Khusro directs ministry officials to initiate consultation on industrial policy

The federal government has decided to initiate consultation with stakeholders for an inclusive industrial policy, media reported on Saturday.

As per media report, the consultants briefed the meeting on key thematic areas and fundamental metrics of upcoming Industrial Policy.

Federal Minister for Industries and Production Makhdum Khusro Bakhtyar chaired the preliminary meeting of Industrial Policy.

The minister said that new industrial policy would be focus on enhancement of local production, an increase in value-added exports, and import substitution to ease the chronic problem of trade deficit and spur industrialization to promote jobs in the country.

He laid stress to improve manufacturing base of defining industrial sectors including textile, steel, light-engineering, pharmaceuticals, food processing, petrochemicals, fertilizers, pink/rock salt and cement at the level of global competitiveness and productive diversity to harness global export market.