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Pakistan Industrialization

ghazi52

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PM Imran announces industrial package with eyes on foreign exchange inflow

  • Says government's priority is to promote export-oriented industries
BR
01 Mar, 2022


Prime Minister Imran Khan announced the industrial package on Tuesday, adding that without enhancing the manufacturing base, Pakistan cannot progress, a statement that comes a day after he unveiled a number of measures to tame rising inflation, and boost economic productivity in the country.

In his address in Lahore, Khan said, “I should have announced an industrial package for the business community at the beginning of my government (in 2018).

“No country can achieve prosperity and growth (just) by selling vegetables and wheat — countries move ahead through industrialisation. The sophistication of industries enhance the wealth of the country,” he added.

The PM said that his government's priority was to promote export-oriented units. “However, we should not have given an open amnesty scheme announced earlier, it should have been directed towards industries.

Industrial policy

While giving details of the package, Khan said that it has two aspects. “Firstly, capital is not being utilised in productive activities. We are focusing on small- and medium-sized industrial units, reducing regulations and facilitating them.

“Secondly, sick industries have also been given incentives to achieve industrial growth,” the PM said.
Khan added that the government would give overseas Pakistanis a five-year tax holiday for investing in Pakistan. “If they do a joint venture with a local company, they would still be given a five-year tax holiday, as we want to attract capital from abroad,” he added.

“The country would take off industrially only when overseas Pakistanis bring their capital and invest in Pakistan. The overseas community has the capital and skills, they only need confidence and incentives."..


I should have announced an industrial package for the business community at the beginning of my government's tenure: Prime Minister Imran Khan


Meanwhile, the PM said that exports of the country’s IT sector, which was also among the ones being incentivised, have grown by 70%, but it remains far below its potential.

“The reason behind it was we didn’t give incentives to our freelancers and IT companies. The IT industry is different from others; this is the first time that complete incentives have been given to both companies and freelancers.”

Apart from giving incentives to the IT sector, Khan said that work needs to be done by conducting boot camps for IT professionals and changing the syllabus at the university level.

“Our biggest mistake was that we never focused on increasing our exports. A country which does not have a robust export base cannot move ahead,” he said.

Earlier, Federal Minister for Industries and Production Khusro Bakhtyar said that the industrial package would boost economic activity in the country.

“In order to achieve economic freedom and sustainable growth, Pakistan needs to enhance its manufacturing base to 25% of the GDP, which at present stands at 13%,” he said.


PM relief package

The announcement comes a day after Prime Minister Imran Khan announced to reduce petroleum products’ prices by Rs10 per litre and electricity tariff by Rs5 per unit.

In a televised address to the nation on Monday, the PM said he received a summary from OGRA for an increase in petrol price by Rs10 per litre, and instead of increasing it, the government decided to reduce oil prices by Rs10 per litre.

Similarly, the premier said that the government has decided to reduce electricity tariff by Rs5 per unit, which means the electricity bill would be reduced by 20-25%.

He said that the government had decided not to increase prices of oil and electricity till the next budget. He added that subsequent to Ukraine war, the prospect of a decrease in oil prices is not expected....
 
The Quaid-e-Azam would be proud to see what Pakistan has become. It has come a long way since 1947.
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for a country that had no industrial base, surrounded by enemies, and had been sanctions again and again, we have come a long way. there is always a silver lining.
But we can do much better, we need to raise our standards just like the Chinese people. China has come so far but its people still aren't satisfied, this drive makes them the greatest public on this planet.
 
But we can do much better, we need to raise our standards just like the Chinese people. China has come so far but its people still aren't satisfied, this drive makes them the greatest public on this planet.
of course, no one is denying that
 
.......
Pakistan Bureau of Statistics reported that Large Scale Manufacturing Industries (LSMI) production grew by 7.6 per cent during the first seven months of the current fiscal year as compared to the corresponding period of last year.

