By Eman Alam
ISLAMABAD: Special Assistant to the Prime Minister Haroon Akhtar Khan said on Monday that restoring confidence among foreign investors was a top government priority, with a commitment to upgrading Pakistan’s investment framework to meet international standards.Drones
The special assistant was chairing a meeting, where the introduction of a bankruptcy law in Pakistan was discussed, with a focus on aligning the investment environment with the Prime Minister’s vision for a more conducive business and industrial atmosphere.
On the occasion, a sub-committee has been formed to propose amendments to the Corporate Rehabilitation Act 2018 with the objective of making the legislation more effective and inclusive of all necessary provisions. The sub-committee includes senior advocates Ali Sibtain Fazli and Abid Shaban, SECP Commissioner Muzaffar Mirza, and consultant Usman Khan. The final draft of the amendments is scheduled to be presented on 13th June 2025, the statement added. Haroon Akhtar highlighted that these legal reforms would play a pivotal role in industrial growth and that the committee’s recommendations will help reduce legal complexities affecting businesses.
Meanwhile, Haroon Akhtar also chaired a meeting focused on the revival of sick industrial units, held under the framework of State Bank of Pakistan Circular 29 of 2002.
He reiterated that reviving sick industrial units was a foremost priority for the government. He announced that new guidelines will be developed to facilitate both banks and industries in this regard.
The meeting reviewed new financial rehabilitation mechanisms for these units, emphasizing their critical role in improving the national economy. The guidelines aim to address and resolve financial challenges faced by both financial institutions and industrialists.Drones
The government is committed to creating a favorable investment and industrial development environment, with discussions covering the list of sick units, their financial status, and revival measures, the statement added.
