Latest news with #HaroonAkhtarKhan
Business Recorder
an hour ago
- Business
- Business Recorder
Serious talks with Russia on steel mills issue
ISLAMABAD: Pakistan is in serious talks with Russia to set up a new steel mills or restore the Pakistan Steel Mills (PSM) in Karachi to fulfill local demand. This was stated by the Special Assistant to the Prime Minister (SAPM) on Industry and Production Haroon Akhtar Khan in a chat with Business Recorder, saying that both the countries, in the past few months, have held two fruitful meetings on the subject and are moving ahead on the matter. The SAPM, responding to a question, said that 'technical experts are analysing the state of the present machinery of PSM and if 50 percent machinery is useable, the government is surely going to restore the PSM with Russian cooperation'. He said that the PSM owned 18,660 acres of land, out of which, 710 acres is under consideration for the setting up a new steel plant. Pakistan, Russia agree to establish new steel mills in Karachi According to officials, although Pakistan is rich in iron ore, with estimated reserves of 1.887 billion tons, it still imports about $2.7 billion worth of steel every year. Officials said that domestic steel production is not enough to meet all demand, with a supply gap of 3.1 million tons last year. The proposed steel plant site is strategically located near Port Qasim, which will help reduce transportation costs of raw materials, thereby, providing a competitive advantage. The SAPM further said that to safeguard the interests of the business community the government is to introduce some amendments in the Securities and Exchange Commission of Pakistan (SECP). He added that the homework on amendments to the SECP law has been completed, a new clause will be added, amendment to the law regarding the investigation of the financial monitoring unit are also under consideration, in the name of suspicious transactions, the matter is being confused by sending it to investigative agencies without investigation. He said that the investigating agencies including National Accountability Bureau (NAB), Federal Investigation Agency (FIA) and other anti-corruption departments will have to seek permission from SECP before launching any investigation against any business entity or individual. Khan said that if there is suspicion of terror financing and money laundering, then after investigation, it should be sent to the relevant agency. Talking about the remittances and other payment transfers through banking channels, the SAPM said such payments are already reaching the country through reliable and proper channels, so there should not be any need to investigate the sources. However, illegal channels such as Hawala and Hundi must not be allowed. He said that to promote and encourage the investment in the country the government is considering to waive off additional fines and surcharges on investment in industrial sector, but it will take a little time. He said that his ministry has finalised the industrial package to run closed industrial units in the country and increase business activities. He said that for the first time in the country, the government has decided to introduce bankruptcy law. The purpose of the law is to enable the owners of closed industrial units to obtain loans from banks. Khan said that instead of auctioning bankrupt industrial units, the law will allow banks to give loans to such units, so, that they can restore themselves. Copyright Business Recorder, 2025
Business Recorder
3 days ago
- Business
- Business Recorder
SAPM announces formation of APCTMA, EDB committee
ISLAMABAD: Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan, held a high-level meeting with the All Pakistan Ceramic Tiles Manufacturers Association Friday. The meeting was attended by representatives from 10 Pakistani manufacturers and four Chinese manufacturers. Key issues discussed included the tariff policy, customs duties, exports and imports, and the need for tariff protection for the local ceramic tiles industry. Speaking at the occasion, Haroon Akhtar Khan appreciated the role played by the tiles industry in Pakistan's industrial development. 'I am fully aware of the challenges faced by tile manufacturers and I will personally advocate for your cause,' he stated. SAPM directed the tile manufacturers to submit a detailed report outlining the specific reasons why higher protection is necessary for the industry. He further instructed that the report must quantify cost disadvantages as a percentage of total production costs. In a major development, Haroon Akhtar Khan announced the formation of a joint committee comprising members of the Tiles Manufacturers Association and the Engineering Development Board (EDB). The committee has been tasked to present a progress report by Thursday. 'The government under Prime Minister Shehbaz Sharif is committed to supporting and revitalizing the industrial sector,' SAPM emphasized. 'We are strongly defending the case for industries, including tiles, in the National Tariff Policy Board.' Haroon Akhtar reiterated his vision to see Pakistani manufacturers become regionally competitive and assured that Chinese manufacturers, as partners and friends, will continue to receive full support. 'No industry will be allowed to shut down,' he affirmed. 'Revival of industries is our vision, and we are formulating long-term policies to ensure sustainable growth.' He concluded by assuring full government support to the tile manufacturing sector and reaffirmed the government's commitment to the broader development of the local industrial base. Copyright Business Recorder, 2025
