Industrialization: First Priority - Way to Economic Haven

By Abid Ali, Syed | Economic Review, September 1993 | Go to article overview
Save to active project

Industrialization: First Priority - Way to Economic Haven


Abid Ali, Syed, Economic Review


Whether Pakistan's salvation lies in an agricultural revolution or industrial advance is more or less a debatable issue, and the correct position is that neither of the two facets is mutually exclusive - in effect the two are complementary. The agricultural growth has its own advantages as far as autarky in foodgrains production is concerned which in turn leads to self-sustenance on a national plane, and is, therefore, desirable. But under the present day conditions when life pattern is complex, even competitive, we have to be on our toes to provide infra-structure and industrial base for our industrial potential to grow and flourish; to enable the nation to bring out its best, and offer the best answer to questions relating to the country's prosperity, territorial integrity and national sovereignty and independence.

So it is that to realise goals of overall national self-sufficiency and economic viability, Pakistan will have to have a major breakthrough in the field of industrialisation - so far Pakistan's record of industrial growth has been haphazard, irregular, and unscientific. But now the trend has to change and development has to be selective, with an eye to specialisation. Emphasis has to be placed on industrialisation which lands boost to our exports, and has the effect of maximising our foreign exchange earnings. All prosperous nations in the world are drawing sustenance through this means e.g. Japan has built up its economy through the export of electronic goods, medium and small sized costs; South Korea, Taiwan, even China and Hongkong, through specialisation in textiles made-ups and, in particular, ready-made and fashion garments, and have had large trade-surplus with countries like the USA Canada and Western Europe, and as such have no balance of payment problems.

As opposed to this, we in Pakistan, as a Cotton-producing country are lagging far behind - our share in world exports is hardly 1.5 per cent; and we are letting the golden opportunity provided to us by Providence to go down the drain. Of course, our fiscal and trade policies are such as tend to place the cart before the horse rather than otherwise. Initially, we are prone to export our agricultural produce, in particular cotton, which is used as an industrial raw material, by other countries who eventually happen to be our competitors in the international trade; at least we export semi-finished goods like yarn, grey cloth etc. to countries like Japan, West Germany and others who convert this into finished goods, with high degree of value-addition, and export the same to outside destinations, and earn handsome amounts of foreign exchange.

So it is that we discourage, as far as possible, export of items in raw and unfinished or semi-finished form. Thirdly, we had better enter into joint-venture deals with intending manufacturers all the world over.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited article

Industrialization: First Priority - Way to Economic Haven
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?