Fast Cables: Aiming to empower communities through sustainable development. Govt should facilitate, provide a level playing field to local companies: Kamal Mian

We are very serious about focusing on our core business and its quality. We manufacture PVC, copper, and aluminum rods, and also engage in related business activities. However, our primary commitment lies in elevating the standards of our current operations. Our tagline, ‘Taroon Se Sitaroon Tak,’ reflects our dedication to achieving excellence in our vision,” says Kamal Mian, Managing Director of Fast.
He shared his insights with Engineering Review during an interview in Lahore. “Our decision to list on the Pakistan Stock Exchange aims to empower communities through sustainable development,” he explained. “To achieve this, we must ensure our own sustainability and undertake comprehensive planning to position ourselves for the future. This move will transform people into future stakeholders and enable us to raise funds for future expansions.
Relation between Economic Crisis and a Positive Approach
Instead of dwelling on negatives that drain your energy, we should focus on the positives, as positivity can yield results. We have always considered what we can do positively. For instance, during the balance of payments crisis, our cable and conductor industry, which imports metals and uses net dollars, began thinking about how to contribute to resolving this national issue. As a result, we shifted our focus to tripling our exports. This contribution to the national economy also benefited us; we were able to export goods worth over a billion rupees. Our positive approach led us to develop a medium voltage cable (33 KV cable), a product not typically made in Pakistan, and we exported over 400 kilometers of this cable to Saudi Arabia. I believe our national situation is not as dire as perceived.
Made in Pakistan and Our Governments
We often rely too heavily on the government. We must move away from this culture. What is the government? It collects taxes, fulfills macro-level responsibilities, and governs the country. I do not agree that we can only succeed if the government acts. Instead, we expect the government to facilitate and provide a level playing field, rather than offering subsidies, etc. What we need are policy interventions that ensure fairness, not policies like those seen in CPEC, where companies were granted tax and duty exemptions, putting local companies at a significant disadvantage. We oppose policies that harm the interests of local companies. By establishing a level playing field, local companies can thrive. During the Covid-19 pandemic and the balance of payments crisis, when imports were difficult, Fast Cables undertook an important project: The Thar-Matyari transmission line, where imports were not feasible. For the first time, we produced a 500 KV conductor for this transmission line. This demonstrated that local companies can better serve the country if they are trusted.
Innovation and Standard of Fresh Engineers
Of course, there is a gap, and we have introduced a Management Training Program in our company to bridge it. I think universities should link undergraduates with industrial experience by introducing various linkage programs so that they are ready before joining the industry. These programs should be introduced even at pre-university levels in the country, as we focus more on the theoretical and learning side rather than the practical side. Also, graduates require soft skills which are essential before specialization in their subjects.
Imports vs Exports
We have focused 10 percent of our business on exports. The balance of payments is not solely a government-specific issue; it’s a national issue since we import more than we export. All sectors, including the service industry, power, and agriculture, need to make efforts to increase exports. It will affect our economic growth because lower growth rates are not an option for us. We have to provide employment for a large number of young people, for whom growth is essential.
Fast and Lights
We launched the light project two years ago after thorough research. In this field, there are no national standards. Now we are educating people on why they should opt for quality lights; it is a challenge. Substandard lighting can affect vision and be detrimental to health. We have received a good response as our consumers are well aware. Price is, of course, an issue, but in terms of returns, people appreciate it. I think the Pakistan Engineering Council (PEC) and other bodies should work on standards for lights so that quality standards are maintained in the country.