Causes of industrial backwardness in Pakistan
The causes of industrial backwardness in Pakistan are of different types and natures, but these problems can be solved with the sincere efforts of governments.
The following measures are suggested to remove the causes of industrial backwardness.
SME, promotion
Optimum diversification
Labor-intensive industries
Tax concessions
Industrial cities
Peaceful environment
National saving promotion
Optimum credit facility
Foreign investment promotion
SME’s Promotion
Our country is a developing country, and we should establish small and medium enterprises instead of large-scale industries because we have less finance to run large scale industries.
Optimum diversification
We should establish every type of industry in every line so that we will be able to produce every product in our country, and in this way we can minimize inputs.
Labor-intensive industries
Our country should establish labor-intensive industries instead of capital intensive industries because we have cheap labor and washortage of capital.
Use foreign Aid
Government should obtain maximum foreign aid to compensate for the low rate of saving so that maximum investment can take place in the country.
Tax concessions
The government should charge minimum taxes from industrialists so that they may not be discouraged, and maximum tax concessions should be given to businessmen.
Industrial cities and zones
The government should establish maximum industrial cities and zones where every facility should e provided to industrialists easily and at low rates.
Offer peaceful environment
Government should maintain law and order in country so that security of life and property will be given to business and they will feel comfortable and will be ready to invest in country.
National Saving Promotion
Government should promote saving culture in the country by introducing different attractive schemes to public of country.
Foreign Investment Promotion
Government should attract foreign investment by giving maximum facilities to foreign investors. In this way deficiency of investment can be made up.
Conclusion
It the above steps are taken by the government sincerely and at proper time and with full commitment. Maximum problems of industrial sector will be solved..
