KARACHI 11 May 2026: Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum & All Karachi Industrial Alliance, Chairman National Business Group Pakistan, Chairman Policy Advisory Board FPCCI, and Former Provincial Minister Information Technology, warmly welcomed the elevation of Haroon Akhtar Khan to the post of Adviser to the Prime Minister on Industries and Production. He stated that the Prime Minister’s decision to transition Mr. Khan from a Special Assistant to a full-fledged Adviser reflects a strategic commitment to industrial stability and professional governance. Mr. Khan, a seasoned actuary and industrialist, brings a rare blend of technical expertise and political acumen that is vital for navigating the current economic landscape. Mian Zahid Hussain noted that the appointment comes at a time when the industrial sector is showing signs of a steady rebound, but remains vulnerable to structural inefficiencies and high operational costs.
Reflecting on Haroon Akhtar Khan’s past performance, Mian Zahid Hussain highlighted his distinguished tenure as the Federal Minister for Revenue from 2015 to 2018. During that period, Mr. Khan played a pivotal role in steering the Federal Board of Revenue toward historic achievements, including a peak tax-to-GDP ratio of 11.2 percent in the 2017-18 fiscal year. His leadership was instrumental in implementing six federal budgets that prioritized growth and broadened the tax base without stifling industrial activity. Mian Zahid Hussain emphasized that this track record of revenue mobilization and fiscal discipline is exactly what the Ministry of Industries needs to harmonize tax policies with manufacturing incentives, ensuring that local industries are not burdened by inconsistent regulatory frameworks.
Addressing the current state of the economy, Mian Zahid Hussain pointed out that the Large Scale Manufacturing Industries (LSMI) have recorded a promising growth of 6.48 percent during the July-March period of the current fiscal year. Significant contributions were noted in the automobile sector, which surged by over 61 percent, and the wearing apparel sector, which grew by approximately 6.6 percent. However, he warned that these gains are uneven, as certain segments like mining and cotton continue to face contractions due to high input costs and policy fragmentation. The Chairman noted that while the overall Quantum Index Number (QIM) for March 2026 reached 124.89, representing an 11.09 percent year-on-year increase, the month-on-month dip of 5.19 percent highlights the fragility of the recovery.
Mian Zahid Hussain urged the newly appointed Adviser to prioritize the resolution of the energy circular debt and the implementation of the National Industrial Policy. He stressed that the high cost of doing business remains the single largest hurdle for Pakistani exporters. With the Human Capital Index standing at a concerning 0.41 and industrial energy tariffs remaining uncompetitive compared to regional peers, the transition toward Industry 5.0 and advanced manufacturing like electric vehicle batteries—a key focus of Mr. Khan’s recent initiatives—must be accelerated. Mian Zahid Hussain concluded by expressing full confidence in Haroon Akhtar Khan’s ability to bridge the gap between the government and the private sector, fostering a business-friendly environment that can transform Pakistan into a regional manufacturing hub.
