Promoting industrialisation for progress

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With a population of 130 million, Pakistan has emerged as the state having most rapid population growth in the world. Though it has approximately 27 per cent arable lands with agriculture having a major contribution to the national economy, yet it is not in a position to fully tap the potential of the agriculture yields as well as various industrial sectors. According to a study, as many as 35 industrial sectors are directly or indirectly associated with the agriculture sector in Pakistan. The country is relatively good at product marketing, however, has been confronted with the difficulty in sustained development, all its electric power, highways, communication system, housing and traffic are in sustained development, and all its electric power, highways, communication system, housing and traffic are in a state of insufficiency. The industrial output value accounts for about 25 per cent of the GDP with the textile and other light industries playing a leading role in addition to cotton textile industry being the largest industrial sector. Enterprises sector is considered the backbone of national economic fabric as it not only contributes a lot in strengthening countrys progress as well as it turns out to be a major source of earning foreign exchange through exports to the outer world. However, the privatization policies of successive governments towards enterprises have gravely impacted the overall growth of this sector. Having a glance over the industrial growth in Pakistans neighbouring states especially India and China, and even Bangladesh, establishes the fact that effective policies had a major role behind the sustainability of their national industrial growth. Though the critical energy sector has been termed a major bottleneck in the slow industrialization in the country, yet this also relatively needs a serious approach to overcome the energy shortfall. We have a lot of examples across the world, where governments had successfully explored alternative energy options and are now running their industrial sectors with this energy. This is also a fact that political stability as well as law and order are considered critical problems, but at least we have to take some initiative at some level to express our national seriousness towards industrial sector. Energy provides oxygen to industry and the authorities need to focus on overcoming the energy shortfall so that industrial growth is ensured at a sustained pace. Taking along the private sector, which has a wider vision to national growth, could be a potential way out to revive as well as promote industrialization, as the more industrialization, the more economic stability.


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Published in: Volume 05 Issue 47

Short Link: http://www.technologytimes.pk/?p=12455