FPCCI calls for special economic initiatives to boost Balochistan’s growth

KARACHI: President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Atif Ikram Sheikh has stressed the urgent need for government intervention to promote industrialisation in Balochistan.

He called for tax and duty waivers, establishing and incentivising special economic zones (SEZs), setting up a provincial bank, and improved law and order to foster economic growth and attract investment in the province.

Sheikh explained that the federal and provincial governments should facilitate the establishment of the Bank of Balochistan (BoB), similar to Sindh Bank, the Bank of Punjab and Bank of Khyber.

Such an institution would improve access to financing for industries in Balochistan, which is crucial for economic viability. “The Bank of Balochistan should devise lending policies tailored to the specific needs and challenges of the province’s business community and entrepreneurs,” he said in a press release on Monday.

Sheikh asserted that this initiative could usher Balochistan into a new era of economic development, attracting both foreign direct investment (FDI) and domestic investment from across Pakistan. He stressed that establishing an indigenous industrial base is critical to unlocking the province’s economic potential.

Nasir Khan, vice president of the FPCCI from Balochistan, highlighted the dire situation in the province, pointing out the shrinking employment opportunities for youth due to the struggles faced by small and medium enterprises (SMEs).

“SMEs are the most affected businesses and serve as the real engine of growth for a developing country like Pakistan. They generate employment opportunities, and their decline poses a serious threat to the province’s economic stability,” Khan said.

The FPCCI leadership called on policymakers to take immediate steps to support Balochistan’s industrial growth and ensure the province is integrated into the broader national economic framework. Enhanced infrastructure, financial incentives, and a secure environment for business operations were identified as the critical pillars for sustainable development in the region.