ISLAMABAD: Speakers at a seminar, Wednesday, while stressing the need for productivity-led economic growth said that an across-the-board increase in productivity in the country is the only option to sail Pakistan out of the current economic woes.
They further said that research and development, technology, skilled and innovative manpower are the most important tools to increase economic productivity.
Speaking at the workshop titled, “APO Vision 2025, Inclusive, Innovation-Led Productivity Growth in the Asia-Pacific” Co-Organized by the National Productivity Organization (NPO), Ministry of Industries and Production in collaboration with the Asian Productivity Organization (APO), they said that no sector of the country develops without innovation.
They said that the current account deficit in Pakistan is difficult to resolve without increasing export and foreign investment and to bring export and foreign investment, it is necessary to bring productivity in the country’s industrial sector.
Speaking on the occasion, Senior Vice President Islamabad Chamber of Commerce and Industry (ICCI) Faad Waheed Sheikh said that technology and manpower can play an important role in the productivity of the country.
He said that the USA is an innovative country which has ruled the world on the basis of innovation. He said that there is a need to extend information technology to more sectors in the country, which can increase productivity in the country. Waheed said that smart ideas are needed in the country, which will enhance economic productivity in the country and increase economic opportunities.
He said that automation of public and private sectors in the country is necessary for economic productivity and innovation.
Dr Ali Sajid, an expert in productivity, said that industrial and agricultural productivity is very important to strengthen the country’s economy. He said that economic productivity is the main driver of sustainable economic development in the country. Sajid said that the productive culture in the country needs to acquire a productive capacity in the industrial sector, which must be worked on by the NPO.
He said that to increase innovation and productivity, we have to work at both academia and industry levels. He said that Pakistan’s industrial production ranking is currently lower than the regional countries including Iran and Vietnam.
He said that political stability also comes from economic development, while politicians in our country talk about political stability first. He said that there is no concept of productivity without quality, therefore, industrial and agricultural quality is essential.
He said that the countries which are developed, including America and China, have created wealth only through innovation. Similarly, our regional countries developed agriculture by increasing innovation and productivity in agriculture and today Pakistan is importing food.
He said that the reason for the lack of industrial productivity in Pakistan is that stakeholders are not consulted here. He said that the economic development of Korea, Japan, and Vietnam is the main reason for innovation and productivity.
On this occasion, Chief Executive Officer NPO Alamgir Khan said that the NPO working on bringing the productivity culture to market the country in the global market. He said that we are starting to gain productivity in the country which is having a positive impact.
Copyright Business Recorder, 2023