Government has been advised to recapitalise the engineering sector to effectively utilise the broad skills base and harness revenue potential from this industry.
Lack of investments and under-capitalisation of infrastructural projects has created a vacuum for the sector to maximize on the potential of its highly skilled personnel.
The closure of major companies like ZISCO Steel has also dampened the performance of the sector which now has a bloated skilled labour base and very few opportunities.
Experts however believe the sector holds vast potential to emerge as the country’s backbone for revenue growth should the government afford the necessary macro-economic investments.
While investments in road construction have been important in bringing hope for the sector the investing companies have mainly subcontracted local engineers hence under utilising the potential in the industry.
A combination of sound policies and enhanced injection of recapitalisation funds are viewed as critical tenets to reviving the operational viability of the engineering, iron and steel industry in the country.