K-P urged to prioritise industrialisation

PBF says province losing value-addition benefits due to weak industrial base

PESHAWAR:

Pakistan Business Forum (PBF) Khyber-Pakhtunkhwa (K-P) Chairman Ashfaq Paracha has urged the provincial government to make industrial development a central pillar of the upcoming Budget 2026-27, saying sustainable growth, employment, exports and revenue depend on a strong industrial base.

He noted that K-P presented a budget of over Rs2.1 trillion for FY2025-26, including an annual development programme of Rs547 billion focused on social services. However, industrial development did not receive the attention needed to transform the economy.

"Industrialisation is the backbone of every successful economy. Unfortunately, K-P continues to export raw materials while value-addition takes place in other provinces. This deprives our people of employment and prosperity," Paracha said.

He observed that the sector suffers from inadequate infrastructure, high energy costs, inconsistent gas supply and limited access to finance. Despite possessing world-class marble and mineral deposits, the province exports most resources in raw or semi-processed form.

Paracha proposed a dedicated Industrial Development Fund for infrastructure, modernisation of industrial estates and accelerated development of special economic zones.