Prime Minister Shehbaz Sharif said the government is taking urgent steps to reduce industrial production costs. He stressed that cheaper production will support local industry, trade, and consumers. He added that the National Tariff Policy is central to boosting competitiveness at home and abroad.
The prime minister noted that the tariff policy aims to support domestic production and align trade flows with economic goals. He said sector-specific issues must be identified to increase industrial output and expand national trade. He emphasized that export reforms must rely on reliable data to ensure effective policy action.
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He also highlighted that the Export Development Fund had long remained underused for training and research. However, he said the government would now focus on improving industrial capacity through better resource use. Moreover, he directed strict monitoring of customs duty collection on bilateral and transit trade at border points.
The working group said sustainable export-led growth requires higher investment and stronger production capacity. It also stressed that government support and improved infrastructure are essential for long-term economic expansion. During the meeting, business leaders including Muhammad Ali Tabba shared concerns on customs and tax procedures.
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Prime Minister Shehbaz welcomed their recommendations and ordered ministries to support investors and industry. He said all institutions must help the business community with timely facilitation. The meeting was attended by senior ministers, officials, business representatives, and members of the Special Investment Facilitation Council.