The Lahore Chamber of Commerce and Industry, in the second edition of its quarterly journal Economic Outlook, has urged the government to do something about depleting water resources that could put the country's growth on stake in the coming years. In its Economic Outlook, the chamber has advised the government to focus on water and energy issues on priority basis and allocate as much as possible funds for water reservoirs to ensure water availability for the agriculture sector and to generate cheap hydel power.
Chamber President Ijaz Mumtaz said, "Pakistan is going to face severe water shortages in the near future since water resources of the country are depleting at a rapid pace. The article on water conversation describes the repercussions of the water crisis for the industrial sector and also suggests strategies for water management and conservation."
He said his chamber was trying to unveil the tremendous potential of Pakistani products in African markets by not only discussing the current trade scenario of African countries but also by analysing the sector-wise potential for Pakistani exporters. "The major obstacles in enhancing trade with African countries are also highlighted in the LCCI Economic Outlook. Pakistan is among the top 10 Kinnow producers of the world. The Economic Outlook has highlighted the tremendous scope of enhancing Pakistani Kinnows [citrus] to the developed world markets.
"The international petroleum prices have declined by around 50 percent in the last one year. The Economic Outlook discussed the reasons behind the sharp decline in petroleum prices and its impact on the economy of Pakistan. Some large-scale fire incidents have happened in major business centres and industrial concerns. The LCCI in its Economic Outlook has highlighted the major causes of fire incidents and suggests suitable measures to avoid such type of incidents in future."
He went on, "The exports of Pakistani leather products have been stagnant around $1 billion for the last few years whereas the leather exports of our neighbouring countries have increased by more than 70 percent in the past four to five years. Our research analyses the reasons behind stagnation in leather exports and also suggests suitable measures for the development of leather industry in Pakistan.
"The very objective of the LCCI is to give a helping hand to the government to expedite economic uplift of the country. Almost all areas of the economy including agriculture sector would be thoroughly discussed in the LCCI's 'Economic Outlook' in its upcoming issue. The agriculture sector must now be upgraded into process and semi-process industry. The value-addition for the agricultural produce should go beyond dependence on cotton textile. Cooked and semi-cooked food should become the main engine of growth. The issue of governance for providing security to the economic zones must run high on the agenda of the state.
"Our potential for strategic location has been undermined by disturbances in Balochistan and border areas of KP. It has badly affected Gwadar's potential to serve as the trade gateway from Central Asia to Asean and South African territory. Pakistanis could get rid of the loan culture by building water reservoirs including Diamer Bhasha and Kalabagh Dams. Up to $3 billion could be saved only through the completion of Kalabagh Dam and up to 40 percent of oil import bill could be curtailed if this project is given the go ahead."