In a recent meeting the board of NESPAK has approved the 5-year business plan (2023-2028) for the organization.
During the meeting it was decided that the organization will increase its business share of international projects by 40 per cent, whereas, 60 percent would be the share of domestic projects by the end FY 2027-2028.
The board was also informed that management is proposing to change the name of NESPAK to NESPAK International for working independently and to target huge market share globally. Moreover the management is also putting its efforts into reviving its relations with old clients in foreign markets and planning for project diversification through new ventures into new international markets such as Azerbaijan and Africa.
The board also arrived at the conclusion that the business model of working as a joint venture with foreign/ locals is not viable in the current era.
The meeting was informed that within the next few years NESPAK will increase the current gross margin of six percent to 21 percent at the end of 2027- 2028 i.e 2.5 per cent in the first year, seven percent in 2nd and 3rd year, and then 15 per cent in the fourth and fifth year.
As discussed in the meeting, MD NESPAK has also written letters to those directors of the board who are representing government and semi-government departments, which owe a substantial amount of NESPAK’s receivables.
