1579 industries closed in Pakistan in five years: moot told

KARACHI:“Government and private sector should invest in such industries that could produce trained labor that will help strengthen our economy.”

“The trained labor could also be sent to other parts of the world”, said THAL Limited’s Advisor Sohail P Ahmed while addressing a symposium on “Industrial Renaissance and Competitiveness for Pakistan”, organized by Pakistan Academy of Engineering (PAE) in collaboration with THAL Limited at a local hotel on Saturday.

“Economic development should not be considered on the mercy of natural resources or cheap labor, as it depends on four factors, including intellectual capital, industrialization and development of human capital, value added produce and total quality management,” Sohail said.

He said: “We are fourth largest producer of cotton in the world, and our textile industry is growing, but unfortunately international markets are showing no in interest in it. He said international markets do not have the problem with product quality or price, but fact is that they feel our services very bad despite being good. Sohail said 1,579 industrial units in Pakistan had been closed down during last five years until 2012 as per the Ministry of Industries and Production report. He said in these given figures, Sindh province was on the top, where 700 industries have been shut, while KPK remains second with closing down of 688 industrial units.

PAE’s Dr Jameel said Pakistan ranks very low on Human Development Index 2012 report issued by the World Economic Forum, whereas Malaysia, Sri Lanka and China are on the top. He said: “We will have to bring big change in the country’s corporate sector. Public sector industries need to take lead in this regard.” He showed concern over lack or government interest in developing industrial zones. He said the gap between engineering universities and industries should be plugged as they are two parts of one body.

Dr Haroon said the crucial element for the successful implementation of the Pakistan’s industrial renaissance is the involvement of all stockholders including all institutions at national and regional level.