Mian Anjum Nisar, former president of FPCCI and LCCI, highlighted the ongoing negative impact of the 1971 nationalization policy on Pakistan’s economy. In a meeting with the Council of Economic and Energy Journalists, he criticized successive governments for weakening the industrial base through poorly conceived Free Trade Agreements (FTAs), particularly with China, undermining local competitiveness.

He also condemned the Independent Power Producer (IPP) contracts, noting that Pakistan signed for 45,000 MW of electricity despite only needing 26,000 MW, which the infrastructure cannot support.

Nisar pointed out how the U.S. protects its industries with tariffs while Pakistan suffers from poor policy decisions.