Global competitiveness: Industrial sector needs to enhance capacity: Dagha

KARACHI: Sindh Minister of Industries, Commerce and Revenue, Younus Dagha Wednesday urged industrial sector to focus on increasing productivity and capacity to improve regional and global competitiveness.

Speaking as the chief guest at the 38th Corporate Excellence Awards (CEA) Ceremony organized by the Management Association of Pakistan (MAP) here, he said that the foreign and local investment and improved infrastructure are necessary for sustainable economic development.

He underlined the importance of capacity building to enhance the skills, knowledge, and capabilities of individuals and institutions for good governance and urged the domestic industry to adopt the latest technology for cost cutting.

Dagha also urged for an efficient import substitution plan under the economic reform and said that there is need to make concrete efforts to enhance the export as only higher exports would help the national economy to overcome the crisis.

“There is no such thing as free trade in the world which is divided into certain economic blocks and unless we have market space there we cannot increase exports,” he added. On the occasion, President MAP Talib Syed Karim said that the Corporate Excellence Awards aspire to guide the industry in managing capital and human resources effectively, paving the way for leadership and serving as a beacon for those companies aspiring to achieve the same.

He said companies operating in any domain need to revolutionize their operations by inculcating technology and its wonders for accelerated growth. “Artificial intelligence is the new frontier for companies aiming for excellence, as scientists and engineers envision a future that will usher us into the next era of the Industrial Revolution,” he accentuated.

Copyright Business Recorder, 2023