Pakistan urged to emulate China's industrial transformation

China's 'Made in China 2025' initiative has been a game-changer in revamping its manufacturing sector and fostering technological progress. This strategic move aimed to reduce reliance on foreign technology imports, enhancing self-dependence and global competitiveness. Pakistan, facing economic challenges due to high trade deficits, can learn valuable lessons from China's model to boost its industrial performance.

Pakistan's declining exports have led to a widening trade deficit, with export contribution to GDP dropping from 16 to 10 percent over two decades. The country's poor export performance is attributed to conventional products with no value addition and a lack of potential in high revenue-generating sectors like machinery and chemicals.

China's focus on investing in research and development, fostering innovation, and creating a conducive environment for entrepreneurship can serve as a blueprint for Pakistan. Emphasizing education in STEM fields, establishing public-private partnerships, and adopting a 'one city, one case' approach can accelerate Pakistan's industrial growth.

Special Economic Zones and innovation centres tailored to local resources could drive industrial development in cities like Faisalabad and Karachi. Prioritizing skill development and aligning training programmes with industrial needs are crucial steps for Pakistan to enhance its workforce and technological capabilities.

By adapting China's successful strategies and investing in critical sectors, Pakistan can pave the way for a more competitive and sustainable industrial future. While the journey may be long, proactive measures today can set Pakistan on the path towards industrial excellence.