Industrialization has been a key to economic growth of the developed world, but unfortunately growth of Industrial Sector in Pakistan has not shown a significant rise in the recent past.
In case of Sindh, while acknowledging the fact that Sindh has historically provided a large Industrial base of the country, it may however be noted with concern that the past decades have shown a consistent declining trend in the Industrial Growth of the province.
A number of factors have been the cause of the declining trend, and some of the broad side issues of the Industrial Sector are listed below:
- Instability including Law & Order Situation
- Inconsistency of Political and Economic Policies
- Serious Energy Issues, Power Shortages
- Inadequate Infrastructure
- High Costs of Production
- Lack of Investments
- Labor Unrest
- Under-utilization of capacity
- Concentration of Economic Power
- Consumption Trends
- Performance of Public Sector
The current state of Industrial Growth triggers a need of developing an Industrial Development Strategy to install Sustainable Industrial Growth in the province of Sindh. The main objective of the strategy would be to achieve an optimum utilization of the province’s human and material resources for Sustainable Industrial Growth, to significantly improve the province’s economic base and to create new jobs and better employment opportunities. With the commencement of CPEC, the concept of floating factories is to be realized and need to be cashed for the benefit of the province and country.