Business Recorder
3 days ago
- Business
- Business Recorder
Industrial raw materials: Proposals for duty cuts to be submitted to PM
ISLAMABAD: Prime Minister's Special Assistant on Industries and Production, Haroon Akhtar Khan will submit proposals for reducing duties on industrial raw materials for the FY 2025–26 budget to Prime Minister Shehbaz Sharif on Monday. The Prime Minister had earlier constituted a Committee on Industry, headed by Haroon Akhtar, to formulate proposals regarding duties and taxes across various sectors. The committee convened on May 24, 2025, to deliberate on different recommendations for tariff and duty reductions. These proposals will be formally submitted to the Prime Minister on June 2, 2025, revealed Faiz Ahmad Chadhar, Chief Executive of the Trade Development Authority of Pakistan (TDAP), during a session of the National Assembly Standing Committee on Commerce. The meeting of the Standing Committee, chaired by Jawed Hanif Khan, addressed several issues related to the Ministry of Commerce. Secretary Commerce, Jawad Paul, led the ministry's delegation. National Tariff Policy: govt approves phased elimination of import duties Dispelling concerns about external influence, Secretary Commerce stated there was no pressure from the International Monetary Fund (IMF) for tariff rationalization. 'Things have progressed significantly since March 2025, and tariffs are being rationalized under the FY 2025–26 budget.' The Commerce Ministry has also been instructed to present a detailed briefing on the National Tariff Policy, and the measures taken to achieve the Prime Minister's $60 billion export target. The Committee discussed reasons for the ban on export and import of gold and gemstones which has irritated those in the business. It was apprised that on May 7, 2025 a ban was imposed abruptly on export of gold including consignments in transit. 'Stakeholders informed the committee that the sudden ban had caused severe disruptions, particularly to consignments already in transit, 'said one of the gold businessmen from Karachi. Secretary Commerce Jawad Paul stated that a committee has been constituted to review the abrupt 60-day ban on the export and import of gold and gemstones. He explained that the ban was implemented on the recommendation of the State Bank of Pakistan (SBP). The committee chaired by the Secretary has already held several meetings to examine the issue thoroughly. It is expected to recommend that the government allow the entry of consignments that were already in transit when the notification was issued. He further suggested that the matter be discussed in more depth at the next meeting, with representatives from the SBP and the Federal Board of Revenue (FBR) in attendance. On the issue of fumigation of export-bound consignments, MNA Sharmila Farqui informed the committee that rice exporters are being harassed by the Directorate General of the Department of Plant Protection (DPP). She alleged that the department was using pest-control methods involving banned Indian-origin pests, and that officials were opening rice consignments, apparently under the orders of the Director General. A representative from the Rice Exporters Association of Pakistan (REAP) acknowledged that conditions had somewhat improved for rice exporters but noted that several issues still frequently hamper exports. In response, DPP Director General Tahir Abbas informed the committee that the government had recently cancelled the licence of a company holding 60% market share for using Indian pests in rice fumigation. He defended the department's strict enforcement of phytosanitary measures, citing a significant reduction in shipment interceptions. Chairman of the Standing Committee, Jawed Hanif Khan, instructed the DG to maintain strict oversight of departmental operations to ensure that exporters are not mistreated by staff. Additionally, the Juice Manufacturers Association requested duty drawbacks on incremental exports in the upcoming budget, claiming such measures could help double export volumes in the coming years. According to official statement, the meeting reviewed the progress of key legislative measures and addressed pressing trade-related matters to enhance Pakistan's commercial landscape. It discussed the previous issue of disruptions in the export of rice. Emphasising the importance of resolving this matter, the committee urged the Department of Plant Protection to enhance its administrative oversight, particularly concerning container inspections and related procedures. The Committee was assured that efforts were actively underway to address these challenges, with a commitment to minimising, if not eliminating, future disruptions in rice exports. The committee also discussed the Suspension of SRO 760. The chair emphasised that the suspension of the SRO was a decision of the Federal Cabinet, and only the Cabinet could reinstate it. However, interim relief for pipeline issues remained a priority, and the Ministry had already made necessary requests for such relief. On discussions regarding granting special relief/ rebate by the government to food exporting companies it was noted that this incremental tax rebate would assist generating additional revenue for the country. The committee decided to forward the matter to the Federal Board of Revenue for further