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Business Recorder

‘Frequent policy changes hindering industrial growth'

KARACHI: Syed Mazhar Ali Nasir, former Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has emphasised that frequent policy changes, lack of long-term vision, inconsistent regulatory framework, and policies made without stakeholder feedback have hindered industrial growth and investment. Delivered a presentation to the 37th Senior Management Course at the National Institute of Public Administration (NIPA) on the industrial development of Pakistan , Mazhar Nasir highlighted the structure of Pakistan's industry, comprising large-scale industries and small and medium enterprises (SMEs), which contribute 40% to GDP and 30% to exports. He noted that SMEs face challenges such as limited access to finance, infrastructure deficiencies, and marketing support, and stressed that export growth cannot be achieved without the development of the SME sector. The presentation also covered emerging industrial sectors in Pakistan, including the automobile, iron and steel, edible oil, sugar, cement, ceramics, and rice industries. Nasir emphasised the need for long-term policies and strategies, incentives for investment and innovation, enhanced infrastructure and logistics, and research and development promotion to drive industrial growth. He also highlighted the importance of Special Economic Zones (SEZs) in the context of the China-Pakistan Economic Corridor (CPEC), noting that SEZs can promote industrial growth and attract foreign investment. Mazhar Nasir concluded that Pakistan's industrial sector must adapt to changing global trade dynamics by diversifying exports, enhancing competitiveness, promoting value-added products, and building strategic partnerships to achieve sustainable economic growth. 'By addressing these challenges and opportunities, Pakistan can accelerate industrial development and achieve sustainable economic growth.' Copyright Business Recorder, 2025