Engr. Fawad. J Saeed, CEO Transfopower Industries talks to Engineering Post
Transfopower Industries (Pvt) Limited has been working in the manufacturing sector in Pakistan for the past three decades. The company is one of the few local manufacturers in Pakistan involved in manufacturing high quality transformers from 5KVA to 10,000KVA capacity. With time Transfopower Industries has further diversified its portfolio by initiating the local manufacturing of energy meters and with time has become one of the fastest growing Energy Meter Manufacturers in Pakistan.
During a recent exclusive discussion with Engineering Post, Engr. Fawad. J Saeed, Chief Executive Officer, Transfopower Industries (Pvt) Ltd. revealed that even in this volatile market the company has been doing extremely well owing to its adherence to quality standards “In this financial year from June 2022 we have been able to acquire a large chunk of business. Although the economic situation is tough still we are growing Alhamdullilah,” he said.
Due to the prevailing uncertainty in the market many players are very cynical about the future of business in Pakistan but Engr. Fawad. J Saeed was very optimistic for this New Year “The fluctuation of dollar rupee parity has affected business but we are seeing a business potential this year.
If the turmoil in the past few months has taught this country one thing, it is that we have to shift towards import substitution or better still towards exports. Quality manufacturers like Transfopower Industries can play a huge role in this regard by exporting high quality products Engr. Fawad. J Saeed while commenting on this said “We are already in the business of import replacement but to move towards exports we need support from our government as well as banking sector. Many products like cables, conductors etc can be exported to Iraq, Afghanistan and other countries. A major problem is that the end user requires that much support from our banks to ensure the guarantees. This is probably the only reason we have not been able to tap the international market to its full potential yet,”
The massive fluctuations in dollar price and ultimately restriction on import resulted in a lot of difficulties for vendors who had contracts with government entities like WAPDA, NTDC K-Electric and DISCOS. Many were even blacklisted for non-supply of materials regardless of the fact that it was caused by import ban. When asked for his views regarding this situation Engr. Fawad. J Saeed said “It is unfortunate that the government entities do not consider the on ground situations. Firstly the contracts do not have an escalation clause so when the dollar price increases the vendor starts losing money. Secondly, force majeure and other factors are not taken into consideration.
I believe that a platform or a conference needs to be organized where the buyers and vendors get together on the table and talk about these problems so that mutually acceptable solutions can be agreed upon. Otherwise we could be looking at the worst case scenario where instead of increasing industrialization people will start closing their industries down which will further decrease the power potential of the country,” he said.