United Business Group’s (UBG) Central Chairman Iftikhar Ali Malik Saturday said ‘Made-in-Pakistan’ products should be promoted and made a buzzword to strengthen manufacturing sector.
Talking to a delegation comprising local traders led by Mian Aftab Zia here, he said all efforts should be mainly focused to make this slogan a reality. Unless and until manufacturing sector and exports are strengthened, economy would not be able to achieve high growth rate,” says a press release issued here Saturday.
He said Pakistan needed export-driven growth strategy. “Even the United States cannot run without exports. Malaysia, Thailand and Bangladesh are flourishing through their exports,” he added.
Iftikhar Malik also urged Pakistani entrepreneurs to develop on top priority international standard brands to capture global markets in wake of pandemic of coronavirus besides earning more foreign exchange for the country.
He said it was high time for Pakistani entrepreneurs, corporate sector, especially younger business magnates, to concentrate on developing brands. He said vertical integration and institutional network were to be strengthened on modern scientific lines to meet the future challenges of global marketing.
He said private sector had to come forward to develop their own brands on war footings for their survival otherwise the neighbouring countries would continue to sweep international markets.
He said Pakistan was producing some of the best products in the world in sports, textile, fruits, vegetables, handicrafts and in several other sectors but not exporting them under its own brands.
Iftikhar Malik urged the government to conduct market research in an attempt to search new export destinations for Pakistani products in wake of pandemic of corona virus, which were considered the best in the world as far as quality and prices were concerned.
“Pakistani missions abroad should be duty bound to introduce Pakistani products there and ensure dissemination of trade-related information so that local entrepreneurs could avail trade opportunities to the maximum,” he said.
Iftikhar Malik said the government would have to introduce “Knowledge & Research” culture in all sectors of economy including energy. He said that promotion of research in energy sector would suggest best solution of power shortfall being experienced by the country since long.
He said developed countries were researching and finding out new ways of power generation while we were playing the role of silent spectators. “Only public-private partnership could make a big breakthrough in the field of “Knowledge & Research” therefore government should take business community on board at all economic matters”, he demanded.
He said the good thing was that the incumbent government under the dynamic leadership of Prime Minister Imran Khan has full potential and firm commitment to drive the country out of present economic crunch created due to coronavirus outbreak.
Iftikhar Malik is of the view that no one is questioning integrity and sincerity of Prime Minster Imran Khan and that is the reason that the business community of the country has full confidence in Imran’s leadership qualities.—APP