ISLAMABAD — In a major policy shift aimed at industrial revival, the government has proposed a new Bankruptcy Law under its freshly launched Industrial Policy. The law offers a one-year grace period for repayment obligations, providing critical relief to struggling businesses and promoting continuity across sectors.
Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar, announced the initiative during a meeting with FPCCI President Atif Ikram Sheikh and a delegation of business leaders. The group praised the government’s efforts and discussed key challenges facing the private sector.
To ensure smooth implementation, a stakeholder committee supported by eight sub-committees has been formed. These bodies will oversee infrastructure development and policy rollout. Akhtar reaffirmed the government’s commitment to fostering a business-friendly environment and sustainable industrial growth.