Pakistan, July 5 -- ISLAMABAD - The government has finalized a new industrial policy to revive Pakistan's struggling industrial sector. The Prime Minister's Committee on Industrial Policy approved key reforms in a recent meeting chaired by SAPM Haroon Akhtar Khan. The policy focuses on increasing exports, reducing imports, and helping small businesses grow. Officials said the industry's share in GDP fell from 26% in 1996 to just 18% in 2025.

To tackle this decline, the State Bank will issue new rules to help sick industries recover. The government plans to cut corporate tax from 29% to 26% over the next three years. Reforms to important laws like the SECP Act and Income Tax Ordinance are also underway. These steps aim to support investor...