PEC's Make in Pakistan Policy Proposes 15-year Localization Plan.

The Pakistan Engineering Council (PEC) has proposed a policy called 'Make in Pakistan' aimed at reducing the country's trade deficit and promoting self-reliance. The policy focuses on localization and import substitution in the manufacturing sector, with the goal of improving GDP growth and building the capacity of engineering professionals. It also emphasizes collaboration with advanced countries and increasing exports of medium to hi-tech products. The PEC will act as a statutory body for implementing and reviewing the policy, and the Industrial Development Bank of Pakistan (IDBL) will provide funding for the engineering industry. The policy also suggests improving the business environment and promoting industry-academia collaboration. [Extracted from the article]