China has out-classed all previous industrial giants, Pakistani business leader

Faisalabad: China has out-classed all the previous industrial giants and now all leading companies across the globe have shifted their manufacturing towards China, a senior Pakistani business leader said.

Fasihul Karim Siddiqui, Special Advisor to the Employers Federation of Pakistan (EFP), mentioned that China had won the industrial race.

Addressing an awareness session at the Faisalabad Chamber of Commerce and Industry (FCCI), he remarked that in the current phase, China had out-classed the all-previous industrial giants. He negated the myth of cheap Chinese labour and stressed that it was not true.

“The reason for enhanced productivity is the result of multipurpose skills of the Chinese labour coupled with their innovative capabilities,” Fasihul Karim Siddiqui emphasized.

He noted that in Pakistan there was no standardized evaluation of workers but the EFP, in collaboration with Technical Education and Vocational Training Authority (TEVTA) and other organizations concerned, evaluated and classified the labor skills into 1-6 levels.

Siddiqui believed that it would help employers to know that his labor was falling in which level and now he would have to make arrangements to upgrade it to the next level by providing them appropriate training which would also enhance the quality and productivity of his unit.

He announced that the EFP will set up a special help desk at the FCCI to remain in touch with the local entrepreneurs. Siddiqui advised that maximum employers should get the membership of EFP so that their problems could be resolved at the national level.

Appreciating the entrepreneurial skills of the businesspersons, he contended that they had explicitly displayed their inherent qualities by raising business empires but they must focus on innovation to remain market leader in the coming decades.

Quoting an example, he reminded that a few decades ago, out of ten top companies, eight were from America but Japan broke its industrial dominance. “Now China is the leader,” he stated.

Earlier, FCCI President Atif Munir Sheikh said that country’s businessmen were blessed with leadership qualities and they must further harness their skills so that they could compete at the global level. He appreciated the efforts of colleagues Dr Khurram Tariq and Shahid Ahmad Sheikh for giving positive and productive inputs.