Mr. Haseeb Tariq and Mr. Muhammad Haris from Tariq Electric (Pvt) Ltd explaining the ground realities
Mr. Haseeb Tariq, CEO and Mr Muhammad Haris, Director Tariq Electric (Pvt) Ltd had a detailed conversation with Engineering Post regarding the Post COVID-19 situation in the country and the expected revival of the economic and commercial activities. While talking exclusively to Engineering Post, they said that with the passage of time as the lockdowns are lifted around the world the economic situation is starting to get better not just in Pakistan but around the world. One of the most important indicators for economic growth is the increasing price of Steel and copper in the London Metal Exchange (LME). This increase is principally due to the increasing demand for both the metals around the globe.
Mr Tariq appreciated the steps and measures taken by the government during the COVID-19 pandemic which restricted the economy from shrinking down “The results are now apparent and the numbers from July are unbelievable as sales have increased,” he said. “The government has given huge subsidies to the textile and pharmaceutical industry to deal with the pandemic situation. With the passage of time the results will become more apparent”.
Tariq Electric (Pvt) Ltd., Founded in 1993, is one of the most sophisticated switchgear manufacturing outfits in Pakistan. The company specializes in electro-mechanical works and has the experience of working on numerous Commercial & Industrial Projects of National Importance.
While commenting on the mega construction projects initiated by the current regime, Mr Haris said “The dams (Diamer Bhasha/ Azad Patan) are currently in the digging phase so the economic outlook might be slow but as soon as they reach the construction phase all the allied industries of construction including steel cement and others will be stimulated which will ultimately be beneficial for the economy of the country,” he added.
While commenting on the construction package offered by the government Mr Tariq and Mr Haris said that this amnesty-like scheme has the potential to change the fate of the country if it is utilized properly. They added that many people don’t even understand the full scope of this construction package being offered by the government while others are apprehensive. “The government should clarify the fine text of the construction package so that maximum number of people can use it for their benefit” they said.
During the conversation Mr. Tariq and Mr. Haris emphasized the need for standardization of equipment being manufactured in Pakistan. They urged the government to look into the process for the production of standardized products in the country so that domestically produced products can be used. The prevailing trend is that clients and consultants prefer imported products because they believe that installation of local products might save some money but would ultimately result in a drop in quality. If the government steps and promotes standardization the local manufacturers who produce quality products would benefit from it. “It is often said that some building caught fire due to short circuit. That can only happen when inferior quality cables or Panels are used in the construction of building. If the government promotes standardization it will not only increase safety of buildings but will also help save human lives,” they added.
Replying to a question regarding problems being faced by the electric companies they said that one of the most difficult task for a company working with government is keeping up with the ever fluctuating rates of the currency. If the price of dollar increases during the time of bidding and the time of execution the companies have to bear all the loss. If the company then refuses to complete the contract at the old rate the guarantee money submitted by the company at the time of bidding is kept by the government as a fine. This leads to a lot of apprehension in the companies while bidding for government contracts. They suggested a solution for this problem “Foreign currency rates should be applied in all the government contracts being floated. This way the companies would not have to deal with the problem of providing expensive products at a cheaper rate,” they said.
