A crucial meeting of the Committee on the Revival of Sick Industrial Units was convened today under the explicit directives of Prime Minister Shehbaz Sharif.
Chaired by the Prime Minister’s Special Assistant, Haroon Akhtar Khan, the assembly focused on strategies to rejuvenate struggling industrial entities nationwide.
In the discussions, Khan emphasized that rejuvenating these ailing industrial sectors forms a vital part of the Prime Minister’s economic strategy. He pinpointed exorbitant utility charges, steep interest rates, and restricted access to funding for small-scale industrialists as the primary obstacles obstructing industrial resurgence.
The committee urged the State Bank of Pakistan to formulate new directives for commercial banks, advocating for financial aid and backing to ailing industrial units. Additionally, they proposed tax incentives, detailed business revival schemes, and a borrower categorization framework to facilitate targeted support.
“We aim to deliver a comprehensive revival strategy aligned with Prime Minister Shehbaz Sharif’s vision,” asserted Khan, highlighting that reviving these industries is essential for enhancing exports and fortifying the nation’s economy.
He instructed the committee to complete the draft of the revival strategy by the following day, marking a significant step towards industrial rejuvenation.