Federal Minister for Board of Investment (BOI), Mr. Qaiser Ahmed Sheikh, chaired a detailed consultative meeting with key stakeholders, including representatives of major Chambers of Commerce and Industry and the All Pakistan Textile Mills Association (APTMA), to deliberate upon issues highlighted in recent news reports regarding the closure of industries in Faisalabad, on which the Prime Minister has taken notice.
Welcoming the participants, the Federal Minister apprised the forum that the Prime Minister has desired a comprehensive assessment and policy-oriented recommendations from the Ministry and stakeholders. He recalled that during his recent visit to FIEDMC, the President of Faisalabad Chamber of Commerce & Industry (FCCI) had briefed him on serious concerns relating to industrial closures, which subsequently appeared in the media.
Senior officials of the Board of Investment, including Additional Secretary Dr. Erfa Iqbal, Additional Secretary Mr. Zulfiqar Ali, and Director General Mr. Mahmood Tufail, were also present. All participants were given adequate time to share their views and challenges faced by the industrial sector.
Mr. Farooq Yousaf, President FCCI, informed the meeting that approximately 193 industrial units have shut down in recent times, and detailed data would be shared with the BOI. He highlighted that Pakistan’s tax incidence ranging between 55–60% is significantly higher than regional competitors, alongside persistent electricity-related issues. He reiterated that all chambers stand united and emphasized the need for consensus-based solutions, adding that FCCI would formally share its recommendations via email. He also referred to figures indicating USD 15 million in exports and USD 34 million in imports.
APTMA Chairman Mr. Kamran Arshad termed the cost of doing business as the foremost challenge, pointing to higher electricity tariffs, elevated interest rates, expensive gas, and tax-related issues compared to the region. He emphasized that resolving these challenges would lead to enhanced industrialization and job creation. He stressed that instead of expanding the tax base, the burden continues to fall on existing taxpayers. He suggested that BOI could work alongside ongoing efforts on industrial and commerce policies, introduce investment incentives through structured brackets, and assign clear export targets to trade attachés in Pakistani missions abroad.
Briefing the participants, the Federal Minister highlighted that BOI is actively engaged in regulatory reforms and deregulation, including initiatives such as the Asaan Karobar Act and the BOI-led Business Facilitation Center (BFC) Single Window, aimed at easing business operations and investor facilitation.
Mr. Zia-ul-Arfeen from KCCI raised the long-pending refund issues, echoed concerns regarding high energy and tax rates, and emphasized the need for long-term planning. He referred to Bangladesh’s SME-focused policies and appreciated the Prime Minister’s initiative. He noted that despite Pakistan’s potential to export USD 15 billion, especially in view of opportunities such as the SCO Summit, current exports remain around USD 3 billion. He also recommended a single-point sales tax system.
The Federal Minister and Additional Secretary Dr. Erfa Iqbal requested all chambers and associations to submit their issues and proposals in writing to enable structured follow-up with the Prime Minister’s Office.
The Federal Minister further briefed participants on the government’s broader efforts under the leadership of Prime Minister Muhammad Shehbaz Sharif, including incentives under the Special Economic Zones (SEZ) policy, such as 10-year tax holidays, duty-free import of machinery, and the availability of 6,000 acres of land near Port Qasim, to be allocated in 500–1,000 acre clusters free of cost, subject to industrial development and at least 50% export orientation.
Stakeholders again referred to Bangladesh’s collaborative policymaking model and suggested drawing insights from Dr. Muhammad Yunus’s approach, while urging the FBR to focus on broadening the tax base rather than increasing the burden on compliant taxpayers.
Mr. Kamran Saeed of LCCI informed the meeting about a recent interaction with the Secretary Industries, Commerce and Food, where issues such as high policy rates, final tax regime, Sindh Cess, non-tariff barriers, freight costs, and long-term export financing were discussed and flagged for government attention.
Concluding the meeting, the Federal Minister reiterated that the government is committed to transitioning towards export-led growth. He emphasized that the Prime Minister Shehbaz Sharif is personally overseeing these matters and assured stakeholders that BOI will continue to play a proactive facilitation role in close coordination with all relevant ministries and the private sector.
Federal Minister Qaiser Ahmed Sheikh reaffirmed that the Board of Investment remains fully committed to promoting investment and facilitating industries, in line with the Prime Minister’s vision for economic revival, industrial growth, and enhanced investor confidence.
