Govt moves to revive sick industries

Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan on Wednesday chaired a meeting to review and discuss proposals for the rehabilitation of sick and struggling industrial units across the country.

During the meeting, the SAPM stressed that the revival of sick industrial units is a key component of the prime minister's economic vision. He identified high utility costs, elevated interest rates, and limited access to financing for small industrialists as the primary challenges hindering industrial recovery. The meeting was convened on the direction of Prime Minister Shehbaz Sharif.

The committee recommended that the State Bank of Pakistan (SBP) issue new guidelines to commercial banks to extend financial assistance and support to these struggling units.

Additionally, the committee proposed tax incentives, comprehensive business revival strategies, and a borrower categorisation system to ensure targeted and effective support.