
‘Skilled workers can pave way for industrial revolution'
Addressing a delegation of HEC and ICCI, he said that only skilled workers could pave the way for the industrial revolution and in this connection, we must make collaborative efforts with all concerned stakeholders including industrialists and scholars. He appreciated researchers and faculty members deputed in ORIC and said that industry-academia linkages are imperative to give a kick start to the industrial growth.
He mentioned some leading industrial units which have made tremendous progress after adopting new and innovative technologies. He said that universities should also revisit their syllabus to synchronize it with the market driven needs.
He appreciated the efforts of ICCI to arrange this tour of faculty members drawn from various universities and provide them an opportunity to directly interact with the leading industrial giants of Faisalabad.
He appreciated the decision of HEC to declare internship compulsory for the young graduates but stressed the need for proper legislation at the Government level declaring internship as mandatory.
He said that about 70% of the current syllabus is irrelevant for the industry and it should be revised in consultation with the stakeholders from the concerned industry.
He said that once textile was the only iconic representation of Faisalabad but now it has diversified its industrial portfolio.
'It has state of the art diaper, Hyundai and tile units in addition to many more established with domestic and foreign investment,' he said and underlined the importance of developing indigenous technologies so that we could consolidate the economy after making our defence impregnable.
Dr Habib Aslam Gaba Convener FCCI Standing Committee on Industry Academia Linkages termed leading businessmen as industrial PhD holders which they have gained through their life long struggle and practical experience. He said that the universities should also recognize their expertise in this field and plume them with honorary PhD degrees.
Copyright Business Recorder, 2025
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
19 hours ago
- Business Recorder
Value of Diyat notified at Rs9.83m
ISLAMABAD: The federal government has notified the value of Diyat (compensation in lieu of life) at Rs9.83 million for the financial year 2025-26. According to a notification issued by the Finance Division (Internal Finance Wing) on Monday, the government, in pursuance of sub-section (2) of Section 323 of the Pakistan Penal Code (PPC), has declared Rs9,828,670 as the value of 30,630 grams of silver, which is prescribed as Diyat. Under the PPC, the value of Diyat is re-determined each year based on the market price of silver and is payable to the legal heirs of a victim. For the current fiscal year, the amount stands higher than the previous year reflecting the rise in silver prices. The fixed sum is binding for courts and institutions dealing with cases related to Diyat during fiscal year 2025-26. Copyright Business Recorder, 2025


Business Recorder
19 hours ago
- Business Recorder
MCB Islamic Bank inaugurates Dolmen Mall Branch in Lahore
LAHORE: MCB Islamic Bank inaugurated its new, state-of-the-art branch at Dolmen Mall, Lahore on Pakistan's Independence Day. The branch was inaugurated by Mian Mohammad Mansha - Chairman MCB Bank & Nishat Group, and hosted by Zargham Khan Durrani - President & CEO MCB Islamic Bank. The ceremony was also attended by senior management of MCB Islamic Bank. Strategically located in one of Lahore's busiest lifestyle and retail hubs, the Dolmen Mall branch of MCB Islamic Bank is designed to enhance accessibility and customer convenience. The modern facility blends digital facilities with a welcoming, customer-focused environment, reflecting the Bank's core Islamic banking values. Speaking at the event, Zargham Khan Durrani - President & CEO MCB Islamic Bank said, 'The inauguration of our Dolmen Mall branch marks a significant milestone in our journey, reflecting MCB Islamic Bank's unwavering commitment to national progress, financial inclusion, and the delivery of ethical, modern Islamic banking solutions.' Copyright Business Recorder, 2025


Business Recorder
20 hours ago
- Business Recorder
Import of Iranian scrap: DG Customs Valuation likely to take up matter of revision of values
ISLAMABAD: The Directorate General Customs Valuation Karachi is expected to take up the matter of revision of customs values on the import of Iranian origin scrap, which is imported exclusively via land routes of Taftan, Panjgur, and Gabd. The issue has been taken up by Quetta Chamber of Commerce and Industry (QCCI) President Muhammad Ayub Maryani with the officials of the directorate valuation Karachi. The industry has requested the directorate an urgent review of Valuation Ruling No. 63/2025. New customs values on import of iron & steel scrap fixed According to the sources, the Director General Customs Valuation Karachi will review the request of the industry on realistic assessment of duties and taxes on the import of low quality of Iranian Scrap. According to the QCCI presentation to the directorate, with reference to Valuation Ruling No. 63/2025 dated 08-08-2025, issued after the stakeholder meeting held on July 29, 2025 under section 25A of the Customs Act, 1969, the Quetta Chamber of Commerce & Industry (QCCI) conveyed its gratitude for allowing a deduction of US$ 60/MT on LME-linked customs value for scrap imports through land routes on account of freight. This recognition of freight advantage for land route trade is highly appreciated. However, after carefully further reviewing VR 63/2025, it has been found that the US$ 60/MT deduction does not fully reflect the unique economic realities of Iranian origin scrap, which is imported exclusively via land routes (Taftan, Panjgur, and 250-Gabd) and is not imported through any seaport of Pakistan or elsewhere due to U.S. sanctions. Key Considerations Supporting Urgent Revision of VR 63/2025: a) Lower Quality of Iranian Scrap: 'Iranian and CARs-origin' scrap is generally of lower quality compared to European/US scrap. This factor has historically been recognized in customs valuation through deeper discounts. b) The Sales Tax SRO 170(1)/2008: When customs duty on scrap imports was zero, FBR issued Sales Tax SRO 170(1)/2008 dated 22-02-2008, wherein the assessed value for re-rollable scrap imported via land routes from Iran/Afghanistan was fixed at US$ 275/MT on account of its inferior quality and low freight charges, whereas the value for scrap at sea ports remained US$440/MT at that time. This policy clearly reflected both the lower quality and the cheaper rate of Iranian scrap due to sanctions. c) The Valuation Ruling (VR 1566/2021): A 35 percent discount was accorded to land route scrap imports, which satisfied stakeholders and aligned with market realities. The present deduction of US$ 60/MT is substantially below this benchmark. In light of the above, and under the powers vested in the Director General Valuation under Section 25D of the Customs Act, 1969, the Quetta Chamber of Commerce & Industry requested an urgent review of Valuation Ruling No. 63/2025. The industry urged that a realistic and equitable discount be restored, ideally closer to the precedent of 35% under VR 1566/2021 or at least in line with the historic precedent of 37.5 percent discount reflected in Sales tax SRO 170(1)/2008. Copyright Business Recorder, 2025