ISLAMABAD, June 2 (APP) – Special Assistant to the Prime Minister, Haroon Akhtar Khan, emphasized on Monday that bolstering investor confidence is a top priority for the government, alongside its broader agenda of aligning Pakistan’s investment climate with international best practices.
He made these remarks while presiding over a high-level meeting centered on the introduction of a comprehensive bankruptcy law, which would support the Prime Minister’s vision of fostering a more business- and industry-friendly environment.
During the session, a sub-committee was constituted to recommend updates to the Corporate Rehabilitation Act 2018. The goal is to make the legislation more robust and comprehensive by including all necessary provisions to improve its effectiveness.
The sub-committee comprises prominent legal and regulatory experts, including senior advocates Ali Sibtain Fazli and Abid Shaban, SECP Commissioner Muzaffar Mirza, and consultant Usman Khan. According to the official statement, the final draft of the proposed amendments will be presented on June 13, 2025.
Haroon Akhtar noted that such legal reforms are vital for stimulating industrial expansion and added that the committee’s proposals are expected to ease legal burdens currently faced by businesses.
Separately, Haroon Akhtar also chaired another meeting focused on reviving Pakistan’s non-operational industrial units. This meeting was conducted within the framework of State Bank of Pakistan’s Circular 29 of 2002.
He reaffirmed the government’s commitment to the rehabilitation of sick industrial units, terming it a critical component of Pakistan’s economic strategy. He announced that new guidelines will soon be introduced to assist both financial institutions and industrial stakeholders in this effort.
The discussion reviewed emerging financial rehabilitation models designed to support struggling units, underlining their significance in boosting the national economy. The forthcoming guidelines will address pressing challenges faced by both lenders and businesses, and aim to simplify the path to recovery.
The government remains committed to nurturing a supportive investment and industrial landscape. Discussions in the meeting also touched on the status of listed sick units, their financial outlook, and potential steps for revival.
