Government urged to exploit potentials of economic golden triangle

The exporters, manufacturers and traders belonging to Golden Economic Triangle of Pakistan had urged upon the government to take drastic steps for exploiting the unrealized the potentials of unique economic golden triangle of the country.

The golden triangle had vibrant and strong industrial base producing for domestic and international markets. It may be mentioned that three cities Sialkot, Gujranwala and Gujrat were trying to establish their positions as major stakeholders and contributors of national economy. These cities are known as the golden triangle of Pakistan with strongest industrial base but still unspoken.

The triangle represents the highest SME base of Pakistan employing millions of skilled workforce and among highest per capita income in the country. The triangle holds its unique importance because of its production of highly value-added commodities being both exported local trade.

Pakistan's overall economic growth has also been impeded due to too much reliance on Textile Industry and not focusing on Export Diversification spearheaded by highly value-added sectors hailing from the Golden Economic Triangle including the Sports Goods and Apparel, Surgical Instruments, Leather Products, Cutlery, Ceramic Ware, Sanitary products, Metal Processing, Switch Gears and Transformers, Pumps and Motors, Articles and Made-ups of Plastic and PVC, Fans, Carpets and Furniture to name a few.

Talking to Business Recorder on Sunday Former President Sialkot Chamber of Commerce and Industry (SCCI) Dr Nouman Idrees Butt said that Sialkot, Gujranwala and Gujrat represent the highest SME base of Pakistan employing millions of skilled labour and among the highest per capita incomes of the country.

It is high time that government should take revolutionary steps for exploiting the potentials of the Golden Economic Triangle (Sialkot, Gujranwala and Gujrat).

Since independence, the region evolved itself, indeed with the help from the Government, which is considered as a pillar and facilitator of the economy he said. The credit he said goes to the august Chambers and Associations of the three cities who have strived to promote economic activities in the region by facilitating the businesses and initiating projects to aid the exports on self-helped basis.

Dr Nouman further added that keeping in view the global economies and successful models like China, Bangladesh, Vietnam and others, it can be established that their positive export performances during the last two decades depended a lot on targeted trade policies and reliance on value-addition.

He suggested that potentials and craftsman skill of Golden Economic Triangle acknowledged at several forums but unfortunately has not been given deserving priority. The prevailing economic crisis in the country indicates that the potential of cities like Sialkot, Gujranwala and Gujrat was never tapped and utilized he said.

Dr Nouman further added that federal government should realizes the fact that increasing exports is the only way out for Pakistan and for that it would have to focus on promoting Export Entrepreneurship that is thriving in the Golden Economic Triangle of Pakistan.

Copyright Business Recorder, 2019