Home / General / Zulfikar Thaver stresses need to promote import substitution industries to save valuable foreign exchange

Zulfikar Thaver stresses need to promote import substitution industries to save valuable foreign exchange

Karachi, March 13, 2016 (PPI-OT): Member National Committee Small and Medium Enterprises (NCSME) Zulfikar Thaver stressed the need to promote import substitution industries to save valuable foreign exchange. Thaver said we are importing vast range of items, although some of them are manufactured in Pakistan and the domestic industry is facing very tough competition. Other items which are imported can be manufactured in Pakistan and every effort must be made to promote the manufacture of imported items in Pakistan.

He said the recent agreement with China provides opportunity to set up import substitution industries in Pakistan with Chinese collaboration and the Small and Medium Enterprises Development Authority (SMEDA) could facilitate the SME sector by understanding with their Chinese counterpart for collaboration and transfer of technology.

He stated that in view of the global slowdown in commodities and decline in our export, there is need to overcome the situation of decline in exports and lessen the heavy reliance on import of many items. The country imports many items from China and pays heavy import bill whereas the imported goods could be manufactured in Pakistan under Chinese collaboration.

Even items which do not require much expertise like stationery, electrical goods, footwear, apparel, confectionery and furniture are imported in ship loads by importers. In this way the country has become an import economy relying on imported consumer goods. He advised the policy makers to think ahead and plan accordingly to make Pakistan a self sufficient country rather than importing goods which could be made in Pakistan.

He said Pakistan is an agricultural country and enjoys the blessings of handsome rain, healthy seasons, fertile soil and good harvest of rice, wheat, maize, cotton, fruits and vegetables and human resources. We have the capacity for value addition to our produce and are in a position to meet the global challenges of merchandise. We need the support of the different ministries of science and technology, agriculture, finance, commerce and industries to promote, facilitate and motivate the sector to come forward and set up industries.

Thaver advised the prospective SME investors to contact the Pakistan Council of Scientific and Industrial Research (PCSIR), the Engineering Development Board (EDB), the Small Medium Industrial Leasing Estates (SMILE) and SMEDA for information and guidance for setting up import substitution industries.

For more information, contact:
Union of Small and Medium Enterprises (UNISAME)
75/1 3rd Commercial Street,
Phase IV, D.H.A., Karachi, Pakistan
Tel: +92-21-35884225-6
Fax: +92-21-35380642
Cell: +92-300-8245307, +92-321-8245307
Email: unisame@gmail.com

Comments are closed.

Scroll To Top