Nespak secures record business during 2009-10

Nespak made substantial progress business-wise during the last financial year (2009-10) when it broke all previous records by acquiring projects worth Rs 10.61 billion against Rs 6.52 billion during corresponding period, showing an increase of more than 56 percent.

Asad I A Khan, Managing Director Nespak, said that Nespak acquired 101 new projects at home and abroad during the last fiscal year after tough international competition. The newly secured foreign projects are located in Saudi Arabia, Oman, Qatar, Afghanistan and Ethiopia, he added.

He said Nespak remained actively involved in reconstruction activities in Afghanistan. To cope with the increased workload and to carryout operations more effectively, he added, Nespak has inducted 452 young engineers. However, an alarming trend that is affecting Nespak is the circular debt, wherein Nespak’s consultancy fees and receivables are mounting as government coffers seem to dry out. This is highly worrisome for Nespak as its only source of revenue is derived from its consultancy services, he added.