Revival of Sick Industrial Units Key Component of PM Economic Vision: Haroon

Islamabad: Prime Minister's Special Assistant Haroon Akhtar Khan has announced that the revival of sick industrial units is a crucial element of Prime Minister Shehbaz Sharif's economic vision. Chairing a high-level meeting of the Committee on the Revival of Sick Industrial Units in Islamabad, he identified high utility costs, elevated interest rates, and lack of access to financing for small industrialists as the primary challenges hindering industrial revival. According to Radio Pakistan, Haroon Akhtar Khan stated that a comprehensive revival plan would be presented under the guidance of Prime Minister Shehbaz Sharif. He emphasized that rehabilitating these units would significantly contribute to boosting exports and enhancing the national economy. During the meeting, the committee reviewed and discussed various proposals for the rehabilitation of sick and struggling industrial units nationwide. It recommended that the State Bank of Pakistan issue new guidelines to commercial banks to provide financial a ssistance and support to these struggling units. Additionally, the committee proposed incentives in taxation, the development of comprehensive business revival plans, and the implementation of a system for categorizing borrowers to ensure targeted support. Haroon Akhtar Khan instructed the committee to finalize the draft of the revival plan by the following day.