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Pakistan on path of industrial boom and image building

Pakistan on path of industrial boom and image building

Interview with M. Shariq Vohra—President, Karachi Chamber of Commerce & Industry

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CEO Shazil Group of Companies

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Member Board of Governors Universities / Educational Institutions:

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PAGE: What is your take on the socio-economic progress of our country since 1947?

Shariq Vohra: The past 74 years have not all been kind for our beloved country which restrained the Socio Economic progress in Pakistan. Where some economic indicators do reveal modest growth since independence, social indicators tell a different story. Even though things appear to be moving in the right direction now and the social sector has shown the utmost resilience, especially during the recent COVID-19 period, the past 2-3 decades for Pakistan have been tough. In the Human Development Index for instance, Pakistan ranked at 154 out of 189 countries in 2020 which is much lower than regional economies like India (131), Bangladesh (133) and Sri Lanka (72). Likewise, life expectancy in the country has increased from 66.9 years in 2017 to 67.3 years in 2019 but is still below six of the seven other South Asian economies such as Bhutan (71.1 years) and Sri Lanka (76.6 years). Sadly, Pakistan also has the highest infant mortality rate among South Asian economies at 55.7 per 1,000 live births in 2019 as compared with Afghanistan (48) and Bangladesh (25.6). Furthermore, the literacy rate in Pakistan is not high and remains at around 60%. The figures for labor participation are not very positive either at 31.7% in 2018 as compared with 28.97% in the year 2000. Un-employed labor has also increased from 3.24 million people in FY01 to 3.79 million in FY18. Hence, Pakistan still has a long way to go with regards to the social sector. Various schemes and programs introduced by successive governments over the past few years will likely bear fruitful results in this regard in the medium to long term, especially with matters like vocational training now in focus.

PAGE: Could you tell us about the industrial achievements of Pakistan since its independence?

Shariq Vohra: Pakistan has a checkered history with the industrial sector. Since the country gained independence in 1947, Pakistan has struggled to maintain momentum. There have been periods where the country saw a diverse and booming industrial sector and then there were times when not just companies but entire sectors were forced out of competition. Major occurrences such as the nationalization and de-nationalization of the industrial sectors coupled with lack of supportive government policies as well as indirect elements such as the law and order situation in the country have tested the strength and patience of the country’s business and industrial community. Still, Pakistan has witnessed some great achievements. For instance, the country has great textile, sports, surgical and cement sectors that have been catering to the domestic and foreign demand. Pakistan Ordinance Factories are another strong point for the country. Now Pakistan is witnessing a new era under the China Pakistan Economic Corridor (CPEC) as well as interest by different countries to establish industrial joint ventures in Pakistan like automotive manufacturing plants as well as manufacturing of smartphones by some globally renowned brands. One area that should be mentioned is that the industrial sector was quick to rebound and remain afloat even after suffering a major blow in the form of the COVID-19 pandemic and its related restrictions and managed to enhance its market share while other countries struggled to deal with the pandemic.

PAGE: How do you see the Independence Day celebrations this year vis-a-vis the preceding year?

Shariq Vohra: Pakistan’s Independence Day celebrations this year will likely surpass last year’s level of display of patriotism and excitement. In 2020, the country had come out of a complete lockdown and Pakistanis were still coming to terms with living with the pandemic. This year, the people have a better idea of how they can celebrate amid the pandemic. Furthermore, it is encouraging that Pakistanis are getting themselves vaccinated in record numbers which will allow them to better enjoy the celebrations. Apart from this, the people of Pakistan will continue the celebrations with their hearts filled with prayers, love and solidarity for their brothers and sisters in the Indian Occupied Kashmir. On this great day of celebration, Pakistanis must remember those who lost their lives to the pandemic and exercise strict adherence to the government’s notified SOPs.

PAGE: What is the global perspective regarding the image of Pakistan?

Shariq Vohra: In the past few decades, the country has suffered a lot due to the unfairly negative global image of the country. However, things have started to turn around. A few years ago, foreigners refrained from visiting Pakistan and their governments advised against travelling to the country in their travel advisories. Now that the law and order situation is under control due to the outstanding efforts of the law enforcement agencies, the country image has bounced back. This was also helped by the fact that Pakistan’s potential was highlighted by agencies like Forbes that lately recognized Pakistan among the countries to visit. Furthermore, various renowned vloggers portrayed the country in a positive manner. On the non-tourism side, the business and industrial community, alongside the government was able to highlight the country’s potential in various foreign markets resulting in enhanced trade and economic activities. Overall, Pakistan’s image has improved and it is encouraging that stakeholders on all fronts are making an all-out effort to keep portraying the country in a positive manner.

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