Expert on modern methods of cost cutting, Abid Anwar has advised industrialists to adopt modern techniques, used world-wide to reduce cost of doing business. He said that the modern world is adopting various methods, including JIP (Just-in-time), target-posting, zero-based budgeting, benchmarking, etc, to cut cost of dong business.
He was giving a detailed presentation on modern methods of cost cutting at a seminar tilted "How to reduce cost of doing business" organised by Korangi Association of Trade and Industry (KATI'). He expressed his concern that Pakistani industrialists have so far not adopted modern methods due to which they are facing tough competition in the world market and striving for survival. He said that industrialists have to adopt cost reduction techniques in order to increase competitiveness and profit maximising. He said that the industrialised world, including Japan is now using these techniques and making their industries viable.
Chairman KATI, Razzak Hashim Paracha advised the industrialists to find ways and means to reduce cost of doing business in such a situation where the government is blindly raising the utilities prices. He said that everyone knows that under whose pressure the government is raising the prices of electricity, gas, water, POL and other industrial inputs and the industry has no option but to reduce their cost of doing business by adopting different methods otherwise the industry would completely collapse.