Business

Pakistan’s industry still running on 2nd generation technology

SEC chief calls for adopting state-of-the-art technology, machinery

Our Correspondent March 06, 2018

SEC chief calls for adopting state-of-the-art technology, machinery. PHOTO: REUTERS

ISLAMABAD: State Engineering Corporation (SEC) Chairman Syed Kaukab Mohyuddin has said that industries should adopt latest technology and machinery to catch up with the world in trade and exports and in case of failure they will perish in the race for progress.

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“Domestic industry should focus on its upgrading in order to establish effective joint ventures and partnerships with Chinese counterparts under CPEC (China-Pakistan Economic Corridor),” Mohyuddin said during a visit to the Islamabad Chamber of Commerce and Industry (ICCI).

He pointed out that the industry around the world had adopted fifth generation technology and machinery to grow fast, but the industry in Pakistan was still running on second generation technology due to which the country was lagging behind in industrial development.

Highlighting the role of SEC, he said the corporation was working to promote industrialisation by manufacturing capital goods and heavy machinery through utilising domestic resources and acquisition of state-of-the-art technology. Heavy Electrical Complex, Pakistan Machine Tool Factory, Pakistan Engineering Corporation and Enar Petro-tech Services are working under SEC.

Mohyuddin emphasised that these companies had developed a strong engineering base for the design and manufacturing of a variety of light, medium and heavy engineering products.

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He asked small and medium enterprises (SMEs) and the domestic industry to take benefit of the infrastructure and expertise of these companies in order to improve their productivity. He assured businessmen that SEC, in collaboration with the ICCI, was ready to support the SMEs in upgrading their units so that they could achieve better growth.

Published in The Express Tribune, March 6^th, 2018.

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COMMENTS (2)

Hamza | 6 years ago | Reply What a joke! The business mileu run by the government is so disfavorable to industries who are burdened with over-taxation and indirect charges, a depreciating rupee, a lack of access to basic services exacerbating corruption, little available energy and numerous impediments to growth- and the Chairman tells them they "should upgrade?" As if the idea of growth and sustainability had not occurred to the owners and business industries themselves? Laughable. There needs to be a favorable and confident business environment for companies to invest, reinvest and chart a path for growth in this country, for those conditions guarantee success.

Pakistani | 6 years ago | Reply The industry survive by selling locally and / or on exports. In local market you have to be a badmash to get you money back and if you export you have to wait for rebates. In either case 70% startup business or industries die within an year. You are talking about technology upgrading, I suggest to make payment assurance for local and exporter . Everything is deeply interconnected in business..

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