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LAHORE, Aug 24 (APP): Former president of the SAARC Chamber of Commerce and Industry Iftikhar Ali Malik has stressed that in today’s globalized world no country can progress without developing strong industrial foundations focused on competitiveness, innovation, and value-added exports.
In a statement issued here on Sunday, he said sustainable growth and an export-oriented
industrial policy were the need of hour to strengthen the economy and accelerate national
development.
He emphasized that a well-designed strategy would enable industries to diversify
beyond traditional products, enter high-value markets, and boost exports through investment in modern technology, research, and workforce skill development.
He underlined that sustainability must remain central to growth, urging industries to adopt
eco-friendly practices, energy-efficient technologies, and renewable energy solutions to
minimize environmental impact. He said such measures would not only help Pakistan meet
global climate commitments but also make its products more acceptable in environmentally conscious markets while reducing reliance on imported fuel.
Highlighting the economic benefits of prioritizing exports, he noted that this approach could earn valuable foreign exchange, cut trade deficits, and generate millions of jobs. A long-term sustainable industrial policy, he added, must ensure self-reliance, resilience, and inclusive economic growth, positioning Pakistan as a strong global competitor.
He suggested that special economic zones, tax incentives, and ease of doing business
reforms could attract local and foreign investors to establish export-driven industries.
He further emphasized the need to facilitate small and medium enterprises (SMEs) to
integrate into global supply chains, thereby increasing export volumes and reducing
dependency on imports.
He urged the government, private sector, and academia to collaborate in formulating
policies that foster innovation, enhance productivity, and strengthen competitiveness.