INTERVIEW WITH MIAN ZAHID HUSSAIN, FORMER CHAIRMAN KATI

KHALIL AHMED
(feedback@pgeconomist.com)

Oct 8 - 14, 20
12

PAGE: YOUR VIEWS ON INTEREST RATE AND LENDING BY BANKS TO THE PRIVATE SECTOR:

MIAN ZAHID HUSSAIN:

At present the Interest Rates are very high and these rates should be reduced.
Interest Rates are at 10% and they should be reduced to single digit.
Non Performing Loans are increasing due to these type of anti industry policy
Level of NPL has increased to Rs. 760 billion which is not a good sign for the economy.
Private sector is reluctant to take loans due to high interest rates & rigid policies of banks.
Special reduced interest rates for small businesses should be introduced.

PAGE: HOW WOULD YOU COMMENT ON GOVERNMENT'S BORROWING FROM THE BANKING SECTOR INCLUDING THE CENTRAL BANK?

MIAN ZAHID HUSSAIN:

Government's borrowing has become very high and there seems to be no limit to it.
The banking sector also prefers to lend to the Govt due to no risk involvement.
Industrialists are the main sufferer as the banks are also happy with the above setup and are dictating their terms when offering loans to private sector.

PAGE: COULD YOU COMMENT ON CURRENCY DEVALUATION AND INFLATION IN PAKISTAN?

MIAN ZAHID HUSSAIN:

Given below are some of the main factors for our currency devaluation & inflation.
Due to increase in Non Development Expenses by the Govt.
Administrative lapses and Corruption.
High dependency on borrowing of loans both internationally & locally
Less incentives to Private Sector resulting in the outflow of Capital
Increase in NPL
Anti Industry Policy resulting in closure of Industry.
Due to floods and earthquake a comprehensive amount was spent on the rehabilitation of the affected persons.

PAGE: YOUR VIEWS ON FUTURE OF PRIVATE SECTOR IN PAKISTAN:

MIAN ZAHID HUSSAIN:

There are a lot of opportunities of investment in the Private Sector.
Especially in Textile , Leather, Agriculture based products, Energy Sector, Telecommunication, Pharmaceutical etc
Due to easy access to labor, raw material
Therefore a little patronage from the Govt. will do wonders.

PAGE: WHAT MUST BE DONE TO IMPROVE THE PERFORMANCE OF PRIVATE SECTOR?

MIAN ZAHID HUSSAIN:

Immediate steps should be taken for the improvement of the law & order situation
Basic utilities like Gas, Electricity, Water etc should be made available with lower tariffs.
Govt. should implement lenient policies in all Dept. to encourage the Private sector.
Loans on lower interest rates to Industrialists for promoting industry.
nfra structure to be improved.

PROFILE:

GROUP CHIEF EXECUTIVE & MANAGING DIRECTOR:

M/S. KenLubes International
M/S. KenLubes International (Pvt.) Ltd.
M/S. Karachi Lubricants (Pvt.) Ltd.
M/S. Ashraf Lubricants (Pvt.) Ltd.
M/S. Eastern Petroleum (Pvt.) Ltd.
M/S. Kentex Corporation

FOUNDER AND CHIEF EXECUTIVE OF KENLUBES INTERNATIONAL:

KenLubes is a leading lubricating oils manufacturing company having a blending plant at Korangi Industrial Area, Karachi and another at Faisalabad, producing wide range of automotive and industrial lubricants for varied application and uses. A state of art laboratory ensures the production of quality products to cater the ever growing and changing needs of the consumers, our plants and facilities can be compared to any other reputed company in Pakistan. KenLubes became the first ISO 9002 certified lubricants manufacturing company in Pakistan, and was also awarded American Quality Award twice in 1995 and 1996 respectively.

