Ahmed Khan Malik

The Sindh government has finalized the industrial policy and will place it before the cabinet for approval.

The industrial policy has been finalized with input from renowned economist Dr. Qaisar Bangali and other stakeholders. This policy will support the provincial government's efforts to boost industrialization in the region, a spokesperson for the Sindh Industries Department told WealthPK. Industries Minister Jam Ikramullah Dharejo worked extensively on the policy by engaging with various stakeholders. The policy was essential given the evolving industrial and business landscape, he added. The provincial economy is expected to improve, creating more job opportunities and bringing stability to the national economy once the policy is implemented. The spokesperson further explained that the policy aims to improve the state of industries, with special focus on establishing new industrial zones.

It also includes provisions to identify vacant industrial plots, those illegally converted into commercial use, and those stalled due to documentation issues. The policy offers sufficient incentives to encourage businessmen to establish new industries. "Special incentives will be provided for setting up small industries in the province, allowing small investors to benefit from the policy," he said. He also noted that the computerization of all industrial plot records is underway in collaboration with the Punjab Information Technology Board. The spokesperson emphasized that the government is making every effort to steer the economy in a positive direction. "Economic development is the key to improving people’s lives, and this aligns with the vision of the caretaker government," he added.

Saeed Naqi, Secretary of the Sindh Industrial Forum, praised the provincial government’s decision to formulate the policy, stating that its swift approval would enable the industrial sector to function more effectively. He noted that the industrial sector had long faced challenges, particularly from provincial and local bodies. Regulatory requirements at the provincial and city levels had complicated both the establishment of new industries and the operations of existing ones, Naqi said. However, he expressed confidence that the new industrial policy would address these issues. "Industrialization is crucial for economic growth, and Sindh has taken the lead by drafting this policy. While Karachi is already industrialized, other parts of the province have been neglected for decades. This policy will promote industrial growth in those underdeveloped areas," he said.

Credit: INP-WealthPk