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ISLAMABAD: The government while accepting the longstanding demand of the industrial and business community has finalised 10-year long-term industrial policy after months of detailed discussions.

The prime minister of Pakistan has tasked the Ministry of Industries and Production to discuss and review the current industrial policy, keeping in view that the share of industrial sector in GDP in 1996 was 26 percent which in 2025 has reduced to 18 percent.

The Ministry of Industries and Production, following the prime minister’s directives constituted eight different high-powered sub-committees to look into the matters of reshaping the industrial sector of the country, here on Friday presented the recommendations for the revival of industrial sector to the Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan during a high-level meeting.

Long-term industrial policy on the anvil

As per the policy recommendations of prime minister’s constituted committees, the policy will remain valid for 10 years and the government along with other stakeholders after every 18 months will review the progress.

The government will ensure improved credit to the small and medium enterprises (SMEs) and distressed segment.

Special amendments in various laws will be made to create business-friendly environment and ensure the investors security as well as promoting localisation. The sick industrial units will be restored and banks will be encouraged to provide them loans.

During the meeting, the committee members finalised the recommendations of eight specialised sub-committees. These proposals were reviewed in detail, marking the beginning of the implementation phase for the country’s new industrial policy.

Haroon Akhtar Khan highlighted that the contribution of the industrial sector to GDP has declined from 26 percent in 1996 to 18 percent in 2025, stressing the urgent need to revive the sector. He emphasised the importance of boosting exports and developing import substitutes to stabilise the economy.

To address the challenges facing the industrial sector, eight sub-committees were constituted. Among their key proposals: The State Bank of Pakistan will issue guidelines for the revival of sick industries and resolution of debts.

Amendments have been proposed to the Corporate Rehabilitation Act, 2018. Banks have been advised to use data forecasting tools to detect early signs of industrial sickness. Industrial unit classification has been determined in consultation with the Pakistan Banking Association.

To incentivise manufacturing, a reduction in corporate tax from 29 percent to 26 percent over three years has been recommended.

Amendments to the Securities and Exchange Commission of Pakistan (SECP) Act, the Anti-Money Laundering Act, and the Income Tax Ordinance have also been proposed.

To ensure swift execution, SAPM Haroon Akhtar Khan has formed 10 new implementation sub-committees and instructed them to show tangible results within a week.

He stated that the new industrial policy is comprehensive and has the potential to usher in an industrial revolution in Pakistan.

Commending the committees for their exceptional performance in a short span, Khan added that the finalised recommendations have been presented to Prime Minister Shehbaz Sharif, who appreciated the effort.

Copyright Business Recorder, 2025

ISLAMABAD:

Amid relentless rainfall in the upper regions and the water level in Tarbela Dam surging, prompting authorities to open the dam’s spillways to manage the inflow.

The operation was scheduled for 12pm on Friday, according to officials, who have issued an alert for citizens residing along the spillway routes to remain cautious.

The spillway release is likely to result in flood-like conditions in the Indus River, they added.

According to a spokesperson for the National Disaster Management Authority (NDMA), the opening of the spillways may cause the flow of water to increase significantly, ranging between 260,000 to 270,000 cusecs.

In light of the projected surge, the NDMA has strongly advised residents in adjacent regions to stay clear of riverbanks and water channels.

Meanwhile, five individuals who became trapped in the River Indus near Hund were safely rescued on Friday evening after a sudden rise in water levels caused by the opening of Tarbela Dam’s spillways.

According to officials, the incident occurred while the individuals were swimming in the river when the water level rapidly surged, leaving them stranded.

The rise in water was triggered by continuous rains in the upper regions, prompting authorities to release water from the dam earlier in the day.

Upon receiving the distress call, a Rescue 1122 team from Swabi swiftly reached the scene. Equipped with a rescue boat, life jackets and other safety gear, the team launched an immediate operation and successfully brought all five individuals to safety.

Local residents have been advised to adopt preventive measures and to avoid venturing near rivers or any high-risk water passages during this period of intensified flow.

Meanwhile, the Indus River System Authority (IRSA) on Friday released 275,954 cusecs of water from various rim stations with an inflow of 408,931 cusecs.

According to the data released by IRSA, the water level in the River Indus at Tarbela Dam was 1,520.00 feet, which was 118.00 feet higher than the dead level of 1402.00 feet. Water inflow and outflow in the dam was recorded as 272,900 cusecs and 151,500 cusecs, respectively.

The water level in the River Jhelum at Mangla Dam was 1,178.50 feet, which was 128.50 feet higher than its dead level of 1,050 feet. The inflow and outflow of water was recorded as 21,577 cusecs and 10,000 cusecs, respectively.

The release of water at Kalabagh, Taunsa, Guddu and Sukkur was recorded as 203,798, 178,886, 122,717 and 54,770 cusecs, respectively.

ISLAMABAD:

As a fresh political storm brews in Punjab, PTI on Friday announced that it will challenge the suspension of 26 of its MPAs from the Punjab Assembly through legal channels and public mobilisation.

The opposition party decried the speaker’s “unconstitutional and partisan” conduct, asserting it was left with no choice but to escalate both inside and outside the assembly.

At a joint press conference in Islamabad, PTI Secretary General Salman Akram Raja, Opposition Leader in the Punjab Assembly Malik Ahmad Khan Bhachar and senior lawyer Sardar Latif Khosa condemned the Punjab government’s actions.

The party leaders denounced the “theft of mandate” on February 8 as Bhachar accused the political elite of installing a “fake chief minister” while dragging PTI workers out of their homes. “A worthless government that couldn’t even use its past budget… If we have offended the dignity of a so-called ‘second queen’, then so be it, we’ll keep doing so.”

Bhachar vowed that if the party was thrown out of the assembly, it would simply set up a “real assembly” on the streets. “We don’t care about seats, but history will remember you.”

Speaking at the occasion, Sardar Latif Khosa slammed the government for repeatedly violating the constitution, particularly with the 26th amendment followed by the suspension of 26 MPAs. He lamented the erosion of human rights: “They want to bring fascism to K-P; this hurts democracy.”

“The Constitutional Bench’s verdict on reserved seats was shameful, the election commission’s even more so.” He defended the rights of jailed leaders and workers to meet Imran Khan, criticising inaction on reports of corruption at Adiala Jail.

Similarly, Salman Akram Raja slammed the administration for writing a “history of cruelty and oppression”. “No member can be forced out over protest,” he said, adding the party would turn to courts, but doubted the rule of law still existed.