LAHORE: Shahbaz Aslam, Chairman of the Ferozpur Road Industrial Association (FRIA), has urged the federal government to immediately launch a National Industrial Revival Plan to address ongoing challenges in Pakistan’s manufacturing sector and support long-term economic recovery. Speaking to media, Shahbaz Aslam highlighted that without decisive policy action and active private sector engagement, Pakistan’s industrial base risks stagnation, which could negatively impact employment, exports, and overall economic growth. Shahbaz Aslam noted that while certain industries, such as automobiles, textiles, and pharmaceuticals, have shown resilience, many heavy industries, machinery, chemicals, cement, and construction-linked sectors continue to struggle. Staff Reporter
He attributed these challenges to high production costs, energy shortages, financing constraints, and regulatory inefficiencies. “Our industrial sector is at a critical juncture. Targeted measures and sustained policy support are essential to reverse negative trends and ensure long-term industrial growth,” Shahbaz Aslam said.
The FRIA Chairman stressed that private sector engagement is central to the success of any industrial revival effort. He called on the government to provide practical incentives, especially for export-oriented industries, and to implement reforms that reduce the cost of doing business, improve access to affordable credit, and ensure a consistent and predictable policy environment.
Shahbaz Aslam emphasized that these steps are necessary not only to revive industrial output but also to boost investor confidence and support export-led growth.
Shahbaz Aslam highlighted the uneven performance across Pakistan’s manufacturing landscape, pointing out that while some consumer-driven sectors show moderate growth, capital goods and intermediate industries remain weak.
“The large-scale manufacturing sector has the potential to drive economic recovery, but systemic issues like energy shortages, high input costs, and policy inconsistencies are limiting its contribution,” he explained.
The FRIA Chairman also emphasized the importance of regulatory simplification, improved coordination between government agencies, and clear policy timelines to create a conducive environment for industry.
Shahbaz Aslam stressed that a well-coordinated revival plan with active participation of the private sector and full government ownership is crucial to restore confidence, stabilize industrial production, and foster sustainable growth.
Shahbaz Aslam called for immediate consultations between the government and industry stakeholders to identify bottlenecks, align regulatory frameworks, and design outcome-oriented strategies.
According to him, such collaboration is essential to ensure that the revival plan addresses real-world challenges and delivers tangible results, including increased industrial output, higher exports, and job creation.