deliberation. The committee reviewed 'The Export Development Fund (Amendment) Bill, 2025', (moved by Muhammad Mobeen Arif, MNA), and 'The Trade Development Authority of Pakistan (Amendment) Bill, 2025', (moved by Usama Ahmed Mela, MNA) in depth and decided to constitute a Sub-Committee for detailed deliberation on the bills after the expiration of the previous Sub-Committee therefore, pending the bills till then. The committee decided to hold a detailed briefing on the Pakistan National Tariff Policy in the next meeting. It was stressed that tax liberalisation should not be extended to finished goods and luxury items, ensuring that the focus remained on sectors that aligned with national economic priorities. The proposal for liberalising raw materials and machinery imports to support industrial growth and to enhance productivity was also discussed in the meeting. The meeting was attended by MNAs, Muhammad Mobeen Arif, Usama Ahmed Mela, Shaista Pervaiz, Dr Mirza Ikhtiar Baig, Muhammad Atif, Tahira Aurangzeb, Khurshid Ahmed Junejo, Kiran Haider, Mir Amir Ali Khan Magsi in person whereas, Asad Alam Niazi, Rana Atif, Muhammad Ali Sarfaraz, Farhan Chishti, MNAs and Sharmila Sahiba Hishaam Faruqui, MNA/ Special Invitee attended the meeting virtually. Senior officers from the Ministry of Commerce, the Ministry of Law and Justice and the Ministry of National Food Security and Research were also present in the meeting. Copyright Business Recorder, 2025
Express Tribune
3 days ago
- Business
- Express Tribune
Govt eyes mobile policy, exports
Listen to article Special Assistant to the Prime Minister, Haroon Akhtar Khan, conducted a Zoom meeting with Amir Allahwala, CEO of Transsion Techno, and representatives of the Engineering Development Board to discuss the Mobile Phone Device Policy. According to a statement released on Friday, the meeting focused on key issues including the mobile phone device policy, challenges related to tariff duties, mobile phone exports, as well as the market for used cars and used mobile phones. The discussion also covered technological innovation. As per the statement, Khan highlighted that 38 mobile phone companies in Pakistan have created 40,000 jobs, underscoring the significant potential of the mobile phone industry to export products globally. He emphasised that under the directives of the prime minister, the government's priority is to promote the industrial sector. Incentivising the industry and increasing exports remain top priorities.
Business Recorder
6 days ago
- Business
- Business Recorder
Pakistan's ceramics industry: Ministry forms joint committee to address key challenges
ISLAMABAD: The Ministry of Industries and Production has announced the formation of a joint committee to address key challenges being faced by the ceramics industry. The development came here on Tuesday during a meeting between the Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan, with All Pakistan Ceramic Tiles Manufacturers Association (APCTMA). The committee comprising members of the Tiles Manufacturers Association and the Engineering Development Board will present a progress report by Thursday. Key issues discussed included the tariff policy, customs duties, exports and imports, and the need for tariff protection for the local ceramic tiles industry. Speaking on the occasion, Haroon Akhtar Khan said the government is committed to support and revitalise the industrial sector. After detailed discussions with the APCTMA delegation, Haroon announced the formation of a joint committee comprising members of the Tiles Manufacturers Association and the Engineering Development Board. The committee has been tasked to present a progress report by Thursday. The delegation gave a detailed briefing on the ceramic tile industry, noting that Pakistan's current daily production capacity is approximately 560,000 square metres. This output is backed by an investment of over Rs100 billion, with around 60 percent of it coming from foreign sources, particularly China. They highlighted that the industry has made significant progress in reducing dependence on imports. Previously at 74 percent, import reliance has now fallen to just four percent, with nearly all raw materials and workforce now sourced locally. The delegation expressed its ambition to bring this down further to just one percent, calling the ceramic industry a shining example of local industrial capability. The SAPM directed the tile manufacturers to submit a detailed report outlining the specific reasons why higher protection is necessary for the industry. He further instructed that the report must quantify cost disadvantages as a percentage of total production costs. 'The government under Prime Minister Shehbaz Sharif is committed to supporting and revitalising the industrial sector,' the SAPM emphasised. 'We are strongly defending the case for industries, including tiles, in the National Tariff Policy Board.' Haroon reiterated his vision to see Pakistani manufacturers become regionally competitive and assured that Chinese manufacturers, as partners and friends, will continue to receive full support. 'No industry will be allowed to shut down,' he affirmed. 'Revival of industries is our vision, and we are formulating long-term policies to ensure sustainable growth.' He concluded by assuring full government support to the tile manufacturing sector and reaffirmed the government's commitment to the broader development of the local industrial base. Copyright Business Recorder, 2025
