Dr Gohar Ejaz, Chairman of the Economic Policy Think Tank and former Federal Minister for Commerce, has called for a bold shift towards industrialisation and export-led growth in Pakistan, outlining key recommendations in a series of budget-focused tweets.
Dr Ejaz said the economic stability hinges on a clear industrialisation roadmap and urged the government to adopt a consistent five-year industrial and export policy to ensure long-term growth.
“Industrialisation should be our top priority,” he stated, highlighting the urgency of creating a sustainable framework to boost exports and investment.
He stressed the need for globally competitive energy rates, specifically 9 cents per unit for industry, alongside an interest rate cap of 6% to make local manufacturing viable.
“Without affordable capital and energy, we can’t expect our industries to compete globally,” he warned.
For Special Industrial Zones (SIZs), Dr Ejaz proposed fully developed infrastructure, positioning them as growth hubs. He also called for rationalisation in taxation policy, recommending that the maximum tax rate for salaried individuals be limited to 20% and that super tax should only apply to corporations earning over Rs 10 billion in profits.
On the real estate front, he criticised the withholding tax on property buyers who are tax filers, arguing that it discourages homeownership and should be eliminated.
Turning to agriculture, Dr Ejaz underlined the need to modernise the sector, enhance productivity, and ensure food security as part of a comprehensive national economic agenda.
“The time for piecemeal solutions is over. We need a clear, long-term policy framework rooted in industrial growth, export competitiveness, and tax fairness,” Dr Ejaz said.