Report by Engineering Post
Pakistan’s Large -Scale Manufacturing (LSM) sector has faced several challenges and initiatives during the past few months.
This had occurred amidst domestic reforms and international uncertainties. Political stability and necessary macroeconomic policy -making by the federal government was obviously crucial for stabilization of this sector. However, potential supply chain disruptions from the escalating conflict in the Middle East posed a risk to the country on the external front. Moreover, support of the international financial institutions such as the international Monetary Fund for a medium -term reform agenda would hopefully improve the market and catalyze affordable external financing from other sources.
Additionally, the federal government has already established the Special Investment Facilitation Council which is actively working to improve the business processes through a cooperative and collaborative approach involving all stakeholders.
The SIFC goal was to tap into Pakistan’s potential in defense production, mining, information technology and energy sectors by attracting domestic and foreign investments. The SIFC as such aims to enhance the country’s business environment by providing a platform that supports foreign businesses and addresses obstacles that the international companies may encounter thereby facilitating their progress. These initiatives were expected to help in revitalizing manufacturing and mining sectors and contribute to accelerate their performance in the medium term.
