INTERVIEW WITH SYED FARUKH MAZHAR, MANAGING DIRECTOR SGS PAKISTAN (PVT.) LTD.
Aug 22 - 28, 2011
Fellow Member of Chartered Accountants of Pakistan (FCA).
Working in SGS Pakistan (Private) Limited since 1990, initially holding the position of Director Finance and was promoted as Managing Director in 1998. SGS is the leading company of the world in the field of inspection, testing, verification, and certification. Currently holding the following additional positions:
1. President, Swiss Business Council
2. Managing Committee Member, Overseas Investor Chamber of Commerce & Industry (OICCI)
3. Secretary General - Pakistan Sri Lanka Business Forum
4. Managing Committee Member of Pakistan Russia Business Forum
5. Director - Pakistan - UAE Business Forum
6. Managing Committee Member of Society for Promotion of Arabic
7. Joint Secretary, Defence Residents Society (DRS)
8. Chairman Award Committee - 21st Century Business & Economics Club
9. Past President Marketing Association of Pakistan (MAP) 2008-2009
10. Past President Rotary Club of Karachi Centennial, Karachi 2007-2008
11. Participating as a member of Academic Council of Commecs Institute of Business Emerging Sciences (CIBES)
PAGE: HOW WOULD YOU DESCRIBE THE IMPACT OF LAW AND ORDER SITUATION ON INDUSTRIAL SECTOR?
FARUKH MAZHAR: Law and order is another area of concern for all the business houses. International buyers / business people are hesitant to come to Pakistan due to travel advisory from majority of the countries. One-day shutdown due to any unrest in the city means a loss of billion of rupees to the business community.
PAGE: WHAT KIND OF IMPACT LOAD SHEDDING HAS LEFT ON THE ECONOMY OF PAKISTAN?
FARUKH MAZHAR: Electricity is an important element for almost all business houses therefore the economy of the country. the breakdown and shortages of the electricity in the country has not only forced many industries to close down but at the same time, cost of production by using the generators has gone up. Therefore, the effects of shortage of electricity in the country are multiple. On one hand, by closing down industrial units the unemployment in the county is increasing which resulted in social unrest. On the other hand, either the increased cost of production reduces the margins or the exports are not competitive.
PAGE: WHAT KIND OF EFFORTS ARE REQUIRED TO TACKLE ENERGY CRISIS AND WHAT SHOULD BE OUR NATIONAL AGENDA REGARDING THIS?
FARUKH MAZHAR: The result from the history is very clear and the ignorance/delay affecting the international power projects to meet the domestic requirements. Now, we need to look at the long-term solution which should also address the immediate and short term energy requirements. The new alternate energy sources are identified in the world. We need to look at them very seriously by inviting international investors to immediately invest in power plants.
Government has to come up with the very attractive investment scheme, which should be supported by the proper legislation so that the investors will have confidence.
PAGE: YOUR VIEWS ABOUT SKILLED AND UNSKILLED LABORS IN PAKISTAN.
FARUKH MAZHAR: There is no dearth of skilled/unskilled labors in Pakistan. The population of Pakistan where we have a majority of youth under the age of 25 is the blessing by Allah.