Message from Iftikhar Ali Malik Chief Executive, Guard Group President, SAARC Chamber of Commerce & Industries Former President, FPCC1 & LCC1

TEXT: Economic sustainability is in adopting all those measures which lead to self-sufficiency. Two major fields for self-sufficiency are Agriculture & Industry. Today we are weak in both sectors, once we were self sufficient in Agriculture but now we are importing wheat, pulses and food items. Likewise our industry has not been able to manufacturers value added products required by the condemners-mainly due to shortage of essential inputs like electricity, gas & oil. Moreover, so far our emphasis has been on production of exportable items to earn foreign exchange and his ignored the development of Industry to manufacture import substitute products to save foreign exchange. Obviously we can request the public to use Pak made products when these are available in good quality and affordable prices. Thus I appreciate the Business Recorder for laying emphasis on the first step of achieving self sufficiency i.e. “Make in Pakistan.” Once our industry understands the importance of making import substitute products of their choice in Pakistan then we can convince the consumers to say yes to Pakistani Products.

CPEC is considered as the game changer for Pakistan as it covers many development required for promotion of transport, electricity and special economic zones (SEZ). SEZs provide good opportunity to develop industry based on local raw materials, to manufacture import substitute items with new technology and exportable items. Since we are concerned with import substitute industry, it is suggested that Govt. of Pakistan make out a list of those industry which we require so that investors know beforehand what they are required to manufacture. These products manufactured in SEZ should be allowed to enter domestic market free of duties so that these could be sold to domestic consumers on competitive prices as compare to imported products. Import substitute industries set-up outside of SREZ should also allow these incentives.

Moreover, some advanced countries do not manufacture certain commodities because of comparative advantages and shift to manufacturing high tech goods. We can get technologies from those countries to manufacture leftover products in Pakistan. It will help Pakistani industries to manufacture high quality goods already known in the International Market.

In the end I would like to say that credit that credit goes to guard group that has been producing a number of import substitute auto parts in Pakistan according to International Standard. Our Agriculture project has also been involved in promoting new varieties. It has succeeded in domestically growing Hybrid Rice Seeds giving higher yields as compared to the traditional seeds being marketed in the country and supplied to the farmers.

Copyright Business Recorder, 2022