The Centre for Strategic Perspectives (CSP) at the Institute of Strategic Studies Islamabad (ISSI) organised a webinar titled “Make in Pakistan: Pakistan’s New Industrial Policy,” on September 9, 2021. Dr Salman Shah, Advisor to CM Punjab, was the keynote speaker on the occasion. Other speakers for the webinar included Mr Humayun Akhtar Khan, Chairman & CEO, Board of Institute for Policy Reforms, Dr Usman W. Chohan, Director for Economics & National Affairs at Centre for Aerospace & Security Studies (CASS) and Ms Nazish Afraz, Adjunct Faculty at the Department of Economics at the Lahore University of Management Sciences (LUMS). Malik Qasim Mustafa, Director CSP/ACDC at the ISSI, moderated the Talk.
Introductory Remarks by Malik Qasim Mustafa Director CSP/ACDC-ISSI
Malik Qasim Mustafa, Director CSP/ACDC, in his introductory remarks said that the contribution of the manufacturing sector in Pakistan’s GDP has gradually declined. In 2005, the GDP share of the manufacturing sector was 17.5 per cent, which was reduced to 12.1 per cent in 2018. This decline has also reduced Pakistan’s share in the world exports, whereas, over these years the share of exports of other countries increased tremendously.
Over the years multiple factors have contributed to this decline or induced de-industrialisation trend, for example, the inappropriate burden of taxes on industry, under-invoicing, poorly negotiated trade agreements, heavy input costs, increase imports and many other related factors have impacted the industry’s ability to build and compete in the global market.