President of Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain has said that relocation of Chinese manufacturing units to Pakistan will not only bring industrial revolution in our manufacturing sector but will spread 'made in Pakistan' slogan across the globe.
"Relocating Chinese sunset industries will improve Pakistan's GDP by 10 percent annually; however, it is important to make immediate arrangements to accomplish this relocation," he said, talking to the business community.
Mian Zahid agreed with the notion of federal minister Ahsan Iqbal that with relocation of sunset manufacturing to Pakistan, country's GDP growth rate would boost empowerment of lower-middle class, cover gap between poor and rich classes, which is highly required in Pakistan due to increasing youth population of the country.
"Government must adopt measures to resolve problems faced by industrial sector in order to boost economy and attract more foreign investment for industrial growth of Pakistan," he urged. He noted that infrastructural development undergoing in the country is at the highest level in the history as developing roads, railway networks, industrial parks and special economic zones across the country under CPEC. 17000MW energy will be added to the National grid after completion of undergoing power projects and attract foreign investment while China has become the biggest foreign direct investor in Pakistan.
He said industrial revolution is an important tool for Pakistan's economic growth. He said 30 years back China's per capita income was 30 percent lower than that of Pakistan while today their per capita income is 550 percent higher than Pakistan and it could only be possible due to industrial revolution in China. PBIF president said current government remained economy-friendly throughout its tenure; however, more is needed to do, in this regard.