Chairman Pakistan Engineering Council (PEC) briefed the press about the decision taken during the 39th Meeting of PEC Governing Body held at Movenpick Karachi, he stated that PEC has organized its Governing Body Meeting at Karachi after 16 years. He elaborated that PEC being the sole regulatory body for the regulations of Engineering Profession in the country has always played a vital role to strengthen and rehabilitate the Construction Industry of Pakistan.
In line with the vision of Honourable Prime Minister of Pakistan, PEC Governing Body have decided to vitalize and rejuvenile the construction industry through introduction of incentivized measures including amnesty scheme for construction companies that pertains to the defaulting construction firms who have not renewed their PEC License over the past years. This incentive includes payment of current year renewal fee in addition to 10% payment on arrears of defaulting period.
Moreover, Governing Body has also approved the revision of FIDIC-1999 Documents (Standard Bidding Documents) which were in practice since 1999. Henceforth, revised FIDIC-2010 Documents will be in-practice for the purpose of bidding from now onwards after 21 years.
Chairman PEC has also briefed about successful registration of Pakistan Engineering Foundation (PEF) in SECP. PEF will play a vital role for the development of construction technology bank and will eventually promote the construction industry in Pakistan. Chairman PEC also offered the assistance of PEF to Punjab Government for its up-coming project on rural-urban development authority and Federal Government for development of Islands along the coastline of Karachi.
The Governing Body has also approved the establishment of Pakistan Innovation & Testing Centre (PITC) in all the Provinces including Gilgit Baltistan and Kashmir, which will provide the required impetus for promotion of innovation, standardization and commercialization of Engineering Products across the country. This will eventually boost the export of Engineering Products Manufactured in Pakistan resulting in Socio-Economic development of Pakistan.
Last but not the least Chairman PEC once again emphasized on the need for generation of cheap Electricity in Pakistan, he also added that PEC has constituted a power sector committee to advice Government of Pakistan to restrain the price hike of electricity. He also highlighted the fact that cost of electricity is directly proportional to the manufacturing cost of the products. Cheap Power generations will eventually results in the low cost manufacturing of products made in Pakistan and increase in exports. The road to knowledge and IT driven Economy goes through export of Engineering Goods and innovation.
