Islamabad: The Standing Committee on Industries and Production has urged significant reforms across multiple sectors, emphasizing the inclusion of the metal industry in export schemes and addressing regulatory gaps in pharmaceutical oversight.

The Committee, led by Syed Hafeezuddin, highlighted the need to integrate the rapidly growing metal sector, which boasts exports of $1.5 billion, into the Export Facilitation Scheme. A directive was issued to the Federal Board of Revenue (FBR) to finalize an order within two days to facilitate this inclusion.

Concerns were raised regarding pharmaceutical regulation in Islamabad, where six inspectors oversee 670 companies. The Committee stressed the urgency for additional inspectors, with the proposal currently under Cabinet scrutiny.

The session also touched on the financial dealings of the Utility Stores Corporation (USC) with the FBR. It was affirmed that USC should receive a Rs. 2.6 billion refund, while FBR’s Rs. 18 billion claim against USC should be referred for alternative dispute resolution.

Moreover, the Committee recommended the shutdown of the National Fertilizer Corporation (NFC), despite its profitability and extensive dealer network, due to a lack of regulatory oversight.

A special sub-committee was established to review the operations and organizational structures of the Small and Medium Enterprises Development Authority and the Pakistan Industrial Development Corporation, aiming for improved industrial performance.

The meeting saw participation from various MNAs and senior officials, including representatives from the Ministry of Industries and Production and the FBR.