Islamabad – Federal Minister for Board of Investment (BOI), Qaiser Ahmed Sheikh, chaired a detailed consultative meeting on Tuesday with major stakeholders, including Chambers of Commerce, the All Pakistan Textile Mills Association (APTMA), and representatives from Faisalabad industries.
The discussion focused on recent industrial closures in Faisalabad, which have drawn the Prime Minister’s attention.
“The Prime Minister desires a comprehensive assessment and policy-oriented recommendations from the Ministry and stakeholders,” the Minister said.
Key Highlights of the Meeting
| Topic | Details |
| Industrial Closures | FCCI President Farooq Yousaf reported 193 units shut down, citing high taxation, electricity issues, and operational costs. |
| Taxation Concerns | Pakistan’s tax incidence (55–60%) is higher than regional competitors; stakeholders urged broadening the tax base rather than increasing burden on existing taxpayers. |
| Energy & Utilities | Persistent issues with electricity, gas tariffs, and high interest rates were highlighted as barriers to industrial growth. |
| Export Potential | Current exports stand at USD 3 billion, while potential could reach USD 15 billion, especially with opportunities like the SCO Summit. |
| Policy Recommendations | Suggestions included structured investment incentives, single-point sales tax, export targets for trade attachés, and SME-focused policies inspired by Bangladesh. |
| Government Initiatives | BOI shared ongoing reforms: Asaan Karobar Act, Business Facilitation Center (BFC) Single Window, SEZ incentives (10-year tax holidays, duty-free machinery imports, and 6,000 acres near Port Qasim for export-oriented projects). |
Stakeholder Concerns
• APTMA Chairman Kamran Arshad: High cost of doing business; urged structured incentives for industrial growth.
• Zia-ul-Arfeen (KCCI): Refund delays, energy costs, and long-term planning; cited Bangladesh’s SME policies.
• Kamran Saeed (LCCI): Discussed high policy rates, Sindh Cess, non-tariff barriers, freight costs, and export financing.
Minister’s Remarks
• BOI is actively working on regulatory reforms and deregulation.
• The Prime Minister is personally monitoring industrial revival efforts.
• Stakeholders were asked to submit proposals in writing for structured follow-up with the PMO.
• Government incentives under SEZ policy aim to promote industrialization and export-led growth.
“The Board of Investment remains committed to promoting investment and facilitating industries, aligning with the Prime Minister’s vision for economic revival and enhanced investor confidence,” said Minister Sheikh.