The growth of LSM in January 2022 recorded 8.2 per cent over the corresponding month of the last year and 4.2 per cent over the previous month, showing a healthy performance in almost all categories.

The calculation of data during July-January 2021-22, was made while taking the financial year 2015/16 as the base year.

During July-January 2021-22, production of products that increased include food, tobacco, textile, wearing apparel, chemicals, iron and steel products, automobiles and furniture while production of fertilizer, pharmaceuticals, rubber products, and electrical equipment decreased over the same period of last year.

Provincial bureau of statistics, counting production of 65 products, recorded 9.7 per cent growth in July-Jan 2021-22 over the corresponding period of FY21. In January 2022, its output increased 9.3 per cent over the corresponding month, while its production reduced by 1.7 per cent over the previous month.

The Ministry of Industries, which included at least 36 items for measuring the growth, recorded a 6.9 per cent growth in production during these seven months of FY22. In January 2022, it grew by 8.5 per cent over the corresponding month and 7.8 per cent over December 2021.

Oil Companies Advisory Council (OCAC), logging outputs of 11 oil and petroleum products, measured growth of 0.5 per cent year-over-year in outputs in July-Jan FY22. In January 2022, it, however, declined by 1 per cent over the same month of last year and 10.7 per cent positive growth over the previous month.

During July-Jan FY22, the food sector grew 3.4 per cent, beverages 2.5 per cent, tobacco 21.9 per cent, textiles 2.9 per cent, wearing apparels 18.3 per cent, leather products 4.5 per cent, wood products 172.2 per cent, paper and board 8.2 per cent, coke and petroleum products 0.5 per cent, chemical products 15.5 per cent, iron & steel products 17.5 per cent, machinery & equipment 20.6 per cent, automobiles 63.5 per cent, furniture 553 per cent and other manufacturing (football) 22.2 per cent over the same period of last year.

However, fertilizer production declined 0.5 per cent, fabricated metal minus 5.5 per cent, and computer, electronics, and Optical products reduced by 1.1 per cent. Besides, pharmaceuticals output also decreased by 3.5 per cent, rubber products 25.5 per cent, and electronics production down by 1.2 per cent.
.....
 
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PM Imran announces industrial package with eyes on foreign exchange inflow

  • Says government's priority is to promote export-oriented industries
BR
01 Mar, 2022


Prime Minister Imran Khan announced the industrial package on Tuesday, adding that without enhancing the manufacturing base, Pakistan cannot progress, a statement that comes a day after he unveiled a number of measures to tame rising inflation, and boost economic productivity in the country.

In his address in Lahore, Khan said, “I should have announced an industrial package for the business community at the beginning of my government (in 2018).

“No country can achieve prosperity and growth (just) by selling vegetables and wheat — countries move ahead through industrialisation. The sophistication of industries enhance the wealth of the country,” he added.

The PM said that his government's priority was to promote export-oriented units. “However, we should not have given an open amnesty scheme announced earlier, it should have been directed towards industries.

Industrial policy

While giving details of the package, Khan said that it has two aspects. “Firstly, capital is not being utilised in productive activities. We are focusing on small- and medium-sized industrial units, reducing regulations and facilitating them.

“Secondly, sick industries have also been given incentives to achieve industrial growth,” the PM said.
Khan added that the government would give overseas Pakistanis a five-year tax holiday for investing in Pakistan. “If they do a joint venture with a local company, they would still be given a five-year tax holiday, as we want to attract capital from abroad,” he added.

“The country would take off industrially only when overseas Pakistanis bring their capital and invest in Pakistan. The overseas community has the capital and skills, they only need confidence and incentives."..





Meanwhile, the PM said that exports of the country’s IT sector, which was also among the ones being incentivised, have grown by 70%, but it remains far below its potential.

“The reason behind it was we didn’t give incentives to our freelancers and IT companies. The IT industry is different from others; this is the first time that complete incentives have been given to both companies and freelancers.”

