(20 April, 2018)
President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain on Friday said 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. Chinese economist professor Justin Yifu Lin said Dying Chinese industries can be a tool to achieve targets of growing GDP, increased employment opportunities and will play significant role in eradicating poverty from the Country.
Mian Zahid Hussain agreed with Ahsan Iqbal’s the Federal Minister for interior and planning that with relocation of sunset manufacturing concerns to Pakistan, Country GDP growth rate will boost empowering lower middle class, covering the gap between poor and rich classes, which is highly required in Pakistan due to increasing youth population of the Country. Government should take measures to resolve problems faced by industrial sector in order to boost the economy of the Country and to attract more foreign investment for Industrial growth of Pakistan.
The veteran business leader while talking to the business community said the infrastructural development undergoing in the Country is at the highest level in the history of the Country, developing roads, railway networks, industrial parks and special economic zones across the Country under CPEC. 17000 MW energy will be added to the National grid after completion of undergoing power projects and attracting foreign investment in the Country while China has become the biggest foreign direct investor in Pakistan.
The former minister said industrial revolution is the important tool to focus for Pakistan’s economic growth. 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 possible due to industrial revolution in China. 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. The current government had been economy friendly throughout its tenure; however more to do in this regard, for which we request the concerned authorities to take immediate measures.