Pakistan's Next Industrial Revolution: The Case of Industrial Estates in Hazara Region
Objective: This research paper aims to identify the major hurdles in the industrial development of Pakistan. Hazara division being located on China Pakistan Economic Corridor (CPEC) route is one of the important hubs and is, therefore, the universe of this study.
Method: The relevant data needed for the research was collected from Abbottabad and Haripur industrial estates using snowball sampling. An in-depth personal interview with seven industrialists in the targeted area was conducted to get an insight into the underlying causes of industrial sickness. Interviews were recorded using smart phones, were then transcribed and analyzed. The themes were deducted after listening to the recording multiple times.
Result: The themes we deduced from the interviews were Location Disadvantage and Supply Chain disruptions, Technological backwardness and low-skilled workforce, Complicated System of Taxes, Inefficient and unhelpful governmental policies, power shortage, and Threats from Cheap Chinese Goods.
Conclusion: Based on the findings of this research it is concluded that the government needs to revise its policy making it more supportive for industrial development. Concrete power supply policy and preparing skilled laborers will enhance industrial development. Similarly, the industry needs to adopt a proactive policy and introduce a collective solution rather than working individually as a unit. A university-industry collaboration is needed to be developed for ensuring the technical and skilled workforce as well as keeping in pace with the advanced countries.