Federal Secretary, Ministry of Industries and Production, Abdul Ghaffar Soomro has said that the ministry has once again started consultation process with the stakeholders to prepare a comprehensive industrial policy.
Addressing a joint meeting of industry, investment and privatisation and human resources and social development sub-committees of Karachi Chamber of Commerce and Industry (KCCI) on Monday, he said that the country has no comprehensive industrial policy at present which has created many problems for smooth operation and investment in the industrial sectors.
He added that earlier, efforts were made to prepare an industrial policy and directives were issued to consult all stakeholders rather than preparing policy while sitting in the office. However, he admitted, the draft of policy prepared in consultation with stakeholders was neither impermeable nor practicable. He stressed that industries and investment issues can not be resolved without having a comprehensive industrial policy.
Replying to a question about Engineering Development Board (EDB) which only caters to the needs of auto sector development and does nothing for other sectors, Soomro said the board's role in engineering sector development will be defined in the industrial policy. He informed that a draft of national engineering export strategy has been prepared to boost export of engineering goods. This draft will be presented in the cabinet meeting for consideration and approval. "We have to diversify our exports," he said adding that Prime Minister's Quality Award will be launched soon.
The federal secretary agreed that interest rates and cost of manufacturing are higher in Pakistan and should be reduced. He further said the country's biggest issue is gas and power shortage. Efforts are being made and several power-generating programmes launched to overcome this shortfall. He added that an agreement was signed with Iran for gas supply and said completing these will take time.
Speaking on the occasion, Advisor to Chef Minister Sindh for Investment, Zubair Motiwala said Pakistan could not compete with its competitors in international marks due to high cost of utilities in Pakistan, which is 50 percent higher than Bangladesh. He termed Oil and Gas Regularity Authority (Ogra) and National Electric Power Regulatory Authority (Nepra) as 'white elephants'. These organisations did not bother about the interest of general public, he added.
Former chairman Site Association of Industry (SAI), Engineer Abdul Jabbatr emphasised the need that EDB focuses all engineering sectors, adding that at present, it is more focused on the auto industry sector. In his address, Former SVP KCCI, Jawed Bilwani said EDB must take pain to collect intimation as to why industries are closing down in the country and adopt measures for revival of these. Earlier, Acting President KCCI Talat Mahmood briefed the federal secretary about KCCI's working and its membership.
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