Commerce Minister Pledges Sustainable Trade Policies Through Consultation With Business Community
Islamabad: Federal Minister for Commerce Jam Kamal Khan has said that the government will formulate sustainable trade policies in consultation with the business community and industrial stakeholders.
The remarks came during a meeting between the commerce minister and industrial representatives, including Taimur Dawood, where discussions focused on tariff reforms and industrial sustainability alongside members of the Pakistan Business Council.
Participants at the meeting held detailed consultations on challenges facing the petrochemical, plastics, polyester, and SME sectors in Pakistan.
Industrial representatives argued that sudden reductions in import duties could negatively affect local industries, investment, and government revenue. They also stressed the need to differentiate between genuine export-oriented industries and import-based trading businesses.
Jam Kamal Khan stated that Pakistan’s industrial and export policies must support long-term industrial growth and sustainable manufacturing. He noted that emerging industries require time, infrastructure, and policy continuity to become globally competitive.
The minister added that Pakistan’s economic conditions, energy costs, and security challenges differ significantly from those of other regional countries.
During the session, concerns were also raised regarding the undocumented economy and uneven enforcement mechanisms, which participants said were creating difficulties for registered industries.
The commerce minister emphasized the need for an effective system to protect documented and registered industries. Petrochemicals, PVC, plastics, and value-added sectors were described as critical components of Pakistan’s industrial development strategy.
Industrial representatives further stated that a stable industrial policy and supportive tariff structure are essential for attracting new investment.
Jam Kamal Khan pointed out that industrial growth in countries such as South Korea, China, Japan, and the United States was achieved gradually through government support and consistent policies.
He reaffirmed that the Ministry of Commerce would continue consultations with business leaders and industrialists to develop balanced and sustainable trade policies.