Boeing places $100m manufacturing orders with Pakistani companies
KARACHI:
US company Boeing has placed electronics manufacturing orders worth
$100 million with
Precision Engineering Company and
Pakistan Aeronautical Complex (PAC).
This was stated by
Director Boeing Company Seattle, USA
Miguel R Santos at a seminar on “Electronics and Electrical Contract Manufacturing”, held recently.
According to EPB, the objective of the seminar was to sensitize the related Pakistani industry and 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 was out-sourcing annually over $ 600 billion worth of products to the developing countries and growing 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 and a Pakistani-American entrepreneur Pervaiz Lodhi also spoke. “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 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.
The EPB chairman constituted an action team comprising 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 an 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. APP
Source: Daily Times
Link: http://www.dailytimes.com.pk/default.asp?page=2006%5C05%5C04%5Cstory_4-5-2006_pg5_6