Pakistani Government Nears New National Industrial Policy to Revive Sector

Industrial policy and economic competitiveness are resurging as key priorities worldwide, with various countries and regions implementing or planning strategic initiatives. In the U.S., the Trump administration has advanced a robust industrial policy focused on reshoring critical industries such as semiconductors, pharmaceuticals, and autos, complemented by a strategic economic alliance with the EU to counteract third-country export controls and overcapacity issues. Similarly, Pakistan is poised to unveil a comprehensive national industrial policy aimed at revitalizing its stagnant industrial sector, which has seen a significant decline over the past three decades, with new policies targeting export growth and industrial development. Greece is also pursuing reforms to create a more productive and competitive economy through tax reductions, especially for families and young people, and by establishing a new authority to enforce market competition and consumer protection. Meanwhile, Argentina faces political and economic challenges as key industrial stakeholders call for government self-criticism and renewed dialogue with the productive sector to address setbacks and the need for a coherent industrial policy. These developments collectively underscore a global trend toward stronger industrial strategies to boost economic resilience and competitiveness.