FAISALABAD: China Pakistan Economic Corridor is an opportunity as well as challenges. The challenges are very visible but business community has to dig out the opportunities to make it favorable for Pakistan, said Sheikh Farooq Yousaf Senior Vice President Faisalabad Chamber of Commerce & Industry (FCCI).
He was addressing the participants of 24th Mid Career Management Course “of the National Institute of Management (NIM) Islamabad.
He identified three points needed to face the CPEC related challenges and said that tariff rationalization is imperative to make our exportable surplus competitive regionally and internationally.
He said that 60% of our youth is below the age of 35 years, which must be trained in different skills to enhance the productivity and quality of our products. The skilled man power could also be exported to other countries as expatriate Pakistani’s are already sending huge remittance that have played a major role in bridging the gap between imports and exports.
He also mentioned that we should adopt a comprehensive educational policy to allocate only 20% for the conventional while remaining 80% should be spent on vocational training so that need based education could be imparted to the burgeoning youth.
Regarding third point, he said that we must conserve our industry by lunching joint ventured tagged with technology transfer. “We must impose condition to employ 80% Pakistani in any foreign industry with a clear focus on technology transfer”, he added
Responding to the questions raise by the participants of the Mid career course, Former President FCCI Engineer Rizwan Ashraf said that the business community is contributing its due role for the fulfillment of its Corporate Social Responsibility (CSR). “Apart from contributing heavy taxes and duties etc for social security, EOBI, they are also helping Government during major national calamities.
He said that during last earthquake, the FCCI sent 80 trucks of relief goods where as Lahore could manage only 8 trucks. “The FCCI also has a separate disaster management committee to work during such disasters”, he added.
He said that there are two partners to complete the job of CSR, we are contributing heavy taxes but the delivery of services on the part of Government is very poor.
He also mentioned that there were only three domestic flights just two years ago. But now with the sole efforts of FCCI 126 international and domestic flights are operating from Faisalabad International Airport.
Regarding industrial situation, he said that out of 1 million power looms 40% has been closed. Similarly the 50% of medium sized industry is either closed or working partially. He further told that in organized sector there were 350 spinning units, out of which 150 have been closed down.
He further told that on other hand a UK based firm has installed a Tin Can manufacturing unit in M3 Industrial Estate. A dry battery unit has also been installed while a Hondai motor plant is expected to be set up very soon, he added.
He also responded to a number of questions and quires made by the participants of Mid Career course, while former President Muzzamal Sultan offered vote of thanks.
Later Sheikh Farooq Yousaf SVP presented FCCI mementos to Directing Staff Fauzia Parveen and Madam Khalida Bashir.
Madam Fauzia Parveen also handed over a crest of the National Institute of Management Islamabad to Sheikh Farooq Yousaf.
