Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Thursday mentioned increased productivity, quality and innovation (PQI) as the ‘instant solution’ to the economic difficulties faced by the country in the absence of the required investment volume.
“These [PQI] are the basic pillars on which the national competitiveness of any country depends,” he said while addressing the inaugural session of the two-day National Productivity, Quality and Innovation (PQI) Summit-2024.
The summit, titled “Driving Growth through Excellence in Productivity, Quality, and Innovation,” has been organized by the Ministry of Planning, Development and Special Initiatives, with PQI identified as key drivers for achieving sustainable economic growth and enhancing Pakistan’s global competitiveness.
Narrating success stories of developed countries that attained economic prosperity, the Planning minister said they first adopted key drivers of progress: productivity in the 1970s, quality in the 1980s and innovation in the 1990s, all triggered by the ‘knowledge explosion.’ “Competitiveness is not what you do with what you have inherited; competitiveness is all about what you are capable of creating,” Ahsan Iqbal quoted Michael E. Porter, considered the Father of Competitive Strategy.
He regretted that Pakistan was ranked 110th in the National Competitiveness Index out of 140 countries, as reported by the World Economic Forum, adding, “Unfortunately, we stand nowhere.”
The Planning minister stressed the need to improve capabilities and follow international trends and principles “if we want to be included in the leading economies of the world.”
He urged the summit participants to explore ways for all sectors including public, private, industry, agriculture and services to move forward in line with the principles of enhanced PQI.—APP
