PM’s aide highlights introduction of a new tariff policy aimed at reducing costs, noted a decline in interest rates with further cuts expected, and mentioned upcoming reductions in tax rates
ISLAMABAD: (UrduPoint/Pakistan Point News-June 11th, 2025) Haroon Akhtar, Special Assistant to the Prime Minister on Industries and Production, stated that the Pakistan Steel Mills would be scrapped due to slim chances of revival, and loss-making government entities must be shut down.
Haroon Akhtar said that Prime Minister Shehbaz Sharif gave relief to the public by reducing inflation and emphasized the need to close down state-owned enterprises that are incurring losses. He was talking to a local tv.
He highlighted the introduction of a new tariff policy aimed at reducing costs, noted a decline in interest rates with further cuts expected, and mentioned upcoming reductions in tax rates.
Akhtar added that the government is implementing an export-focused manufacturing policy to attract investment, with a vision to raise Pakistan’s industrial growth to 6–7 percent.
Regarding privatization, he confirmed that Steel Mills will be scrapped due to low chances of revival. He also pointed to irregularities at Utility Stores, saying unqualified individuals were appointed.
He noted that even countries like the US and Argentina have shut down loss-making entities, and governments cannot bear the burden of past mistakes indefinitely.
Referring to national resilience, he said, “Our people stood strong against India during the four-day war.”
Lastly, Akhtar emphasized the importance of fair compensation, saying performance suffers without appropriate pay. He pointed out that lawmakers’ salaries haven’t increased in nine years and that the Senate Chairman, who also acts as President, earns just Rs200,000, the same as the National Assembly Speaker.
