Key reforms implemented in industrial sector to drive sustainable, export-led Growth

ISLAMABAD: The Ministry of Industries and Production (MoIP) has successfully implemented key reforms over the past year to promote sustainable, export-driven growth under the dynamic leadership of Prime Minister Shehbaz Sharif.

According to media reports, the ministry introduced a series of groundbreaking reforms aimed at boosting the Small and Medium Enterprises (SME) and engineering sectors, expanding industrial infrastructure, and ensuring the availability of affordable goods for low-income groups.

Significant progress has been made in enhancing the competitiveness of SMEs by improving access to support services, financing, and market linkages, fostering sustainable economic growth.

The Engineering Development Board (EDB) has successfully implemented policy reforms to strengthen the engineering sector, enhancing domestic market localization and increasing export capabilities. Additionally, EDB has facilitated the sector’s integration into global markets, reinforcing its role as a key economic contributor.

The Pakistan Industrial Development Corporation (PIDC) has played a crucial role in developing industrial infrastructure, including the establishment and operationalization of several new Special Economic Zones (SEZs), attracting investments and driving industrial growth.

The ministry’s efforts have led to increased export-oriented industrial activities, aligning with the government’s vision of export-led growth, particularly in environmentally sustainable industries.

Additionally, policies have been implemented to ensure essential commodities remain accessible at affordable prices, directly benefiting lower-income groups and supporting real income levels.

Looking ahead, the ministry aims to foster a globally competitive SME sector, driving long-term economic growth through a supportive regulatory framework and targeted services.

Key agencies like EDB and PIDC continue to play a vital role in this strategy, with EDB focusing on providing techno-economic support and boosting localization and export competitiveness. Meanwhile, PIDC remains committed to developing industrial infrastructure, particularly through SEZs, to support diverse industries and create a favorable business environment.