The need for import substitution in Pakistan
The annual imports of Pakistan is twice the annual exports. Localization has become essential because of the depreciation of the PKR against the USD.
Localization is a concept which directly relates to Import Substitution Industrialization (ISI). In order to lessen their reliance on nations with advanced economies, developing countries and nations with emerging markets frequently adhere to the import substitution industrialization (ISI) economic theory. The strategy focuses on safeguarding and nurturing newly established local industries to fully develop sectors and make domestically produced goods competitive with imports.
Localization is a dire need of this hour, Pakistan as an economy has been on the declining slope and import procedures are extremely difficult to go through with. In order for this industry to survive, local manufacturers must be empowered so they can manufacture products as per international standards. This project will also assist organizations in enhancing their production facilities and make them eligible for exporting their goods in to developed countries as per international codes and standards.
SGS Localization Services
Based on our industrial expertise and consultancy services, we have created a cluster to empower local manufacturers to benefit from:
- Enhanced production facility to manufacture products as per international standards to substitute imported products.
- Increased revenue and boosted business development activities.
- Exposure to international markets and export compliance consultancy.
- Less wastage in production processes as a result of QA/QC services identifying areas where waste can be eliminated
- Efficient utilization of available resources to achieve economies of scale.
This cluster combining Industry, Government and Academia will focus on local development, providing Pakistani producers with a one-stop solution while meeting the quality compliance requirements of the entire value chain.
As part of the Localization offering businesses have access to the following SGS services:
- Business process re-engineering
- Design review
- Product testing
- Product certification
- Technical consultancy
- Local advisory and support
- Project monitoring
With a unique global reach, including a strong presence in India and China, highly skilled personnel and unrivalled experience in different industrial sectors, SGS offers efficient turnaround times, based on the lean management practice. In addition, SGS robust information security management ensures that your intellectual property is protected.
About SGS
We are SGS – the world’s leading testing, inspection and certification company. We are recognized as the global benchmark for sustainability, quality and integrity. Our 98,000 employees operate a network of 2,650 offices and laboratories, working together to enable a better, safer and more interconnected world.
