The government is making thorough efforts to revive the manufacturing sector of the country because it is necessary for strengthening the national economy, said Federal Minister for Science and Technology Chaudhry Fawad Hussain.
Addressing the inaugural ceremony of the Lahore Chamber of Commerce and Industry (LCCI) app for apple IOS and its upgraded website on Saturday, he pointed out that manufacturing activities produced scores of positive results including creation of new job opportunities.
“Pakistan imported medical equipment during the first wave of Covid-19, however, it is now one of 18 countries in the world, that is manufacturing ventilators,” he said.
“It is important to keep an eye on technological advancements besides observing which businesses have a good scope in the market and which are getting obsolete.”
He was of the view that 5G technology would bring about a massive revolution and the country needed stable internet to benefit from technological advancements.
The minister stressed that the country’s future was linked with technology and underlined that merger of technology and biotechnology was vital.
Hussain highlighted that cannabis was an alternative to cotton and its production would immensely benefit Pakistan’s economy.
“Farms for cannabis production are being established in Jhelum, Peshawar, Chakwal and Islamabad,” he said.
The minister remarked that Pakistan had one of the most lucrative automobile policies for electric vehicles.
“In the next three years, electric vehicles will enjoy a significant market share in the main cities of Pakistan and they will definitely help reduce environmental pollution,” he hoped.
He announced that a leading global company would soon establish a manufacturing sector plant for dialysis equipment in Pakistan.
He lamented that in the past, power generation plants were set up without prior planning and as a result, the government was paying half the price of electricity even after the hike in power tariff.
Originally published at The express tribune