Engineering Post Report
The Pakistan Institute of Development Economics (PIDE) has prepared a report highlighting the challenges faced by the engineering industry in the country.
The report is based on an extensive survey by the PIDE team of 328 engineering firms across the Golden Triangle of Lahore, Gujrat and Gujranwala coming up with compelling statistics underscoring the critical concerns affecting the engineering industry’s growth and productivity.
One of the main issues outlined in the report was the severe impact of unavailability of electricity in accordance with the requirements of daily production targets.
A staggering 83 % of surveyed firms opined that the unavailability of electricity creates hurdles in achieving their production goals.
78 % of these firms reported that electricity scarcity hindered their operational efficiency. The financial of arranging alternative supply amounting to Rs 71000 per unit annually adding to the burden on firms operations impacting 72% of the surveyed firms.
More importantly and shockingly, the report also highlighted the bitter fact about lack of an online presence among Pakistan’s engineering enterprises.
As many as 63 % of surveyed firms were lacking online presence underlying the dire need for the businesses to go online at the earliest in order to reach a wider base of customers and enhancing engagement as well.
The surveyed firms also complained about lack of access to credit facilities and as many as 63 % of them had no immediate plans for expansion in the near future and as such making some investment in securing advanced technology, machinery, land and skilled labour for boosting their business prospects.
