By Ayesha Mudassar

ISLAMABAD, July 25: Experts believe that Pakistan's industrial sector must be brought in line with global competitive trends through promoting academia-industry linkages and introducing innovative technologies to gain competitiveness in the world market.

Talking to WealthPK, Raza Abbas Shah, Chief Executive Officer of Engineering Development Board (EDB), said the Pakistani industry would have to implement the innovative, cutting-edge technologies and research development, whose application is increasing worldwide, to gain acceptance and competitiveness in the global markets.

Mahmood Khalid, a senior research economist at the Pakistan Institute of Development Economics (PIDE), told WealthPK that the collaboration between academia and industry has boosted knowledge and innovation and played an integral part in the economic growth of developed countries.

However, he said that the industry-academia linkage is not encouraging in Pakistan. “There is a huge gap between the knowledge produced and the knowledge required by the industry.”

The PIDE research economist maintained that academia-industry cooperation could help better design curriculum, channelise research activities and promote entrepreneurship education.

“Collaboration promotes innovation that leads to generation of new products and technologies. Funds should be allocated for upgrading industrial processes and adopting new technologies,” he maintained.

According to research economists, the education sector needs to be streamlined based on modern trends and objectives. Degrees need to be offered in a wide variety of fields, including agricultural technology, electrical engineering, furniture production, home-made embroidery, and communication skills.

Industry plays a significant role in a country’s economic development, so all-out efforts should be made to improve it for the economy's development, they stress.

By developing clear policies to assist technology up-gradation and enhancing industry-academia collaboration, Pakistan can produce a skilled labour force and competitive industrial goods in the coming years. Economic experts emphasise that academia and industry should identify the factors responsible for hindering competitiveness and remove them to substantially enhance growth potential.

Credits: INP-WealthPk