FAISALABAD: The China-Pakistan Economic Corridor (CPEC) has provided an opportunity to Pakistani companies, particularly in the Faisalabad region, to reconfigure their operations and re-strategise their product-based competencies to be able to serve national and global markets in a better position, said University of Cambridge Institute for Manufacturing (IfM) Industrial Associate Dr Arsalan Ghani.
He was speaking to a delegation of the Faisalabad Chamber of Commerce and Industry (FCCI), which visited the University of Cambridge, led by FCCI Standing Committee on CPEC Chairman Ahmad Hassan.
He was of the view that companies that had transformed their business by incorporating latest technologies and business models would not only grow but would also contribute positively to the national exchequer.
Ghani stressed that either companies could continue traditional practices of low-quality manufacturing or could step up and benefit from advanced manufacturing strategies to proactively transform their business and be globally competitive.
Talking about IfM, he said knowledge outputs including those on advanced technologies and latest manufacturing processes were disseminated through a dedicated university-industry platform within the IfM.
“The institute has been working for over 50 years with leading organisations in all sectors including food and agriculture, automotive, aerospace, textile, chemical, pharmaceutical, defence, banking and finance, ICT and many more,” he said. “It is particularly helping smaller manufacturers achieve objectives by working with them directly and providing support.”
He added that IfM had developed a set of fast and effective workshop-based frameworks and intervention support tools, which had been used with more than a thousand organisations over the years, leading them to a sustainable growth path.
During the meeting, it was felt that in the changing national and international environment, company executives and senior management within Faisalabad and surrounding areas had to be equipped with knowledge of latest international practices in manufacturing and services. Speaking on the occasion, Hassan said there were around 7,000 small and medium-sized enterprises (SMEs) and large companies linked to the FCCI.
Speaking about the chamber, he highlighted that it was a platform which had an essential duty to provide valuable services to its members, who often faced challenges due to changing economic and political environment in the country.
Hassan stated that the FCCI was planning to enhance its portfolio and incorporate international perspectives for its members so that they could transform their business according to best global practices.