Apart from giving incentives to the IT sector, Khan said that work needs to be done by conducting boot camps for IT professionals and changing the syllabus at the university level.

“Our biggest mistake was that we never focused on increasing our exports. A country which does not have a robust export base cannot move ahead,” he said.

Earlier, Federal Minister for Industries and Production Khusro Bakhtyar said that the industrial package would boost economic activity in the country.

“In order to achieve economic freedom and sustainable growth, Pakistan needs to enhance its manufacturing base to 25% of the GDP, which at present stands at 13%,” he said.


PM relief package

The announcement comes a day after Prime Minister Imran Khan announced to reduce petroleum products’ prices by Rs10 per litre and electricity tariff by Rs5 per unit.

In a televised address to the nation on Monday, the PM said he received a summary from OGRA for an increase in petrol price by Rs10 per litre, and instead of increasing it, the government decided to reduce oil prices by Rs10 per litre.

Similarly, the premier said that the government has decided to reduce electricity tariff by Rs5 per unit, which means the electricity bill would be reduced by 20-25%.

He said that the government had decided not to increase prices of oil and electricity till the next budget. He added that subsequent to Ukraine war, the prospect of a decrease in oil prices is not expected....
Bribing the nation, wouldn't have believed it; all we need IK to do is provide roti , kapra, pani and Makan and he will be the best PM in Pakistan's history.
 
,.,.
The growth momentum in big industries remained robust in February 2022- the second last month of Pakistan Tehreek-e-Insaf (PTI) government - as industries recorded 8.6% growth despite headwinds that could slow the pace.
🇵🇰

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Pakistan’s economy created 5.5 million jobs during the past three years on an average 1.84 million jobs a year, which is far higher than yearly average of creation of new jobs during the 2008-18 decade, reveals findings of Labor Force Survey (LFS) published by the Pakistan Bureau of Statistics (PBS).

During 2018-23, on an average 1.84 million jobs a year were created –far better than the yearly average recorded during the Pakistan Muslim League Nawaz and the PPP governments, according to the survey’s findings.

During the five year of the PPP (2008-13), about 6.9 million jobs had been created with a yearly average of 1.4 million. Compared to this, during the PML-N 2013-18’s tenure, about 5.7 million jobs had been created with an average of 1.14 million a year.

The Planning Ministry and the PBS have not yet officially released the survey yet but the survey findings were endorsed on Wednesday by a technical committee, comprising official and independent experts, according to the officials of the Ministry of Planning and Development. The PBS covered 6,808 enumeration blocks and 99,904 households for the survey purposes.
 
.,.,.,.,.
Pakistan’s economy created 5.5 million jobs during the past three years on an average 1.84 million jobs a year, which is far higher than yearly average of creation of new jobs during the 2008-18 decade, reveals findings of Labor Force Survey (LFS) published by the Pakistan Bureau of Statistics (PBS).

During 2018-23, on an average 1.84 million jobs a year were created –far better than the yearly average recorded during the Pakistan Muslim League Nawaz and the PPP governments, according to the survey’s findings.

During the five year of the PPP (2008-13), about 6.9 million jobs had been created with a yearly average of 1.4 million. Compared to this, during the PML-N 2013-18’s tenure, about 5.7 million jobs had been created with an average of 1.14 million a year.

The Planning Ministry and the PBS have not yet officially released the survey yet but the survey findings were endorsed on Wednesday by a technical committee, comprising official and independent experts, according to the officials of the Ministry of Planning and Development. The PBS covered 6,808 enumeration blocks and 99,904 households for the survey purposes.
Education and training go hand in hand with industrialisation and manufacturing. We must also focus on tools and knowledge industries : computer based simulation and training, computer science (Artificial intelligence, image processing, algorithm mathematics), super computers, electronics devices, electron microscopes and radio telescopes, high res cameras, etc
 
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Ok

Hopefully, CPEC helps to boost Pakistan's economy

By increasing exports

And developing Pakistan's industrial sector
 
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