Senior Vice President of Faisalabad Chamber of Commerce & Industry (FCCI) Sheikh Farooq Yousaf has said that business community has to dig out the opportunities from CPEC to make it favourable for Pakistan. He was addressing the participants of 24th Mid Career Management Course of the National Institute of Management (NIM) Islamabad. He identified three areas 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 percent 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 percent for the conventional while remaining 80 percent 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 percent 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 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.
Regarding industrial situation, he said that out of 1 million power looms 40 percent has been closed. Similarly the 50 percent 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 the 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 Hundai motor plant is expected to be set up very soon, he added.
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