Industrial sectors: 'China, Pakistan should evolve strategy to ensure cooperation'

President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has emphasised that China and Pakistan should devise a strategy to ensure cooperation between the industrial sectors of both the countries which requires greater vision. He said industrial sector is worried of competition with the Chinese companies in the backdrop of CPEC.
Pakistani companies, especially the small industries are worried that Chinese companies will drive them out of the business which is against their interest therefore government should take steps to ensure their survival, he said. Mian Zahid Hussain said that CPEC is a fate changer project which is being supported by majority of the population but unnecessary secrecy has resulted in anxiety among some stakeholders which is against the national interests.
Uncertainties in the industrial sector is disadvantageous to the industrial expansion in Pakistan which some believes that CPEC may transform Pakistan into a consumer market creating issues like reduced revenue and joblessness. Mian Zahid Hussain said that tariff commission should be improved so that it can take timely steps to protect local industry from unfair business practices.