Federal, Punjab Govts align on industrial growth

June 19, 2026 (MLN): Pakistan’s industrial sector is set to receive renewed policy support as the federal and Punjab governments pledged closer cooperation to promote industrialization, expand exports, encourage local manufacturing, and strengthen small and medium enterprises (SMEs).

The commitment was reiterated during a meeting between Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan and Punjab Minister for Industries, Commerce and Investment Chaudhry Shafay Hussain.

The discussions focused on industrial development, export-oriented economic growth, promotion of electric vehicles, and enhancement of Pakistan’s manufacturing capabilities.

Haroon Akhtar Khan said that Pakistan’s first National Industrial Policy has been formulated under the leadership of Prime Minister Shehbaz Sharif to provide a comprehensive framework for industrial growth and economic development, according to APP.

He added that the federal government is working to revive the industrial sector by increasing production, boosting exports, and creating a business-friendly environment.

He said a draft Mobile Device and Electronics Manufacturing Policy has been prepared to encourage local production and reduce reliance on imports.

According to him, the Automobile, Auto Parts, and Battery Storage Policies are also being developed in line with the prime minister’s vision.

The SAPM emphasized that provinces have a vital role in advancing industrial development and supporting SMEs.

He noted that the promotion of electric vehicles would help the country move towards a modern, environmentally sustainable industrial economy.

Haroon further said that strengthening local industry would help reduce import dependency while creating employment opportunities for young people.

He added that increasing exports and industrial production remains among the government’s key priorities.

Chaudhry Shafay Hussain said that under the leadership of Chief Minister Maryam Nawaz Sharif, the Punjab government is taking effective measures to promote industrial development and facilitate SMEs.

He said industrial growth is essential for sustainable economic stability and employment generation, adding that the provincial government is taking practical steps to facilitate the business community and encourage investment.

The Punjab minister said strengthening SMEs would play an important role in improving the national economy and increasing exports.

He added that modern industrial development requires greater focus on environmental protection, quality standards, and improved production practices.

He further said that promoting local manufacturing would lead to the establishment of new industries and create thousands of jobs for young people.

Reforms in the industry, trade, and investment sectors are also being introduced to further improve the business environment in the province.

Both sides agreed that industrialization, export growth, and a stronger private sector are fundamental pillars of Pakistan’s economic development, while emphasizing that cooperation between the federal and Punjab governments would support further progress in the industrial sector.

Copyright Mettis Link News