LAHORE: A new Bankruptcy Law has been proposed under Pakistan’s recently formulated Industrial Policy, providing debtors with a one-year grace period for repayment obligations.
The announcement came during a meeting between Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar, and FPCCI President Atif Ikram Sheikh, along with a business delegation.
The delegation discussed implementation of the Industrial Policy and resolution of industry-related challenges. A committee comprising all stakeholders has been established to oversee execution, while eight sub-committees will focus on infrastructure development to support industrial growth.
The government emphasized its commitment to creating a business-friendly environment and ensuring sustainable industrial development across Pakistan.
