PESHAWAR: Pakistan Business Forum (PBF) Khyber-Pakhtunkhwa (K-P) Chairman Ashfaq Paracha has urged the provincial government to make industrial development a central pillar of the upcoming Budget 2026-27, asserting that sustainable growth, employment, exports, and revenue depend on a strong industrial base.
Current Budgetary Focus
He noted that K-P presented a budget of over Rs2.1 trillion for FY2025-26, including an annual development programme of Rs547 billion focused on social services. However, industrial development did not receive the attention needed to transform the economy.
Call for Industrialisation
"Industrialisation is the backbone of every successful economy. Unfortunately, K-P continues to export raw materials while value-addition takes place in other provinces. This deprives our people of employment and prosperity," Paracha said.
Challenges Facing the Sector
He observed that the sector suffers from inadequate infrastructure, high energy costs, inconsistent gas supply, and limited access to finance. Despite possessing world-class marble and mineral deposits, the province exports most resources in raw or semi-processed form.
Proposed Solutions
Paracha proposed a dedicated Industrial Development Fund for infrastructure, modernisation of industrial estates, and accelerated development of special economic zones. These measures, he argued, would boost local value addition, create jobs, and enhance provincial revenue.
