Islamabad: Federal Minister for Commerce Jam Kamal Khan convened a comprehensive meeting with the Pakistan Business Council and industrial representatives, including Taimur Dawood, CEO of Gatron Industries Limited and Novatex Limited, to address industrial competitiveness, tariff reforms, and the sustainability of exports within Pakistan’s manufacturing sector.

According to Press Information Department, the discussions centered on the broader implications of tariff reforms, anti-dumping duties, and the cost structures impacting local industries such as petrochemicals, plastics, polyester, and SMEs. Industry representatives cautioned that while tariff rationalization is crucial, indiscriminate duty reductions could harm domestic manufacturing, government revenue, and industrial investment. They emphasized the need to differentiate between genuine industrial exporters and those reliant on imports without substantial local value addition.

Minister Khan underscored the necessity for Pakistan’s industrial and export sectors to foster sustainable growth, highlighting that emerging industries require a stable policy environment to achieve global competitiveness. He pointed out the unique economic challenges Pakistan faces compared to regional competitors, including security, energy costs, and law-and-order issues, which complicate direct economic comparisons.

The meeting also highlighted concerns about the informal economy and the uneven enforcement of regulations, which create unfair competition for compliant industries. Minister Khan stressed the need for robust enforcement mechanisms to support registered industries contributing to the formal economy.

Additionally, challenges facing Pakistan’s petrochemical and downstream chemical industries were discussed, with stakeholders noting the strategic importance of these sectors for future industrial growth and export diversification. Industrial representatives outlined ongoing and planned investments in the sector, emphasizing the need for stable industrial policies and supportive tariff structures to attract further investment.

Minister Khan reaffirmed the Ministry of Commerce’s dedication to ongoing consultation with the business community to develop balanced and sustainable trade policies aimed at enhancing exports, supporting SMEs, and bolstering Pakistan’s economic resilience.