ISLAMABD: The Oil and Gas Development Company Limited (OGDCL) has received poor response from the bidders for its over $ 60 million compression project as only three parties submitted bids to win the contract. These companies included Jerey, CPP- Karui, Arkad and Pipelink. Jereh CPP, one of three bidders has not submitted bid bond, so practically only two parties are in the run for the project. Sources said OGDCL and other public sectors companies competition has gone down three to four times since 2017, when Pakistan Engineering Council (PEC) introduced an amended provision, asking international bidders to pay it $ 24000 in advance for registration. These sources said prior to introduction of this amended PEC policy, OGDCL and other public sector companies were getting for better response from the bidders for their projects. PEC’s provision is a major hurdle in securing investment for Pakistan, besides encouraging a culture of cartelistion in OGDCL and other public sector companies. PEC has apparently introduced the new provision in question to earn money in the name of registration. However, its effect on the government’s efforts is extremely damaging. PEC’s new provision is also without any logic. Suppose as many as 10 parties intend to bid for an OGDCL project. As per amended provision, each one of them is required to pay $ 24000 to PEC in advance without getting a project. One cannot understand the logic of asking all the interested parties to pay registration fee $ 24000 for a project, which ultimately goes to only one party. Instead making money in the name of registration, PEC should ask only successful bidder to pay $ 24000 fee for registration, An official of OGDCL said on the condition of anonymity when NEWSMAN approached for comments . ECP’s policy of extorting money in the name of registration is also contradictory to Prime Minister, Imran Khan’s vision of facilitating investors to bring foreign direct investment (FDI) into Pakistan. Pakistan’s FDI has dropped many folds during the last 5 years. The government is running from pillar-to-post to restore the confidence of foreign investors so that they invest in Pakistan and help its economy to get out of current bad patch. Imran Khan personally uses each forum to ensure the foreign investors of getting conducive environment if they opt to invest in Pakistan. He addresses the investors in every capital of the world and ensure them that Pakistan was a good destination for their investment, but PEC is spoiling these government efforts by introducing provisions like advance fee for foreign investors.
