Islamabad, In a significant move, Prime Minister Muhammad Shehbaz Sharif has officially elevated the Warehouse and Logistics sector to the status of an industry. This decision came during discussions with a delegation comprising members from the Chambers of Commerce and Industry and various business associations, who met with the Prime Minister on Thursday.
According to Ministry of Information and Broadcasting, the Prime Minister has directed the relevant authorities to ensure that all necessary legal frameworks are established to support this transition. This step has been well-received by the business community, which has long awaited the recognition of the Warehouse and Logistics sector as an industry, a topic that had been pending in various forums.
In addition to this major policy shift, Shehbaz Sharif discussed other government initiatives aimed at improving economic conditions. He underscored the move to digitize the Federal Board of Revenue and shared plans to invite Chinese industrial players to set up units in Pakistan during his forthcoming visit to China. The Prime Minister is keen on fostering new projects in alternative energy sources, especially solar energy, to help reduce electricity costs.
Further, the Prime Minister outlined the government’s strategy on the privatization of state-owned enterprises, excluding those deemed strategic, to reduce the financial burden on the national treasury. He also mentioned ongoing third-party assessments to evaluate the performance of trade and investment officers abroad.
By committing to address the legitimate demands and concerns expressed by the business delegates, Shehbaz Sharif has reinforced his administration’s dedication to strengthening the economy and broadening the tax base. The business delegation, in turn, pledged its full support for the government’s economic enhancement efforts.