Speakers at a workshop have stressed the need for increasing the productivity of the industrial sector in Pakistan to reduce the current account deficit, WealthPK reports. The workshop was organised by the National Productivity Organisation (NPO) in collaboration with Asian Productivity Organisation (APO), Japan, at a local hotel. The speakers said that productivity-led economic growth is vital for Pakistan. Research and development and technology as well as skilled workers are extremely important to increase economic productivity.

The workshop titled “APO Vision 2025, Inclusive, Innovation-Led Productivity Growth in the Asia-Pacific” was addressed by various experts and officials. They said that it is difficult to reduce the current account deficit without increasing export and foreign investment. It is necessary to enhance productivity and output of the industrial sector to increase export and attract foreign investment.

The speakers said that technology and manpower could play an important role in increasing the productivity of the country. Cooperation between NPO and Sarhad Chamber of Commerce and Industry is important to enhance the productivity of the industrial sector.

They said that all sectors could be developed through innovation and modern research. There was a need to extend information technology to more sectors in the country to increase productivity. The speakers said that smart ideas could increase economic opportunities in the country. The automation of public and private sectors in the country is necessary for economic productivity and innovation.

Speaking on the occasion, Dr Ali Sajid, an expert, said that industrial and agricultural productivity is very important to strengthen the national economy. “Economic productivity is the main driver of sustainable development. The productive culture in the country needs to acquire a productive capacity in the industrial sector which must be worked on by the NPO,” he said.

Dr Ali said that close linkages between academia and industry are a must to increase innovation and productivity. Political stability is also a result of economic development. “There is no concept of productivity without quality, therefore industrial and agricultural quality is essential. Countries make progress through innovation,” he added. He said that several regional countries developed agriculture through innovation and productivity. The economic development of South Korea, Japan and Vietnam was a result of innovation and productivity.

Addressing the workshop, NPO General Manager Wajih Ahmed Abbasi said that the organisation is working on introducing a culture of productivity in the country. “We are currently working on a productivity drive. The role of chambers of commerce and industry, schools, colleges and universities is important in this regard. The private sector of the country is cooperating with us and we are also working on the future vision,” he added. He said that NPO is working on Productivity Vision 2025 to increase industrial efficiency in the country.

Credit : Independent News Pakistan-WealthPk