POSITIONS HELD:

Former Chairman Korangi Association of Trade and Industry (KATI) (2003-04) & (2008-09)
Founder President Pakistan Businessmen and Intellectuals Forum (PBIF)
Founder Chairman All Pakistan Lubricants Manufacturers Association (APLMA)
President All Karachi Industrial Alliance (AKIA)
Former Chairman Lubricants Business Society of Pakistan (LBSP)
Secretary General Lubricant Business Society of Pakistan (LBSP)
Chairman Sindh Chapter, Workers Employers Bilateral Council of Pakistan (WEBCOP)
Chairman Defence Community Services Karachi
Chairman Standing Committees of Korangi Association for CBR, Banking Affairs (2003-2008) (2009-Till)
Chairman Alternate Disputes Resolution Committee (Customs)
Chairman Employees Old age Benefits Institution Committee (EOBI)
Chairman Standing Committee on Sales Tax, FPCCI
Former Chairman Standing Committee on Internal Trade, FPCCI (2006-2008)
Co-Chairman Korangi Industrial Area Development Board (2003-2004)
Former District Chairman Lions Clubs International District 305 (S-1) Pakistan
Secretary Karachi New MJF Lions Clubs International 305 (S-2) Pakistan
Sr. Vice President Defence Residents Society Karachi (DRS)
Vice President Small and Medium Enterprises Alliance
Vice President of World Peace and Prosperity Forum Pakistan
Director KITE Development & Management Company

MEMBER:

Member Board of Governors Police Hospitals Sindh.
Member Board of Governors Sindh Employees Social Security Institution (SESSI)
Member Advisory Board for Citizen Police Liaison Committee (CPLC)
Member Minister of Industries Advisory Council, Govt. of Sindh
Member Business Persons Council (BPC) Govt. of Pakistan
Patron Member Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
Member Karachi Chamber of Commerce and Industry (KCCI)
Member Faisalabad Chamber of Commerce and Industries (FCCI)
Life Member Korangi Association of Trade & Industry (KATI)
Life Member Arts Council of Pakistan
Life Member Pakistan American Cultural Center (PACC)
Member Punjab Council, Businessmen Alliance
Affiliate Member Society of Automotive Engineers USA
Member Dreamworld Family Resort
Member DHA Country & Golf Club
Member Managing Committee of Institute for Quaid-e-Azam Studies
Member Council for Karachi Electric Supply Corporation (KESC)
Member General Body for SAARC Chamber of Commerce & Industry (2012-2013)

CONFERENCES ATTENDED ABROAD / PAKISTAN:

United Nations Industrial Development Organization Conference Karachi in 1993
Lions Clubs International Convention Birmingham U.K in 1998
Lions Clubs International Forum Sri Lanka in 1998
Lions Clubs International Convention Santiago USA in 1999

AWARDS AND ACCOMPLISHMENTS:

Sitara-e-Imtiaz 2007 conferred by President of Pakistan
American Quality Award for Two Times in 1995 and 1998
ISO 9002

SOCIAL SERVICES:

Sitara-e-Imtiaz,

In recognition of services duly rendered for social, cultural, religious, educational, philanthropic, economic sectors including community services and maintenance of Law and Order, the President of Pakistan honoured me with civil award of "Sitara-e-Imtiaz" on Independence Day the 14th of August 2007.

As a service to humanity, have organized free eye camps for conducting thousands of Cataract eye Surgeries of the poor people.

Being Chairman since 2004, Defence Residents Society (DRS) has adopted Defence Police Station DHA, which is providing best Police Services to the community.

In the capacity of Co-Chairman and founder of Korangi Industrial Area Development Board in the year 2003-2004, commencement of ground breaking work of Mian S.M. Farooq Road, building of fully automated Madadgar 15.

Governor of Sindh has been pleased to appoint as member of Advisory Board for Citizens-Police Liaison Committee (CPLC).

Minister of Industries and Commerce Government of Sindh, has constituted Advisory Council for Industries and nominated as its member.

Federal Government has constituted "Business Persons Council (BPC)" and has nominated its member.

For the resolution of disputes & problems of the people, have been nominated as member of council, for Karachi Electric Supply Corporation (KESC).