LAHORE
The Ferozepur Road Industrial Association (FRIA) has urged the government to focus on domestic-driven policies that strengthen Pakistan’s industrial competitiveness, warning that reliance on external prescriptions alone could stifle innovation and growth.
FRIA Chairman Shahbaz Aslam, in a statement, emphasized that sustainable economic development requires policies that prioritize efficiency, affordable energy, and incentives for research and technological adoption in the industrial sector.
Shahbaz Aslam said that while global economic pressures and IMF recommendations influence fiscal and monetary decisions, Pakistan must develop localized strategies that address the real needs of industry and agriculture.
He noted that high borrowing costs, coupled with elevated energy tariffs, are increasing production expenses, which in turn reduce the country’s ability to compete in international markets.
“Industries cannot thrive under uncertainty or high operational costs,” he said.
“We need a policy framework that empowers manufacturers to innovate, invest, and expand without being overburdened by financial and energy constraints.”
The FRIA chairman highlighted that enhancing industrial efficiency and technological adoption can offset many of the pressures caused by rising energy prices and interest rates. He suggested that targeted support for modern machinery, automation, and renewable energy adoption could significantly reduce production costs and improve product quality, enabling local businesses to compete more effectively in global markets.
Shahbaz Aslam also stressed the importance of developing reliable domestic financing mechanisms. He said that predictable access to credit, combined with incentives for modernization and energy efficiency, would allow small and medium enterprises to grow and contribute meaningfully to exports and employment. “Encouraging self-reliance in industry will not only reduce dependency on imported solutions but also create a resilient economy capable of weathering global shocks,” he added.
Shahbaz Aslam called on policymakers to prioritize policies that promote innovation, affordable energy, and local solutions to strengthen industrial competitiveness. He said that a long-term vision focused on domestic capacity-building, coupled with smart fiscal and energy reforms, is critical to ensuring sustainable growth, job creation, and export expansion in Pakistan.
He said to prioritize policies that promote innovation, affordable energy, and local solutions to strengthen industrial competitiveness. He said that a long-term vision focused on domestic capacity-building, coupled with smart fiscal and energy reforms, is critical to ensuring sustainable growth, job creation, and export expansion in Pakistan.
