Islamabad, April 8, 2025 – A high-level meeting was convened at the Ministry of Industries, chaired by Haroon Akhtar Khan, Special Assistant to the Prime Minister on Industries to review budget proposals for the upcoming fiscal year with a focus on revitalizing Pakistan’s industrial sector.
A major proposal under consideration is the imposition of a 20% Regulatory Duty on LED lighting products, aimed at encouraging domestic production and reducing dependency on imports.
Kore agenda was to Promotion of local manufacturing and to review of import/export mechanisms for raw materials and restructuring of Customs Duties (CD), Regulatory Duties (RD), and Additional Customs Duties (ACD).
Policy Directions and Recommendations:
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Tax Reforms: Mr. Haroon Akhtar Khan called for comprehensive revisions in the proposals and recommended the introduction of a super tax to align Pakistan’s corporate tax structure with regional benchmarks.
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Business-Friendly Climate: Emphasis was placed on ensuring an investment-friendly environment to stimulate industrial growth and foreign investment.
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SME Support: The Special Assistant reiterated the vital role of SMEs in the economy and urged for targeted measures to support their development and sustainability.
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Barrier Removal: All concerned departments were directed to identify and eliminate bottlenecks hampering industrial progress to foster sustainable economic growth.
The meeting concluded with a reaffirmed commitment to advancing industrial policy reforms in alignment with the Prime Minister’s vision for economic resilience and modernization.
Revised proposals are expected to be finalized ahead of the federal budget announcement.
Key Participants:
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Mr. Saif Anjum, Secretary of the Ministry
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Representatives from the Engineering Development Board (EDB)
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Representatives from the Small and Medium Enterprises Development Authority (SMEDA)
