Development of Engineering sector synonymous with economic growth:EDBCEO

Development of Engineering sector synonymous with economic growth:EDBCEO

ISLAMABAD, Feb 4 (APP): Chief Executive Officer, Engineering Development Board (EDB) Aitazaz A. Niazi has underlined the importance of engineering sector in economic development of Pakistan.“Development of the sector is synonymous with the economic growth of the country because industrialization promotes the country’s potential to enhance export, substitute imports and generate massive employment opportunities for the masses and thus adds significant value to its economy”,he told APP in an interview here on Friday.

He said that the promotion of engineering sector in the country is therefore top priority of the government and all out efforts are being made to rationalize the cost of doing business, provide the necessary technological, physical, intellectual and financial infrastructure and above all ensure a stable policy environment in the country. Referring to development of engineering sector in China, Thailand, Korea and Malaysia, he said these countries have made a name in global markets and turned a new leap in industrialized world.

He added that the share of engineering sector in export of these states is on an average 48 against 4 percent in Pakistan.  Therefore, the country has to pay full attention to development of engineering sector for solving its economic problems, the CEO said. He described, Gujrat, Wazirabad, Sialkot, Gujranwala, Lahore, Sheikupura, Mianchuno and Karachi as hub of engineering industry and noted presence of majority of industry as small scale which needed encouragement and guidance form the government.

Highlighting the steps taken by EDB in this regard, he said the Board has embarked upon a series of sectoral policies to facilitate investments in engineering industry in a move to enhance its competitiveness in the global economy.

He especially mentioned the details of free expert services secured by the Board from international donors for capacity building of needed industries.
Talking about the present energy crisis in the country, he said that EDB has started an energy conservation programme and identified wastage in various sectors. A foreign expert of the Board has pinpointed 45 percent wastage only in steel sector.

The CEO EDB emphasized the need of developing alternative energy sources in the country and said that the Board has carried out an assessment of existing capabilities of local manufacturers of wind turbine component and the potential for future expansion in capacity through transfer of technology.
He appreciated the efforts of a local firm for indigenization of manufacturing of wind turbine. Mr. Niazi added that the firm has already started a pilot project in the Capital and planning to expand the facilities in near future.

He also highlighted the potential of motorcycles, surgical goods and sewing machine industries and added that Pakistan is producing 1.4 million motorcycles well beyond the target fixed in Auto Industry Development Programme (AIDP). It can be easily enhanced to the target of 3 million if necessary incentives were provided which will result in price reduction and increase in exports – APP