History is evident that only those nations made a real progress who at one decided to use their indigenous products. The country like China, where it stands now, is only due to this habit of using of indigenous products. And even the countries like India also realize its importance and now implementing this. But we are still far behind in the use of indigenous products.
When we buy anything made by some other country, we are indirectly helping its economy and damaging the economy of our country. This habit of ours is the paramount cause of our economic devastation. And because of this habit of ours, a great amount of foreign exchange gets out of our hand.
Starting from a sewing machine needle to the big machine, from a candy and chocolate to the cereals, we buy everything imported. Suppose if a man spends daily 10 rupees on the imported goods. Then yearly he will spend 3650 rupees. And if we multiply this amount with our total population of 190 million, the result comes out to be 694 billion or 8 billion dollars, which is a huge amount. It means nearly 8 billion of over foreign reserves would be spend upon that. This amount is much greater in the prospect that we have foreign reserves of total 16 billion dollars now days. If we had followed the policy of be Pakistani buy Pakistani our foreign reserves would have been much greater. In order to give example I used 10 rupees per day per person but actually this amount must be greater. This shows that the buying of indigenous products is so much important.
Similarly the people of Pakistan who are living outside Pakistan can also contribute in Pakistan economy, in the way that they should buy the products from Pakistan stores, containing the products made in Pakistan. They can buy Pakistani made clothes and Pakistani food items.
Here the point is that most of the people say that products which are Pakistan made are not of good quality; therefore they have to use imported goods. I agree with them up to certain extant but still people should try to use local products up to the extant where they can compromise their personal interest for the country’s interest. To encourage the people to buy indigenous products government should take steps to help local industry so that they can produce good quality products. And moreover the products which are not made in Pakistan, steps should be taken to set up industries for them.
If local manufactured products are available and they are also of good quality, then the people will automatically buy local products. But in our country government is giving no support to industry. Moreover, Local industry not only provides jobs to the people but also the goods manufactured are of low cost than that of their imported counterparts.
Thus buying of indigenous products and setting of local industry means:-
1. Saving our foreign reserve
2. Creating job opportunities for our public
3. Making our economy better and self-sustainable
4. Increasing the buying capacity of consumer as Cost of local products will be low
In order to reduce independence on imported goods, following measures are recommended:-
1. Standard of locally manufacture goods should be improved so that they meet international standards. In this way people will be less attracted towards foreign goods.
2. Incentives should be provided to the local manufactures to encourage them.
3. High tax should be employed on foreign goods and income generated from that should be subsidized on local goods.
4. Awareness programs should be conducted by using seminars and print media which should tell the importance of the use of indigenous products to the public.