Aurangzeb signals pro-business industrial policy
Finance Minister Mohammad Aurangzeb on Monday said the government is finalising an industrial policy aimed at fostering a business-friendly environment and accelerating industrialisation, as Pakistan moves towards macroeconomic stability and sustainable growth. Speaking at a consultative workshop titled ‘Unlocking Capital Market Potential for Banks’, organised by the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Banks Association (PBA), the minister said the policy, spearheaded by Special Assistant to the Prime Minister Haroon Akhtar Khan, would soon be presented to the federal cabinet. Aurangzeb also underlined the government’s commitment to tariff reform, calling it a home-grown agenda designed to enhance export competitiveness. The policy includes gradually reducing customs duties, additional customs duties, and regulatory duties over the next four to five years to reduce long-standing protectionist barriers in domestic industries.