy comprise members with direct experience in long-term industrial investment. The policy’s direction has received broad endorsement from experts.

The business community agrees that partnership and inclusivity are vital for the policy’s success. Pakistan’s manufacturing sector has faced decades of decline, plagued by falling productivity and weak export competitiveness. If the new policy fails to address exporters’ challenges and reduce business costs, it risks becoming another failed initiative, further eroding investor confidence.

Such a failure, Hussain warned, could deepen the divide between the government and the industrial sector, threatening both revival efforts and export goals.