Boeing places $100 mln manufacturing orders to PEC and PAC

[Abbas Ali]

KARACHI, May 2 (APP)- US company Boeing has placed electronics contract manufacturing orders worth $ 100 million to Precision Engineering Complex (PEC) and Pakistan Aeronautical Complex (PAC).

This was stated Director Boeing Company Seattle, USA Miguel R Santos while speaking at a recently seminar on “Electronics and Electrical Contract Manufacturing”.

According to EPB here Tuesday, the objective of the seminar was to sensitize the related Pakistani industry and its obtain feedback on the subject.

He said that in next two to three years, Boeing’s outsourcing could surpass $ 1 billion mark for electronics and electrical manufacturing companies.

“Boeing is not only placing the orders but also providing the technical know-how by deputing their engineers to train Pakistani counterparts”, Santos added.

He pointed out that US aircraft manufacturing company has even supplied the machinery needed to prepare these parts used in their 777 aircraft model series.

The United States of America alone out-sources annually over $ 600 billion worth of products to the developing countries and rowing rapidly, he noted.

This unique opportunity provides increased employment and growth in Pakistan from the production and enhanced exports when such goods are exported back to the buyer.

Vice President, Boeing Glen A. Green, a Pakistani-American entrepreneur Pervaiz Lodhi also addressed an audience highlighting “The Next Industrial Revolution” which is outsourcing and contract manufacturing of electronics and electrical parts by the developed countries to the developing nations like Pakistan.

They said that the effect of outsourcing was of huge benefit for developing countries like Pakistan by increasing their export base in electronics and electrical field also thus diversifying export base from cotton based to manufacturing.

The world market is very large and growing fast as cost of production increases in developed countries and technical capabilities improve in the developing ones.

After the Seminar the chief executive and chairman of Philips-Pakistan, Shahid Zaki, director, Boeing Company Miguel Santos and vice president Boeing Glen A. Green, had a meeting with Chairman Export Promotion Bureau Tariq Ikram to discuss this opportunity and outline the way forward.

EPB chairman constituted an action team comprising of following persons which are experts in their related fields to chalk out plans to capture opportunities for securing outsourcing assignments for Pakistan.

Pervaiz Lodhi, President, LED Tronics based in Torrance, California. Miguel R. Santos, Director, Boeing Company based in Seattle, Washington, Sultan ul Arfeen, Arfeen Group of Companies, Shahid Zaki, Chairman & ECO, Philips-Pakistan, Zubyr Soomro, CEO, Citygroup-Pakistan Operations, Mohsin Ali, Secretary General American Business Council of Pakistan, Riaz Khan Executive Director Marketing, Export Promotion Bureau are in the committee.

It was decided to set up electrical and electronic contract manufacturing city for this purpose.

In the meantime, Export Promotion Bureau will contract International Trade Center to get their technical expertise in order to launch the project.

Source: Associated Press of Pakistan

On the Net: Precision Engineering Complex
On the Net: Pakistan Aeronautical Complex