ISLAMABAD, Jan 8: The local industry is finding it difficult to compete in the international market due to high cost of production. This concern was expressed at a day-long consultative workshop titled "Globalization , WTO and Pakistan's Trade & Industry: Opportunities & Challenges" organized by the Institute of Policy Studies, Gujrat, in collaboration with Gujrat Chamber of Commerce and Industry (GCCI) and Pakistan National Accreditation Council (PNAC) here on Thursday.

The event included an overview of globalization, WTO agreements and their impact on Pakistan. The deliberations concentrated on issues and causes jeopardising Pakistan's survival in the international market.

Utility charges, which were unbelievably high, and taxes on raw material were some of the problem areas identified by the participants. They suggested that the government should minimise these costs if Pakistan were to capture the greater market share and give its competitors a tough time.

During the workshop, globalization was labelled as a double- edged sword that had benefits and specially challenges, for which Pakistan was not ready at all.

The panel of speakers included Executive Director IPS, Khalid Rehman and former chief economist, Government of Pakistan, Tariq Ansari and Amanullah Khan of RCCI.- Jamal Shahid