Special Assistant to the Prime Minister on Industries and Production, Mr. Haroon Akhtar Khan, reaffirmed the government’s commitment to comprehensive economic reform and industrial revival while addressing the Pakistan Prosperity Forum 2025, hosted by the Policy Research Institute of Market Economy (PRIME) in Islamabad.
The event, titled “Charting a New Path Toward Limited Government and Lower Taxes,” brought together leading policymakers, economists, and thought leaders to deliberate on the role of liberty, economic freedom, and private sector dynamism in shaping Pakistan’s economic future.
In his keynote remarks, Mr. Haroon Akhtar Khan emphasized that Pakistan stands today at a critical inflection point in its economic journey, where the government is determined to replace short-term fixes with long-term, systemic reforms. “Economic stability is not achieved by chance; it is built through consistency, credibility, and competence,” he stated, echoing the vision of Prime Minister Mian Muhammad Shehbaz Sharif.
Mr. Khan outlined the government’s reform agenda across three major areas — tariff rationalization, regulatory modernization, and industrial revival.
He announced that under the New National Tariff Policy, Pakistan is transitioning from protectionism to competitiveness. The government has simplified the tariff structure into just four slabs—0%, 5%, 10%, and 15%—and is phasing out all Additional and Regulatory Duties. “We are making tariffs an engine of export-led growth rather than a barrier to trade,” he noted, adding that this policy alone will generate Rs. 175 billion in annual cost savings for industries.
Highlighting industrial diversification, Mr. Khan said the policy encourages value addition and technology-intensive sectors, including artificial intelligence, electric vehicles, chemicals, and green technologies. “While some nations weaponize tariffs, Pakistan is rationalizing them, lowering costs, building resilience, and integrating into global value chains,” he remarked.
Mr. Khan also elaborated on the government’s second major initiative — the Regulatory Guillotine and Reform Initiative, being implemented through the Board of Investment. He stated that 465 regulatory simplifications have already been delivered under three reform packages, saving businesses more than Rs. 250 billion annually in compliance costs. “The Asaan Karobar Act 2025 will legally anchor these reforms,” he added.
Turning to the centerpiece of the government’s economic transformation, Mr. Khan unveiled the National Industrial Policy 2025, describing it as “a blueprint for national revival.” Formulated after extensive consultations with stakeholders from the State Bank of Pakistan, SECP, FBR, and major chambers of commerce, the policy aims to restore investor confidence, revive manufacturing capacity, and integrate Pakistan into regional and global value chains.
He announced the launch of the Revival and Debt Resolution Framework for Sick Industrial Units, developed in partnership with the SECP, State Bank, and Pakistan Banking Association. This framework will enable the restructuring of non-performing industrial assets and promote strategic partnerships through the newly established National Industrial Revival Commission (NIRC).
Reiterating the government’s resolve to ensure a business-friendly environment, Mr. Khan stated that harassment-free regulation, grievance redressal mechanisms, and investor facilitation are being strengthened to encourage compliance through cooperation, not fear.
The SAPM further highlighted energy and tax reforms, including preferential electricity tariffs for high-tech greenfield industries such as EVs, batteries, and data centers, as well as plans to phase out the super tax and move toward a balanced, growth-oriented tax regime.
“We are shifting the paradigm from protectionism to productivity, from ad-hoc incentives to performance-based rewards, and from import dependence to value addition,” Mr. Khan asserted. “In doing so, we are not just reviving factories — we are rebuilding the very spirit of enterprise that once made Pakistan a rising industrial power in South Asia.”
He emphasized that 21st-century competitiveness rests on innovation, regulatory efficiency, green technology, and digital integration, calling upon government, private sector, and academia to work together for a future defined by shared prosperity and sustainable growth.
“The path to prosperity is neither easy nor instant,” he concluded, “but as the saying goes, ‘The best time to plant a tree was twenty years ago; the second best time is now.’”
Pakistan Zindabad.
