Prime Minister Declares Warehouse and Logistics as an Industry Sector

Islamabad: Prime Minister Muhammad Shehbaz Sharif announced on Thursday that warehouse and logistics sectors would be granted industry status, directing relevant authorities to complete all necessary legal formalities.

The announcement was made during a meeting with representatives from chambers of commerce and industry associations nationwide.

The business community thanked the prime minister for addressing their long-standing demand, which had been pending at various forums.

Prime Minister Sharif stated that the economy was recovering and the government was working towards greater economic stability. He highlighted ongoing efforts to digitize the economy, including the Federal Board of Revenue (FBR).

He emphasized that foreign investment would increase with more local investment in Pakistan. During his upcoming visit to China, he plans to invite Chinese industries to set up operations in Pakistan. The government is committed to creating a business-friendly environment.

He noted that inflation had decreased due to prudent government policies and expressed the government's dedication to promoting alternative energy projects, particularly solar energy, to reduce electricity costs.

He mentioned that work had begun on outsourcing three major airports and that, except for a few strategic state-owned enterprises (SOEs), most were being privatized to prevent significant financial losses.

The prime minister expressed satisfaction with the IT industry's growth rate and stated that third-party evaluations were being conducted to assess the performance of trade and investment officers abroad.

He assured the delegation that their legitimate demands and issues would be addressed and directed federal ministers to engage in detailed discussions with all industrial sectors.

The business community pledged their full support to the government's efforts to improve the economy and expand the tax base.

The meeting included Commerce Minister Jam Kamal Khan, Finance Minister Muhammad Aurangzeb, Minister for Industries and Production Rana Tanveer Hussain, Minister of State Ali Pervaiz Malik, Coordinator to the PM Rana Ehsaan Afzal, the Chairman of the FBR, and other high officials.