How to Revive Pakistan's Textile Industry amidst CPEC?

Pakistan is in the limelight these days due to the advancement in development of CPEC, which is being perceived as a catalyst in the revival of country’s economic stature. CPEC is surely a blessing in a disguise for the country which faced a major setbacks in terms of export depreciation and unanticipated terrorism. Though, looking at the both side of a coin, it would not be unwise to say that , with an open trade for business from China to all the way Gawadar, Pakistan’s businessmen must sharpen the steel and get ready for a huge business war in between the associated countries.

One of the major sector, which has been contributing in the financial stability of Pakistan is a TEXTILE KINGDOM. There was a time when FAISALABAD was taken as a MANCHESTER of Pakistan, and exports trends used to look exponentially upward at the end of each year. Though, the dice is now reciprocating in somewhat other direction. To interpret it in statistical notion, let us cast an eye on the export trend of recent years;

It is clear from an above figure that times are getting tough with the inception of new years. One of the major reason of it, which we gonna discuss in an article, is not embracing CHANGE. For last couple of months, i have been associated with top textile giants in Pakistan. What i have observe , from my experience, is a wave of bemusement is taking over this industrial sectors. Many industrialist are giving it a hit to abandon the textile business while establishing residential plots scheme in the same premises. Amidst of this crisis, production cost is significantly higher than other powers in the world due to less sophisticated processes.

In my recent coaching session with VICE PRESIDENT of renowned industrial group,he acknowledged me about the vague accountability and reluctance to Change mindset. He was of the view, that, neighbor countries are practicing advanced data encryption techniques in their system which is giving them a competitive edge in an industrial market. One of the major sophisticated change management culture, he endorsed is LEAN SIX SIGMA.

It is evident from the case studies that LSS has saved industrial sector a fortune while diminishing the processes wastage& variations from the system. It is far more than the theoretical or bookish abstracts of TQM enforcing the concepts without taking into an account any real time DATA.

Thus, with a  development of CPEC, it would  a great challenge for the Business association of Pakistan to compete with a LION (China) in the same market & strive for gaining a big chunk in the long run. To overcome the challenge, we must gird up our lions and equip our-self with a right tools & techniques of warfare before an actual doomsday arrive.



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