Al Madina Electric Corporation established in 1967 is one of the most reliable electric components suppliers in the country. Al Madina Electric Corporation provides a wide range of quality products from distinguished international brands for the clients in Pakistan.
The company was started by Mr Khushnood Ahmed Sheikh in the year 1967. Initially the company office was located at electric market Lahore on the 2nd floor of a building and was later shifted to Brandreth road Lahore. Later in 1998, Mr. Mohammad Saaim, the son of Mr. Khushnood also joined the company after securing his Master’s degree in Business Administration. Mr. Saaim, now a days, is amicably handling the company operations like sales, purchase and other managerial issues. With his enthusiastic approach, he took Almadina Electric to new heights of excellence.
The company is dealing with international brands including Schneider, GE, Fuji, Terasaki, Hyundai, LSIS and many others.
Engineering Post went to Mr Khushnood Ahmed Sheikh, CEO, Al Madina Electric Corporation for an exclusive interview to discuss some of the common problems being faced by the electric components suppliers in the country. With more than 50 years of experience in the market he is the right person to point out problems and suggest possible solutions.
During the conversation Mr. Khushnood pointed out that the most problematic issue is the non-specified credit line with clients. The company cannot receive the imported equipment without paying more than 99% of the total amounts. Clients on the other hand receive all the equipment on credit and clearance is made in uncertain periods. “The most important issue here is that once the equipment is supplied, we have to pay 17% GST in the same month and we get out payment sometimes after long delays. This means in addition to our original investment being stuck we have to pay additional tax without getting any payment” he explained. To rectify this problem the credit line should be specified to 30 days and failure to comply results in a fine.
Another very important issue nowadays is that the government is actively discouraging imports of all kinds. What they need to realise is that there are hundreds of essential industrial equipment which cannot be manufactured in Pakistan and need to be imported at all costs. Due to our industrial limitation, we cannot manufacture Circuit breakers, temperature controllers, proximity sensors and many other essential equipment without which an industry cannot run properly. “At least essential industrial equipment should be exempt from such restrictions,” he said “There is no problem if the government stops import of imported beverages, chocolates, cheese, cosmetics or other items which do not affect the industry but essential industrial components should be exempt from this otherwise it will ultimately lead to reduction in industrial output” he added.
In his concluding comments while giving a message to the upcoming entrepreneurs he said “Honesty and Hard work are the ultimate requirements for success. If you keep working hard with honesty Allah SWT never lets your efforts go to waste”.
