Industry–govt partnership key to economic stability: P&D secretary

LAHORE, (UrduPoint / Pakistan Point News - 18th Feb, 2026) Punjab Planning & Development (P&D) board Secretary Rafaqat Ali said on Wednesday that the government is taking practical steps to improve economic situation, and close coordination with the private sector is necessary to promote industry and trade.

In a meeting with business community here at Lahore Chamber of Commerce and Industry (LCCI), he said, the government is working on several pilot programmes to support SMEs and export-oriented industries. Under the Asaan Karobar Scheme, he added, industries are being provided interest-free financial assistance for export-related value addition, and there is consideration to expand this programme.

LCCI President Faheem Ur Rehman Saigol, Vice President Khurram Lodhi and Executive Committee members were also present.

In his welcome address, Faheem Ur Rehman Saigol said that Pakistan’s economy is approximately 400 billion Dollars in size, and Punjab contributes more than 55 percent to the national GDP. Therefore, strengthening Punjab’s industrial base is essential for sustainable growth. He welcomed the provincial government’s decision to increase development budget for fiscal year 2025–26 from Rs 842 billion to Rs 1,240 billion, saying, it would boost economic activity.

He emphasized that development planning should be made business-friendly so that investment, production and exports can grow simultaneously. He noted that Punjab has strong potential in value-added manufacturing, engineering goods, processed food, pharmaceuticals, light engineering, and IT services. For this, internationally standard testing and certification laboratories are necessary.

The LCCI President also proposed the establishment of sector-specific industrial parks and special economic zones for the SME sector, where land should be provided on long-term leases at concessional rates.

He said SMEs contribute about 40 percent to GDP and 25 percent to exports, and focused attention on this sector could significantly increase employment and exports.

He suggested that considering the country’s large youth population, modern skill development centers should be set up under public-private partnerships to provide training according to global market needs. He added that promoting digitalization, technology parks, startup support, e-commerce, and artificial intelligence is also very important.

Saigol stressed that industries should be supported through green financing to adopt environmentally friendly technologies and energy-efficient equipment. He also called for expanding public-private partnerships in development projects and said the Lahore Chamber is ready to fully cooperate with the government in a constructive partnership.

P&D Board Secretary Rafaqat Ali said that the government is paying special attention to youth skill development and has made large investments in this area under the current development programme, particularly in nursing, health and e-commerce sectors. He mentioned, programmes have been introduced to strengthen links between industry and educational institutions, under which industries train workers themselves and later provide them employment.

Rafaqat Ali said, preparations for next year’s annual development plan are beginning, and industrialists should submit their proposals to the government so they can be included in policymaking. He emphasized that only through close cooperation between industry and government, the economy can be strengthened and new job opportunities created.