Industrialization must be given top priority for economic growth: Malawi Honorary CG

LAHORE, (UrduPoint / Pakistan Point News - 6th Apr, 2026) Honorary Consul General of the Republic of Malawi, Member Trustee Karachi Port Trust (KPT) and former president Karachi Chamber of Commerce & Industry Abdullah Zaki said on Monday that industrialization must be given top priority for economic growth.

He was called on Faheemur Rehman Saigol, President of Lahore Chamber of Commerce & Industry (LCCI) here to discuss key economic challenges and emerging opportunities for Pakistan’s industrial and trade sectors. LCCI Vice President Khuram Lodhi, Executive Committee Members Amir Ali and Abdul Majeed, along with members Naeem Hanif and Shahzad Aslam were also present.

The meeting focused on industrial relocation trends, investment prospects arising from changing regional dynamics, export opportunities in African markets, and ongoing coordination between the business community and government institutions.

Abdullah Zaki underscored the need for prioritizing industrialization as a national economic strategy. He said that governments must place industry at the center of economic planning to generate employment, increase exports and attract foreign investment.

He observed that evolving economic and geopolitical challenges in Gulf countries could create new investment flows toward regional economies, including Pakistan. Karachi, due to its port connectivity and industrial base, could particularly benefit from potential investment relocation if the right policies and incentives are introduced.

He also highlighted the vast untapped export potential in African markets, urging Pakistani businesses to explore trade opportunities across the continent. He noted that African economies are expanding and offer promising avenues for Pakistani products, especially in manufacturing, textiles, food processing and value-added goods.

He emphasized that stronger institutional linkages between chambers of commerce, diplomatic missions and government bodies can help Pakistani exporters access new markets and diversify trade destinations.

He said that the enhanced collaboration between chambers across Pakistan is important to promote investment, facilitate trade diplomacy and present unified recommendations to policymakers for economic reforms.

LCCI President Faheemur Rehman Saigol highlighted the growing challenges faced by industries operating in Lahore, particularly relating to relocation pressures, rising operational costs and regulatory constraints. He emphasized that industries require a stable and facilitative policy environment to sustain production and employment.

He said that the Lahore Chamber is actively engaging with the government to address industrial concerns through constructive liaison and policy dialogue. He added that the Chamber has finalized comprehensive budget proposals aimed at promoting industrial growth, easing the cost of doing business and encouraging investment. These proposals, he said, will be presented not only to the Federal government but also to the Punjab government to ensure that provincial-level issues are adequately addressed.

Faheemur Rehman Saigol noted that Pakistan stands at a critical economic juncture where policy consistency and industry-friendly measures can significantly enhance productivity and exports. He stressed that strengthening public-private coordination is essential for achieving sustainable economic growth.