KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has organised the first meeting of Industries, Investment and Privatisation and Human Resource and Social Development. The meeting highlighted that when there is no industrial policy in the country, how one could imagine development of industrial and manufacturing sector. “It is a strange fact our exports hold raw material a major share as compare to the world trade, which is 65 percent of manufactured goods, exporting raw materials means crippling the local industry,” said Talat Mahmood, acting president KCCI. “We need to address the issues on priority basis, it’s a sad fact that Pakistan is still managing the exports at meager $20 billion while regional exports has crossed $100 billion,” he said.
The price of energy is highest in the region — even Bangladesh today has energy cost at 50 percent in comparison, hence its competitiveness has increased because of low manufacturing cost.Zubair Motiwala, special advisor to CM on investments suggested Abdul Ghaffar Soomro, Federal Secretary of Industries and Production to enhance its role and address the issues. The first is the load management of gas; when Sindh produces 71 percent and gets only 31 percent, which leave the shortage of 25 percent, which is against the article 158 that gives Sindh a priority region. Abdul Ghaffar Soomro said he agreed Pakistan has great potential and the absence of industrial policy is one major reason of downfall. He identified the core ministries, Ministry of Textiles, Commerce, Industrial and Production, Energy and Petroleum, Water and Resources and their liaison holds vital importance – Dailytimes