Pakistan earnestly needs to revive Industrialization through DFIs, Joint Ventures FDI to promote value added sector if industrial survival was required in highly competitive regime of China-Pakistan Economic Corridor. Muhammad Iqbal Tabish, newly appointed CEO of Pakistan Industrial Development Corporation (PIDC) who desired a leading role for Ministry of Industries and Production in CPEC initiative, stated this.
Tabish who has served as the Senior Economist in Trade development Authority of Pakistan (TDAP) and possesses wide experience of working with Private sector of Pakistan and South Asia as Secretary General of South Asian Association for Regional Cooperation Chamber of Commerce and Industry has emphasized for the need of revival of indigenous industry stating that the country was facing supply side constraints, lower output and lacked in industrial productivity, which has made our products globally and domestically uncompetitive., subsequently declining Pakistan exports. “In order to attain higher economic gains fro CPEC , he asserted for strong inter-ministerial linkages and demanded for multi-stake holders discussions particularly involving leading industrial players who can play vital role in promoting indigenous industry.
CEO, PIDC has expressed strong determination to restore the image of PIDC which has been the pioneer organization to establish industrialization in Pakistan. ” Time has come again to further encourage and promote industrialization in the country to address supply side constraints and ability to produce quality products at competitive rates. ” said CEO, PIDC while stating that a huge amount of US $ 34 billion, earmarked for energy sector will bring plentiful energy, required for industry to create surpluses.
Iqbal Tabish hoped that subsidiaries of PIDC need to redirect on productive guidelines and efforts are being taken both and PIDC and Ministry of Industry and Production level to streamline these organization. He added that National Industrial Park- a subsidiary of PIDC is being activated on priority basis to facilitate industrialization in Pakistan. Although CPEC will open visa of many new opportunities, investment by local industrialists will help attract Foreign Direct investment, which was much required to add value to our local products.
Iqbal Tabish is a member of UNESCAP Economic Advisory Council, observer World Bank Climate Investment Climate Fund-Washigton in addition to be an advisor to CCPIT Sichuan and Yunnan Provinces for China-South Asia Economic Cooperation