Ministry of Industries and Production (MoIP) has successfully implemented key reforms to drive sustainable and export-led growth under the dynamic leadership of Prime Minister Shehbaz Sharif during the past one year.
Over the past year, it introduced a series of groundbreaking reforms aimed at achieving growth in Small and Medium Enterprises (SME) and engineering sectors, expanding industrial infrastructure and ensuring availability of affordable goods for low-income groups, according to an official report available with APP.
The ministry has made significant progress in enhancing the competitiveness of Small and Medium Enterprises (SMEs), with increased access to support services, funding, and market linkages, contributing to sustainable growth within the national economy.
The Engineering Development board (EDB) successfully implemented policy reforms to strengthen the engineering sector, boosting both domestic market localization and export capabilities. EDB also facilitated greater integration of the sector into global markets, enhancing its role as a key economic driver.
The Pakistan Industrial Development Corporation (PIDC) played a pivotal role in advancing the development of industrial infrastructure, including the successful establishment and operationalization of several new Special Economic Zones (SEZs), attracting investments and fostering industrial growth. The ministry focused efforts led to an increase in export-oriented industrial activities, aligning with the government’s mandate to promote export-led growth, especially within environmentally efficient industries.
The ministry implemented policies that ensured essential items remained accessible at affordable prices, directly benefiting lower-income groups and contributing to the protection of real income in the country.
Sharing future strategic vision, the official report said the ministry aims to foster a globally competitive SME sector, driving sustainable national economic growth through a supportive environment and targeted services.
It said key agencies like EDB and PIDC played vital roles in this vision while EDB facilitates the growth of the engineering sector by providing techno-economic support and fostering localization and export competitiveness.
The report said PIDC focuses on creating industrial infrastructure, particularly through the development of Special Economic Zones (SEZs), to support industrial growth and create a favorable environment for diverse industries.
Together, these efforts aim to drive export-led growth, ensure affordable access to essential goods, and strengthen Pakistan’s industrial base for long-term economic development.