Heading : industry of Pakistan.
Industrial sector of Pakistan accounts for about 24% of GDP. Cotton textile production and apparel manufacturing are Pakistan s largest industries, accounting for about 66% of the merchandise exports and almost 40% of the employed labor force.
Hence, industrial sector is one of the main pillars of Pakistan s economy. The manufacturing sector of Pakistan, output, and exports. These include among others lack diversification, allocative, technical, poor quality of products, and low levels of R&DA Activities resulting in slow growth rates of productivity making Pakistani products uncompetitive in the world market. However, industrial sector is one of the main pillars of Pakistan s economy.
: policy overview.
Soon after partition, the first industrial estate was established beyond lyari karachi at the present sindh industrial trading Estate (SITE) Karachi.
To augment the pace of industrialization, the shipyard and Engineering works was created to cater the needs of engineering material, plant and equipment.
The Pakistan council of scientific and industrial research (PCSIR) was created in 195 to develop technologies for utilization of indigenous resources.
The Pakistan industrial development corporations was created almost simultaneously to serve as the recipient of technologies in heavy industries such as cement and in those for which private investment may feel shy.
Government set up small industries corporation in 1972.
Banks and financial institutions have played a major role in assisting industrialization in the country. The development financial institutions have played an important role in growth of industry despite tough competition in the international market. Government had also set up such institutions to cater the needs and demands of industry. For example, PICIC, ADBP and RDFC. Similarly, a micro credit bank has been set up named khushhali Bank.
The government has reorganized SMEDA(small medium Enterprises development Authority) to provide technical assistance to potential small investors.
The manufacturing sector continued to gain momentum by witnessing 6.24% growth on the bank of stellar performance of LSM sector during the first eight months of the current fiscal year as it touched 6.13 % which are the highest in last 11 years. The industrial sector maintained its upward growth trajectory at 5.8% which is the highest in last 10 years.